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Launched · SEC filings

-1x Short VIX Futures ETF

SVIXCboeVolatility SharesCThis fund tracks market volatility itself rather than stocks or bonds. It is built as a short-term trading instrument, not a buy-and-hold investment.

$22.36−0.61 (−2.68%)

As of Nov 10, 2026, 11:25 AM ET

C52/ 100

Rank 18 of 54 in Leveraged Inverse (2x & Other)

C52/100Rank 18 of 54inLeveraged Inverse (2x & Other)
Intraday session: down, 24 prints from 22.97 to 22.36. Range 22.06 to 22.81. Use the arrow keys to read each point.22.2022.6022.8010 AM12 PM2 PM4 PM
Expense ratio
1.47%
Fund size
$176M
1Y total return
+19.4%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
2.6M sh
52W range
low $14.13high $30.39
Launched
Filings
SEC EDGAR

The ETF.net SVIX Grade

Based on 4 of 6 pillars

C

Score 52 out of 100

Category
Leveraged Inverse (2x & Other)⁠
Rank
18 of 54
Six-pillar profile for SVIX. Scores out of 100: Cost 50, Risk 47, Mission not scored, Tradability 60, Holdings not scored, Durability 55. Strongest: Tradability (60). Weakest: Risk (47). Based on 4 of 6 pillars.

Score 52 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C50 out of 100
    Rank 1 of 54

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 26 of 54

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B60 out of 100
    Rank 17 of 54

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B55 out of 100
    Rank 18 of 54

Our read on SVIX

ETF.net Research

In short

CThe undiluted short-volatility trade. SVIX aims for the full inverse of a VIX futures index for one day at a time, the dose the market's older short-vol ETF gave up when it halved its target back in 2018.

Stated mandate

SVIX seeks daily investment results corresponding to the Short VIX Futures Index for one day only. Its exposure is obtained through VIX futures and related instruments, with daily inverse performance and compounding effects.

Why people hold it

  • Full-strength short vol: SVIX targets -1x the daily move of the Short VIX Futures Index, while the long-running alternative (SVXY) has targeted only -0.5x since 2018.proshares.com
  • No futures account needed. The VIX futures exposure sits inside a commodity pool that trades in an ordinary brokerage account, and the fund is actively traded.
  • Rules, not a trader's hunch: exposure tracks a named benchmark, the Short VIX Futures Index, and resets every day.

Worth knowing

  • At 1.47% a year, the fee sits above the typical leveraged and inverse fund in its group. Part of the price of the full -1x wrapper.
  • Built for one day only. Daily resets compound, so a stretch of days can land far from -1x the index over that same stretch.
  • Short vol leans on calm markets and takes the pain when VIX futures spike. In 2018, one such spike led ProShares to cut its short-vol ETF's target exposure in half.sec.govproshares.com

SVIX Performance

Launched Mar 28, 2022

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
SVIX$11,945
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. SVIX $11,945. SPY $11,339. Use the arrow keys to read each point.$7,500$10,000$12,500$15,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SVIX. Periods over one year show the average yearly return.
PeriodSVIX
Year to date−5.2%
1 month−22.6%
3 months−9.0%
1 year+19.4%
3 yearsper year−7.5%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SVIX
YearReturn barSVIX
2026 YTD−5.2%
2025−4.5%
2024−32.8%
2023+157.4%
2022−0.9%

History from Mar 30, 2022

SVIX in the news

SVIX Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

SVIX Risk

Risk pillarC47 out of 100Rank 26 of 54 in Leveraged Inverse (2x & Other)
How much the fund’s monthly returns vary, scaled to a year.
55.4%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.19
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−79.3%
55 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.95
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

SVIX Cost

Compare SVIX and QQQD

Overpaying vs QQQD, cheapest in Leveraged Inverse (2x & Other)

$15,877

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SVIX 1.47%

    $25,856

  • QQQD 0.50% Cheapest

    $9,979

$10,000
30 years

Cost over time

  • SVIX 1.47%
  • QQQD 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530SVIX $25,856QQQD $9,979

Year by year

YearSVIXQQQDOverpaying
10$2,541$900$1,641
20$9,353$3,460$5,893
30$25,856$9,979$15,877

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