SVXY
ProShares Short VIX Short-Term Futures ETF

Price: $62.56
Change: $0.44 (0.01%)
Last Updated:

Vitals

Issuer ProShares
Brand ProShares
Structure Commodity Pool
Expense Ratio 1.38%
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: U.S. - Volatility
  • 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 $35.32
  • 52 Week Hi $64.45
  • AUM $356.7 M
  • Shares 5.7 M

Historical Trading Data

  • 1 Month Avg. Volume 2,132,829
  • 3 Month Avg. Volume 3,165,646

Alternative ETFs in the ETF Database Leveraged Volatility Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest UVXY 0.95% $1.0 B 39 M -85.53%
Largest (AUM) UVXY 0.95% $1.0 B 39 M -85.53%
Most Liquid (Volume) UVXY 0.95% $1.0 B 39 M -85.53%
Top YTD Performer UVXY 0.95% $1.0 B 39 M -85.53%

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 1 1
% 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.

SVXY
P/E Ratio
N/A
ETF Database Category Average
P/E Ratio
N/A
FactSet Segment Average
P/E Ratio
N/A

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 N/A N/A
Dividend Date N/A N/A N/A
Annual Dividend Rate N/A N/A N/A
Annual Dividend Yield N/A N/A N/A

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: 0 1 Month Net Flows: -31.21 M 3 Month Net Flows: -79.2 M 6 Month Net Flows: -300.39 M 1 Year Net Flows: -256.83 M 3 Year Net Flows: -243.42 M 5 Year Net Flows: 1.57 B 10 Year Net Flows: 1.52 B

SVXY Price vs Flows AUM Influence Charts

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

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 Leveraged 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- UVXY
Expenses B SVXY
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

SVXY Expenses & Fees

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

Expenses Ratio Analysis

SVXY
Expense Ratio
1.38%
ETF Database Category Average
Expense Ratio
1.17%
FactSet Segment Average
Expense Ratio
1.38%

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.

SVXY ETF Database
Category Average
Factset Segment
Average
1 Month Return 2.17% -3.00% 2.17%
3 Month Return 10.61% -12.05% 10.61%
YTD Return 50.97% -17.28% 50.97%
1 Year Return 54.85% -16.15% 54.85%
3 Year Return 31.87% -32.83% 31.87%
5 Year Return -62.99% -81.43% -62.99%

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
131.67%
Rank
2 of 2

20 Day Volatility
16.67%
Rank
2 of 2

50 Day Volatility
27.72%
Rank
2 of 2

200 Day Volatility
30.13%
Rank
2 of 2

Beta
2.14
Rank
1 of 2

Standard Deviation
7.43%
Rank
2 of 2

Technicals

  • 20 Day MA $62.37
  • 60 Day MA $59.24
  • MACD 15 Period 0.21
  • MACD 100 Period 4.95
  • Williams % Range 10 Day 38.57
  • Williams % Range 20 Day 46.32
  • RSI 10 Day 56
  • RSI 20 Day 57
  • RSI 30 Day 57
  • Ultimate Oscillator 51

Bollinger Bands

  • Lower Bollinger (10 Day) $61.34
  • Upper Bollinger (10 Day) $63.44
  • Lower Bollinger (20 Day) $60.92
  • Upper Bollinger (20 Day) $63.69
  • Lower Bollinger (30 Day) $59.86
  • Upper Bollinger (30 Day) $63.79

Support & Resistance

  • Support Level 1 $61.30
  • Support Level 2 $60.04
  • Resistance Level 1 $63.28
  • Resistance Level 2 $64.00

Stochastic

  • Stochastic Oscillator %D (1 Day) 62.28
  • Stochastic Oscillator %D (5 Day) 49.33
  • Stochastic Oscillator %K (1 Day) 49.14
  • Stochastic Oscillator %K (5 Day) 44.72

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

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.

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

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