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  • ETF
  • IVOP
    Pricing Data
    $37.98
    Change: $2.31 (-0.06%)
    Time: 09/29/16
    Previous Close: $40.29
  • Category
  • Inverse Volatility
Last Updated:

Profile

Vitals

Trading Data

Open: - Volume -
Day Lo - Day Hi -
  • 52 Week Lo: $30.42
  • 52 Week Hi: $40.59
  • AUM: $0.5 M
  • Shares: 0.0 M

Investment Themes

Historical Trading Data

  • 1 Month Avg. Volume: 467
  • 3 Month Avg. Volume: 440

Alternative ETFs in the Inverse Volatility Category

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Type Ticker Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest
Largest (AUM)
Most Liquid (Volume)
Top YTD Performer

Analyst Report

This product offers inverse exposure to an index comprised of VIX futures contracts, allowing investors to profit if the widely followed measure of equity market volatility declines or if contango in VIX futures markets erodes returns to long VIX futures strategies. Given this objective, IVOP can be expected to maintain a strong correlation with the S&P 500, though this product may be considerably more volatile. IVOP might also have appeal as a way of exploiting the adverse impact of contango in VIX futures markets; when the futures curve slopes upwards, this strategy may be capable of generating positive returns even if the spot holds steady or increases. IVOP offers exposure to a relatively complex strategy; investors without a firm grasp of futures-based investment strategies or the nuances of the VIX should not invest in IVOP, and this note probably has no place in any long term, buy-and-hold portfolios. For more sophisticated investors, however, IVOP can be a very powerful tool. A few aspects of this product are particularly noteworthy. First, IVOP does not maintain a daily reset feature as some inverse ETPs do. That means that the target multiple on the underlying index is applicable only for investors who bought at inception and hold until maturity. The effective multiple realized can vary depending on the market environment, and may be significantly greater or less than -100%. Before taking a position in IVOP, be sure to consider the participation ratio (which is generally available on the issuer's Web site). For investors seeking inverse VIX exposure with a daily reset feature, XIV is probably the best option out there. It should also be noted that IVOP maintains an automatic redemption feature; if the indicative value of the note drops below $10 per share, the issuing institution will automatically redeem the notes, and investors will receive a cash payment. Additionally, consider that IVOP is an ETN; that structure means that investors are exposed to the credit risk of the issuing institution, but will avoid tracking error and trading fees that must be considered when purchasing an ETF.

Realtime Rating

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Realtime Rating Summary

The adjacent table gives investors an individual Realtime Rating for IVOP on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Inverse Volatility with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.

Compare to another ETF

View the Category Report

IVOP Overall Realtime Rating:

A+ Overall Rated ETF:

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity C XIV
Expenses A- IVOP
Performance
Volatility
Dividend
Concentration

Knowledge Centers

IVOP In-Depth Analysis

The following tables and charts contain in-depth metrics for this ETF and compare it to similar peer ETFs within its ETFdb Category.

IVOP Holdings

Holdings data for this ETF is not available.

IVOP Expenses & Fees

This section compares the cost efficiency of this ETF to peers in the same ETFdb Category.

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Expenses Ratio Analysis

ETF Average
0.576%
ETF Wtd. Average
0.26%
Category Average
1.06%
Expense Ratio
Rank:
0.89%
Category Low
Category High

Commission Free Trading

This ETF is not currently available for commission free trading on any platforms.

Category Commission Free Trading

There are 0 other ETFs in the Inverse Volatility ETFdb Category that are also eligible for commission free trading:

  • Ticker Brokerages

IVOP Performance

This section shows how this ETF has performed relative to its peer group ETFdb Category.

1 Week Return
Rank:
1.17%
Category Low
Category High
4 Week Return
Rank:
1.17%
Category Low
Category High
13 Week Return
Rank:
-1.38%
Category Low
Category High
26 Week Return
Rank:
0.50%
Category Low
Category High
Year to Date Return
Rank:
0.37%
Category Low
Category High
1 Year Return
Rank:
0.37%
Category Low
Category High
3 Year Return
Rank:
1.33%
Category Low
Category High
5 Year Return
Rank:
145.67%
Category Low
Category High

Charts

The following charts can be customized to display historical performance in a number of different formats, including line charts, bar charts, and candlesticks. Time periods can be adjusted to increase or decrease the period shown, ranging from five minutes to several months.

The following chart also includes the option to compare the performance of IVOP relative to other ETFs and benchmarks or to include indicators such as Bollinger Bands, relative strength, and moving averages.

IVOP Valuation

This section shows how the P/E multiple of this ETF compares to the peer group ETFdb Category.

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P/E Ratio
Rank:
No Ranking Available
Category Low
Category High

IVOP Dividend

This section shows how the dividend yield of this ETF compares to the peer group ETFdb Category.

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Dividend
n/a
Dividend Date
n/a
Annual Dividend Rate
n/a
Annual Dividend Yield
Rank:
No Ranking Available
Category Low
Category High

IVOP Technicals

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Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETFdb Category.

5 Day Volatility
Rank:
24.63%
Category Low
Category High
20 Day Volatility
Rank:
39.26%
Category Low
Category High
50 Day Volatility
Rank:
24.95%
Category Low
Category High
200 Day Volatility
Rank:
17.75%
Category Low
Category High
Beta
Rank:
2.64
Category Low
Category High
Standard Deviation
Rank:
2.62%
Category Low
Category High

Technicals

  • 20 Day MA: $37.96
  • 60 Day MA: $38.05
  • MACD 15 Period: -0.02
  • MACD 100 Period: -0.17
  • Williams % Range 10 Day: 25.66
  • Williams % Range 20 Day: 25.66
  • RSI 10 Day: 49
  • RSI 20 Day: 50
  • RSI 30 Day: 50
  • Ultimate Oscillator: 64

Bollinger Brands

  • Lower Bollinger (10 Day): $35.37
  • Upper Bollinger (10 Day): $40.23
  • Lower Bollinger (20 Day): $36.11
  • Upper Bollinger (20 Day): $39.55
  • Lower Bollinger (30 Day): $36.49
  • Upper Bollinger (30 Day): $39.39

Support & Resistance

  • Support Level 1: $37.60
  • Support Level 2: $37.22
  • Resistance Level 1: $38.27
  • Resistance Level 2: $38.56

Stochastic

  • Stochastic Oscillator %D (1 Day): 51.46
  • Stochastic Oscillator %D (5 Day): 67.94
  • Stochastic Oscillator %K (1 Day): 55.23
  • Stochastic Oscillator %K (5 Day): 78.79

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETFdb.com. Information contained within the fact sheet is not guaranteed to be timely or accurate.

2014 Morningstar, Inc. All Rights Reserved. The information contained herein: ( 1 ) is proprietary to Morningstar and/or its content providers; ( 2 ) may not be copied or distributed; and ( 3 ) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.