ProShares Short VIX Short-Term Futures ETF

Price: $110.36
Change: $0.78 (0.01%)
Category: Inverse Volatility
Last Updated:


Issuer ProShares
Brand ProShares
Structure Commodity Pool
Expense Ratio 0.95%
ETF Home Page Home page
Inception Oct 03, 2011

Analyst Report

This ETF offers inverse exposure to an index comprised of VIX futures contracts, making it an intriguing tool in certain environments. The VIX is a widely followed indicator of expected equity market volatility, and as such has a tendency to exhibit a strong negative correlation to equity markets. Inverse exposure to the VIX, therefore, can expected to generally move in the same direction as equities—though products such as SVXY can be considerably more volatile.

Like most volatility ETPs, SVXY does not offer exposure to the spot VIX; rather, the returns generated by this product will often depend in large part on the slope of the futures curve. When the VIX futures market is in a state of steep contango—as it often has been historically—SVXY may offer exposure to a compelling strategy that can exploit structural inefficiencies. When the VIX market is backwardated, however, the strategy employed by this fund essentially has it flying into the wind, vulnerable to significant return erosion from the roll process.

It should also be noted that SVXY maintains a daily reset feature; over multiple holding periods, this product will be impacted by the compounding of returns. SVXY can potentially be a very powerful tool, but is generally appropriate only for more sophisticated investors; those without an understanding of the VIX or futures-based strategies should steer clear. And this ETF doesn’t belong in a long-term, buy-and-hold portfolio.

The exposure offered by SVXY is generally similar to XIV, a popular product from VelocityShares. It should be noted, however, that the structures of these products differ; SVXY is an ETF, while XIV is an ETN. Both have potential advantages and drawbacks; SVXY avoids the credit risk that is inherent in any ETN, though XIV will not incur tracking error when rolling holdings.

ETF Database Themes

Inverse Yes
Leveraged -0.5x
Asset Class Volatility
Region (General) North America
Region (Specific) U.S.

FactSet Classifications

Segment Inverse Alternatives:Volatility S&P 500 Short-Term
Category Tactical Tools
Focus Volatility
Niche S&P 500 Short-Term
Strategy Vanilla
Weighting Scheme Single Asset

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $55.16
  • 52 Week Hi $110.62
  • AUM $335.9 M
  • Shares 3.1 M

Historical Trading Data

  • 1 Month Avg. Volume 1,348,570
  • 3 Month Avg. Volume 1,531,406

Alternative ETFs in the ETF Database Inverse Volatility Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SVOL 0.50% $733.6 M 546,462 2.52%
Largest (AUM) SVOL 0.50% $733.6 M 546,462 2.52%
Most Liquid (Volume) SVIX 1.47% $129.2 M 938,473 9.51%
Top YTD Performer SVIX 1.47% $129.2 M 938,473 9.51%

Alternative ETFs in the FactSet Inverse Alternatives:Volatility S&P 500 Short-Term Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SVOL 0.50% $733.6 M 546,462 2.52%
Largest (AUM) SVOL 0.50% $733.6 M 546,462 2.52%
Most Liquid (Volume) SVIX 1.47% $129.2 M 938,473 9.51%
Top YTD Performer SVIX 1.47% $129.2 M 938,473 9.51%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

SVXY ETF Database Category Average FactSet Segment Average
Number of Holdings 1 4 4
% of Assets in Top 10 100.00% 100.00% 100.00%
% of Assets in Top 15 100.00% 100.00% 100.00%
% of Assets in Top 50 100.00% 100.00% 100.00%

Size Comparison

SVXY ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A N/A N/A
Mid (>2.7B) N/A N/A N/A
Small (>600M) N/A N/A N/A
Micro (<600M) N/A N/A N/A

SVXY Valuation

This section compares the P/E ratio of this ETF to its peers.

P/E Ratio
ETF Database Category Average
P/E Ratio
FactSet Segment Average
P/E Ratio

SVXY Dividend

This section compares the dividend yield of this ETF to its peers.

