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Launched · SEC filings

ProShares VIX Short-Term Futures ETF

VIXYCboeProSharesDThis 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.

$16.34−1.77 (−9.80%)

As of Nov 4, 2026, 2:35 PM ET

D33/ 100

Rank 11 of 13 in Portfolio Hedging

D33/100Rank 11 of 13inPortfolio Hedging
Intraday session: down, 62 prints from 18.12 to 16.34. Range 16.29 to 17.03. Use the arrow keys to read each point.17.0017.5010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$214M
1Y total return
−44.5%
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
2.77M sh
52W range
low $15.88high $39.33
Launched
Filings
SEC EDGAR

The ETF.net VIXY Grade

Based on 4 of 6 pillars

D

Score 33 out of 100

Category
Portfolio Hedging⁠
Rank
11 of 13
Six-pillar profile for VIXY. Scores out of 100: Cost 15, Risk 18, Mission not scored, Tradability 69, Holdings not scored, Durability 82. Strongest: Durability (82). Weakest: Cost (15). Based on 4 of 6 pillars.

Score 33 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 100
    Rank 11 of 13

  • 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.
    F18 out of 100
    Rank 13 of 13

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B69 out of 100
    Rank 2 of 13

  • 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.
    A82 out of 100
    Rank 2 of 13

Our read on VIXY

ETF.net Research

In short

DThe original volatility ETF: ProShares launched it in 2011 to put VIX futures in a fund wrapper instead of a bank note. It tracks an index that rolls short-dated VIX futures daily, designed to move with expected S&P 500 volatility.

Stated mandate

The fund seeks, before fees and expenses, to match the performance of the S&P 500 VIX Short-Term Futures Index. It is designed to benefit from increases in expected S&P 500 volatility as reflected in VIX futures prices.

Why people hold it

  • Launched January 2011 as one of the first volatility ETFs, built to deliver VIX futures exposure in a fund rather than an unsecured bank-issued note.sec.gov
  • Plain 1x exposure to the short-term VIX futures index: no leverage multiplier stacked on top of an already jumpy asset.proshares.com
  • Actively traded, which matters for a tool most people use in short bursts around market stress rather than hold for years.
  • ProShares says on the fund page that rolling VIX futures daily has historically carried significant costs that reduce returns. Unusual candor about a built-in drag.proshares.com

Worth knowing

  • The daily roll is the whole story: ProShares notes VIX futures indexes have historically shown significant roll costs, and that VIX levels have tended to revert to an average.proshares.com
  • Files as a commodity pool, not a 1940 Act fund, and sends a K-1 at tax time. Worth knowing before it lands in a taxable account.proshares.com
  • At 0.85% a year, it costs more than the typical hedging peer, including TAIL (0.59%) and CAOS (0.63%).

VIXY Holdings

Asset class
Other
Holdings
1
Top-10 weight
100%
Largest holding
Net Other Assets (Liabilities)100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataNet Other Assets (Liabilities)100.00%218,130,105$218M151

Showing 1–1 of 1 holdings

VIXY Performance

Launched Jan 3, 2011

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

VIXY$5,546
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,158
Nov 3, 2025 to Nov 3, 2026. VIXY $5,546. SPY $11,158. Use the arrow keys to read each point.$5,000$7,500$10,000Nov 2025May 2026Nov 2026

Nov 3, 2025 – Nov 3, 2026

Returns run to the Nov 3, 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 VIXY. Periods over one year show the average yearly return.
PeriodVIXY
Year to date−29.3%
1 month+8.4%
3 months−11.0%
1 year−44.5%
3 yearsper year−40.2%
5 yearsper year−43.8%
10 yearsper year−46.9%

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 VIXY
YearReturn barVIXY
2026 YTD−29.3%
2025−43.0%
2024−27.4%
2023−72.7%
2022−25.0%
2021−72.4%
2020+10.5%

VIXY in the news

VIXY Dividends

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

No distributions in the last 12 months.

VIXY Risk

Risk pillarF18 out of 100Rank 13 of 13 in Portfolio Hedging
How much the fund’s monthly returns vary, scaled to a year.
43.8%
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.
−1.09
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.
−96.6%
Trough Oct 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.
−2.31
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.

VIXY Cost

Compare VIXY and RFIX

Overpaying vs RFIX, cheapest in Portfolio Hedging

$6,220

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

  • VIXY 0.85%

    $16,199

  • RFIX 0.50% Cheapest

    $9,979

$10,000
30 years

Cost over time

  • VIXY 0.85%
  • RFIX 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530VIXY $16,199RFIX $9,979

Year by year

YearVIXYRFIXOverpaying
10$1,508$900$608
20$5,706$3,460$2,246
30$16,199$9,979$6,220

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