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UVIX

GradeDChicago Board Options Exchange

2x Long 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.

$36.19+1.15 (+3.27%)

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

History starts Mar 30, 2022.
Intraday session: up, 59 prints from 35.04 to 36.19. Range 34.99 to 36.73. Use the arrow keys to read each point.$35.00$35.50$36.5010 AM12 PM2 PM4 PM
Expense ratio
2.19%
Fund size
$179M
1Y return
−83.1%
Yield · Last 12 months
—
Holdings
2
Volume · 30D
2M sh
NAV per share
$37.30
52W range
low $34.91high $292.92

The ETF.net UVIX Grade

D

32/ 100

Rank 79 of 99 in Leveraged Long (2x & Other)⁠

Confidence Medium

Six-pillar profile for UVIX. Scores out of 100: Cost 10, Risk 4, Mission not scored, Tradability 93, Holdings not scored, Durability 68. Strongest: Tradability (93). Weakest: Risk (4). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 32 of 100 sits in the D 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.
    FScore 10
    Category rank90/99 · bottom quartile

  • 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.
    FScore 4
    Category rank94/94 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 93
    Category rank2/99 · top 2%

  • 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.
    BScore 68
    Category rank21/99 · top 21%

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

Our read on UVIX

ETF.net Research

DMost leveraged ETFs juice a stock index. UVIX goes after fear itself: twice the daily move of a VIX futures index, wrapped in a commodity pool. A short-horizon trading tool, by design.

Stated mandate

The fund seeks daily results, before fees and expenses, equal to twice the performance of the Long VIX Futures Index.

Why people hold it

  1. 01A rare pure play on volatility in a cohort dominated by leveraged equity funds: it targets 2x the daily move of the Long VIX Futures Index.
  2. 02The mandate leaves nothing to interpretation: a stated 2x daily multiple against one named index, spelled out in the prospectus. No manager discretion.
  3. 03For a tool you hold in hours or days, liquidity matters most. UVIX is actively traded, one of the stronger showings in its peer group for getting in and out.
  4. 04Running since 2022, so it has a multi-year operating history in a corner of the market where launches often do not stick around.

Worth knowing

  1. 01The fee is 2.19%, well above what most leveraged funds charge. That drag runs whether volatility spikes or naps.
  2. 02The 2x target resets daily. Over any longer stretch, compounding means results can diverge widely from twice the index move over that same stretch.
  3. 03It is a commodity pool tracking VIX futures, not the spot VIX and not a stock fund, and it has made no distributions in the past year.

UVIX Holdings

As of Sep 21, 2026, 4:17 AM
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
CBOE VIX FUTURE Oct2658.4%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CBOE VIX FUTURE Oct2658.40%17,547$316M7
002—Cash & Other33.33%180,451,499$180M674
003—CBOE VIX FUTURE Nov268.27%2,393$45M2

Showing 1–3 of 3 holdings

UVIX Performance

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

UVIX$1,686
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. UVIX $1,686. SPY $11,723. Use the arrow keys to read each point.$880$6,724$12,568Sep 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 UVIX. Periods over one year show the average yearly return.
PeriodUVIX
Year to date−69.3%
1 month−19.7%
3 months−46.6%
1 year−83.1%
3 years−82.8%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 UVIX
YearReturn barUVIX
2026 YTD−69.3%
2025−83.2%
2024−75.2%
2023−95.3%
2022−62.1%

History from Mar 30, 2022

UVIX in the news

UVIX Dividends

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

No distributions in the last 12 months.

UVIX Risk

How much the fund’s monthly returns vary, scaled to a year.
73.5%
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.
−1.80
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.
−100.0%
53 months · trough Sep 2026
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.
−4.27
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.

UVIX Cost

Expense ratio2.19%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 0.99%

83 of the 93 Leveraged Long (2x & Other) funds charge less.

UVIX costs $219.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $99.00.