VelocityShares Daily Inverse VIX Medium-Term ETN (ZIV)
VelocityShares Daily Inverse VIX Medium-Term ETN operates in the Asset Management industry of the Financial Services sector. The stock last traded at $28.91, down 0.07% on the session, giving a market capitalisation of $37.6M. Its beta of -0.40 implies it has historically moved less than the broad market.
This investment product is engineered to deliver, after accounting for expenses, returns that are the inverse of the daily movement of the S&P 500 VIX Mid-Term Futures index. The aforementioned index provides market participants with exposure to various maturities of futures contracts tied to the VIX, which itself acts as an indicator of the S&P 500 Index's anticipated volatility over different future periods. The calculation of the VIX is predicated on the prevailing prices of S&P 500 Index put and call options. It is crucial to understand that these Exchange Traded Notes (ETNs) reflect the inverse daily performance of their associated index and are not a direct investment in the inverse of the VIX itself.
VelocityShares Daily Inverse VIX Medium-Term ETN is most often compared with the following Financial Services names: