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SVIX

GradeBChicago Board Options Exchange

-1x Short VIX Futures ETF

Volatility product · Leveraged & Inverse · Volatility Shares · Inception 2022-03-28 · SEC filings

This 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.

$28.99−0.42 (−1.43%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Mar 30, 2022.
Intraday session: down, 59 prints from 29.41 to 28.99. Range 28.75 to 29.45. Use the arrow keys to read each point.$28.80$29.20$29.4010 AM12 PM2 PM4 PM
Expense ratio
1.47%
Fund size
$134M
1Y return
+39.8%
Yield · Last 12 months
—
Holdings
3
Volume · 30D
2.4M sh
NAV per share
$28.59
52W range
low $14.13high $29.50

The ETF.net SVIX Grade

B

58/ 100

Rank 20 of 54 in Leveraged Inverse (2x & Other)⁠

Confidence Medium

Six-pillar profile for SVIX. Scores out of 100: Cost 47, Risk 49, Mission not scored, Tradability 91, Holdings not scored, Durability 54. Strongest: Tradability (91). Weakest: Cost (47). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 58 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 47
    Category rank29/54 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 49
    Category rank26/53 · top 49%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 91
    Category rank3/54 · top 6%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 54
    Category rank19/54 · top 35%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on SVIX

ETF.net Research

BThe 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

  1. 01Full-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
  2. 02No 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.
  3. 03Rules, not a trader's hunch: exposure tracks a named benchmark, the Short VIX Futures Index, and resets every day.

Worth knowing

  1. 01At 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.
  2. 02Built for one day only. Daily resets compound, so a stretch of days can land far from -1x the index over that same stretch.
  3. 03Short 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 Holdings

As of Sep 21, 2026, 4:17 AM
Asset class
Other
Holdings
3
Top-10 weight
637061%
Largest holding
CBOE VIX FUTURE Oct26558074.2%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CBOE VIX FUTURE Oct26558074.23%-6,507$-117M7
002—CBOE VIX FUTURE Nov2678986.67%-887$-17M2

Showing 1–2 of 2 holdings

SVIX Performance

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

SVIX$13,978
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SVIX $13,978. SPY $11,723. Use the arrow keys to read each point.$6,268$10,409$14,549Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+21.4%
1 month+9.0%
3 months+26.0%
1 year+39.8%
3 years+0.8%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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+21.4%
2025−4.5%
2024−32.8%
2023+157.4%
2022−0.9%

History from Mar 30, 2022

SVIX in the news

ETF.net Research hasn’t filed on SVIX yet — coverage lands here as it’s written.

SVIX Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

SVIX Risk

How much the fund’s monthly returns vary, scaled to a year.
55.6%
Annualised · 36 months to Aug 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.
0.15
vs 3-month T-bills · to Aug 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%
53 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.

SVIX Cost

Expense ratio1.47%
  • The middle half of Leveraged Inverse (2x & Other) funds
  • Median 1.44%

27 of the 53 Leveraged Inverse (2x & Other) funds charge less.

SVIX costs $147.00 a year on $10,000. The median Leveraged Inverse (2x & Other) fund costs $144.00.