SVXY ETF Database Category Average FactSet Segment Average
Dividend N/A $ 0.08 $ 0.16
Dividend Date N/A N/A N/A
Annual Dividend Rate N/A $ 0.92 $ 0.96
Annual Dividend Yield N/A 4.06% 4.19%

SVXY Price and Volume Charts

View charts featuring SVXY price and volume data.

SVXY Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 37.13 M 1 Month Net Flows: 100.6 M 3 Month Net Flows: 35.25 M 6 Month Net Flows: 66.59 M 1 Year Net Flows: 54.81 M 3 Year Net Flows: -493.71 M 5 Year Net Flows: -437.47 M 10 Year Net Flows: 1.3 B

SVXY Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

5 Day Net AUM Change: -30.54 M
1 Month Net AUM Change: 55.52 M
3 Month Net AUM Change: 25.12 M
6 Month Net AUM Change: 90.56 M
1 Year Net AUM Change: 155.09 M
3 Year Net AUM Change: -137.56 M
5 Year Net AUM Change: -90 M
10 Year Net AUM Change: 204.69 M

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for SVXY 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 ETF Database 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 ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A- SVXY
Expenses B SVOL

A+ Overall Rated ETF:

SVXY Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

Expense Ratio
ETF Database Category Average
Expense Ratio
FactSet Segment Average
Expense Ratio

Tax Analysis

Max ST Capital Gains Rate 27.84%
Max LT Capital Gains Rate 27.84%
Tax On Distributions No distributions
Distributes K1 Yes
ESG Themes and Scores

SVXY does not have an ESG score. There are no ESG themes that map to this ETF.

SVXY Performance

This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.

SVXY ETF Database
Category Average
Factset Segment
1 Month Return 3.23% 2.73% 2.30%
3 Month Return 12.55% 10.89% 10.66%
YTD Return 6.73% 5.73% 6.13%
1 Year Return 72.20% 69.80% 55.84%
3 Year Return 39.80% 9.95% 7.96%
5 Year Return 16.70% 4.17% 3.34%

Geographic Exposure

The following charts reflect the geographic spread of SVXY's underlying holdings.

Holdings Analysis

The following charts reflect the allocation of SVXY's underlying holdings.

SVXY Technicals

Volatility Analysis

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

5 Day Volatility 80.24%
20 Day Volatility 22.10%
50 Day Volatility 21.61%
200 Day Volatility 25.30%
Beta 1.55
Standard Deviation 14.27%
5 Day Volatility
2 of 4

20 Day Volatility
2 of 4

50 Day Volatility
2 of 4

200 Day Volatility
2 of 4

2 of 4

Standard Deviation
1 of 4


  • 20 Day MA $107.57
  • 60 Day MA $104.57
  • MACD 15 Period 2.59
  • MACD 100 Period 12.10
  • Williams % Range 10 Day 3.89
  • Williams % Range 20 Day 2.49
  • RSI 10 Day 63
  • RSI 20 Day 60
  • RSI 30 Day 60
  • Ultimate Oscillator 64

Bollinger Bands

  • Lower Bollinger (10 Day) $104.45
  • Upper Bollinger (10 Day) $111.48
  • Lower Bollinger (20 Day) $103.68
  • Upper Bollinger (20 Day) $111.22
  • Lower Bollinger (30 Day) $103.51
  • Upper Bollinger (30 Day) $110.69

Support & Resistance

  • Support Level 1 $109.45
  • Support Level 2 $108.54
  • Resistance Level 1 $110.94
  • Resistance Level 2 $111.53


  • Stochastic Oscillator %D (1 Day) 66.06
  • Stochastic Oscillator %D (5 Day) 85.59
  • Stochastic Oscillator %K (1 Day) 61.95
  • Stochastic Oscillator %K (5 Day) 80.52


  • Tracking Difference Median (%) 134.96
  • Tracking Difference Max Upside (%) 159.80
  • Tracking Difference Max Downside (%) 50.42
  • Median Premium Discount (%) -0.01
  • Maximum Premium Discount (%) 0.32
  • Average Spread (%) 3.01
  • Average Spread ($) 3.01

Financial Advisor Report

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Fact Sheet

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

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