Volatility Shares Trust - Volatility Premium Plus ETF
$7.70−0.54 (−6.50%)
- Expense ratio
- 1.42%
- Fund size
- $19M
- 1Y return
- +24.3%
- Yield · Last 12 months
- 70.72%
- Holdings
- 5
- Volume · 30D
- 0.1M sh
- NAV per share
- $8.09
- 52W range
The ETF.net ZVOL Grade
Score 59 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 51Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 86Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 55Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 46Category rank
Our read on ZVOL
BShort volatility, but further out the curve. ZVOL takes daily inverse exposure to mid-term VIX futures instead of the front month, aiming to monetize the roll premium in those contracts, and it pays out monthly.
The Fund seeks daily results, before fees and expenses, corresponding to the S&P 500 VIX Mid-Term Futures Inverse Daily Index.
Why people hold it
- Most short-vol trades crowd the front month. ZVOL works the mid-term end of the VIX curve, the fourth through seventh contracts, which move less violently than the nearest ones.sec.gov
- Income is the point, not a byproduct: continuously rolling short VIX futures is expected to produce a volatility premium or roll yield, which the fund declares as a monthly dividend.sec.govvolatilityshares.com
- A registered 1940 Act fund, with futures exposure held through a wholly owned Cayman subsidiary rather than a bare commodity pool.sec.gov
- Sits in the upper half of the inverse and leveraged funds we grade, with a risk profile calmer than most of that crowd, thanks to the mid-term contracts and single inverse exposure.
Worth knowing
- The mandate resets daily. Hold past one day and returns compound, so results can drift well away from the inverse of the index, and a volatility spike cuts against the position.volatilityshares.com
- Fees run above the neighborhood: 1.42% versus a 1.21% median for bear and leveraged funds. SVXY does short-vol at 0.95%, though from the short-term end of the curve.
- It is a small, thinly traded fund, so limit orders earn their keep. The issuer also expects part or all of each distribution to be return of capital rather than new profit.volatilityshares.com
ZVOL Holdings
- Other
- 5
- 213210%
- CBOE VIX FUTURE Mar27
ZVOL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | ZVOL |
|---|---|
| Year to date | +18.1% |
| 1 month | +9.2% |
| 3 months | +16.1% |
| 1 year | +24.3% |
| 3 years | +8.7% |
| 5 years | — |
| 10 years | — |
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 | ZVOL |
|---|---|---|
| 2026 YTD | +18.1% | |
| 2025 | −10.7% | |
| 2024 | +9.4% | |
| 2023 | +51.6% |
ZVOL in the news
ETF.net Research hasn’t filed on ZVOL yet — coverage lands here as it’s written.
ZVOL Dividends
- 70.72%
- $5.82
- $0.49 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 19, 2026 | Aug 20, 2026 | $0.49 |
| Jul 22, 2026 | Jul 23, 2026 | $0.49 |
| Jun 17, 2026 | Jun 18, 2026 | $0.49 |
| May 20, 2026 | May 21, 2026 | $0.49 |
| Apr 22, 2026 | Apr 23, 2026 | $0.49 |
| Mar 18, 2026 | Mar 19, 2026 | $0.49 |
| Feb 18, 2026 | Feb 19, 2026 | $0.49 |
| Jan 21, 2026 | Jan 22, 2026 | $0.49 |
| Dec 15, 2025 | Dec 16, 2025 | $0.49 |
| Nov 25, 2025 | Nov 26, 2025 | $0.49 |
| Oct 29, 2025 | Oct 30, 2025 | $0.49 |
| Sep 26, 2025 | Sep 29, 2025 | $0.49 |
ZVOL Risk
- 22.1%
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.
- 0.21
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.
- −37.2%
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.
- 1.18
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ZVOL Cost
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
25 of the 53 Leveraged Inverse (2x & Other) funds charge less.