iPath S&P 500 Dynamic VIX ETN (XVZ)
iPath S&P 500 Dynamic VIX ETN operates in the Asset Management industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $38.38, up 0.29% on the session, giving a market capitalisation of $12.9M. Its beta of -0.89 implies it has historically moved less than the broad market.
This exchange-traded note (ETN) is structured to offer investors a way to participate in the performance of the S&P 500 Dynamic VIX Futures Total Return Index. The underlying index itself employs an adaptive strategy, actively shifting its holdings between short-term and mid-term VIX futures contracts. This allocation decision is made by continually assessing the gradient, or steepness, of the implied volatility curve. Its dual objectives are to perform advantageously during periods of increased market volatility and to minimize the 'roll cost' inherent in maintaining positions linked to future implied volatility.
iPath S&P 500 Dynamic VIX ETN is most often compared with the following Financial Services names: