VelocityShares 1x Long VSTOXX Futures ETN (EVIX)
VelocityShares 1x Long VSTOXX Futures ETN operates in the Asset Management industry of the Financial Services sector. The stock last traded at $11.25, down 0.04% on the session, giving a market capitalisation of $2.9M. Its beta of 0.00 implies it has historically moved less than the broad market.
This VelocityShares ETN, identified by the symbol EVIX, is designed to track the performance of the VSTOXX Short-Term Futures Investable Index. This underlying index aims to replicate a bullish position in a basket of VSTOXX futures contracts. These futures are structured to provide exposure to the anticipated one-month volatility of the EURO STOXX 50 Index, specifically focusing on constant-maturity, one-month forward implied volatilities. However, a significant factor impacting this index, and consequently the ETN, is the bid-ask spread incurred during the futures roll process, which will invariably diminish the overall value of both the Long Investable Index and the ETN itself.
VelocityShares 1x Long VSTOXX Futures ETN is most often compared with the following Financial Services names: