XIV (VelocityShares Inverse VIX Short-Term ETN)
XIV Exposure and Basic Characteristics
XIV is currently by far the most liquid inverse VIX ETN and the most popular short volatility exchange traded product. It provides a negative (short) exposure to short-term VIX futures, approximately inverse to the S&P500 VIX Short-Term Futures Index.
Underlying index: S&P500 VIX Short-Term Futures Index ER
Exposure: Short end of the VIX futures curve (short positions in the first two VIX futures contracts, constantly rolling from the nearest to the second contract month to maintain 1 month maturity)
XIV options: Not available
Product type: ETN (exchange traded note)
Issuer: Credit Suisse AG
Inception date: 29 November 2010
Official Information and Links
The VelocityShares Daily Inverse VIX Short-Term ETNs are senior, unsecured obligations of Credit Suisse AG acting through its Nassau branch. The return on the ETNs is linked to the inverse of the daily performance of the S&P 500 VIX Short-Term Futures Index ER less the investor fee. Source: Factsheet (see links below).
XIV Quotes, Assets, and Trading Volume