ProShares VIX Mid-Term Futures ETF
DThis 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.
$12.68−0.04 (−0.31%)
- 0.85%
- $49M
- −22.7%
- 0.5M sh
- $12.73
- low $12.64high $17.72
The ETF.net VIXM Grade
D
Score 30 out of 100
- 12 of 13
Score 30 of 100 falls in the D 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.F15 out of 100Rank 11 of 13Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F24 out of 100Rank 12 of 13Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B58 out of 100Rank 4 of 13Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B65 out of 100Rank 6 of 13
Our read on VIXM
DMost VIX funds crowd the front month. VIXM sits in the middle of the curve, rolling fourth-month futures out to seventh for a five-month average maturity. A longer-dated way to own expected S&P 500 volatility, trading since 2011.
VIXM seeks to track the performance of the S&P 500 VIX Mid-Term Futures Index before fees and expenses.
Why people hold it
- Mid-curve by design: the index rolls fourth-month VIX futures into seventh while holding fifth and sixth, keeping a weighted average of five months to expiration.proshares.com
- Trading since 2011, one of the longer-running volatility funds, and it delivers VIX futures exposure through a single ticker in an ordinary brokerage account.proshares.com
- ProShares points to the mid-term VIX futures index historically moving opposite S&P 500 returns, which is the reason investors park it beside equity risk.proshares.com
Worth knowing
- At 0.85% a year, it runs above what several hedging peers charge, including PFIX (0.50%) and TAIL (0.59%).
- ProShares notes the VIX has tended to revert to a long-term average rather than climb over time, unlike asset classes that drift upward, so holding period matters here.proshares.com
- It is a commodity pool rather than a standard stock fund, so tax reporting differs from an equity ETF, and it does not pay regular distributions.
VIXM Holdings
- Other
- 1
- 100%
- Net Other Assets (Liabilities)
VIXM Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
VIXM$7,733
Returns run to the Oct 12, 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.
| Period | VIXM |
|---|---|
| Year to date | −16.7% |
| 1 month | −4.6% |
| 3 months | −11.1% |
| 1 year | −22.7% |
| 3 years | −13.4% |
| 5 years | −16.4% |
| 10 years | −12.0% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | VIXM |
|---|---|---|
| 2026 YTD | −16.7% | |
| 2025 | +5.6% | |
| 2024 | −13.7% | |
| 2023 | −44.8% | |
| 2022 | −0.7% | |
| 2021 | −16.7% | |
| 2020 | +72.4% |
VIXM in the news
VIXM Dividends
No distributions in the last 12 months.
VIXM Risk
- 20.0%
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.
- −0.80
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.
- −66.2%
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.
- −0.95
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
VIXM Cost
0.85%
VIXM0.85%
- The middle half of Portfolio Hedging funds
- Median 0.63%
8 of the 11 Portfolio Hedging funds charge less.
Other funds in Portfolio Hedging
- BTAILCambria Tail Risk ETFExpense ratio 0.60%1 year return −16.4%
- CIRVHGlobal X - Interest Rate Volatility & Inflation Hedge ETFExpense ratio 0.45%1 year return −7.2%
- DONEHTrueShares Equity Hedge ETFExpense ratio 0.79%1 year return —
- DVIXYProShares - VIX Short-Term Futures ETFExpense ratio 0.85%1 year return −55.9%
- DIVOLQuadratic Interest Rate Volatility and Inflation Hedge ETFExpense ratio 1.02%1 year return −9.8%