XVIX (ETRACS Daily Long-Short VIX ETN)

XVIX Exposure and Basic Characteristics

XVIX is a VIX ETN by UBS ETRACS, which unlike most other VIX ETFs and ETNs doesn’t take a directional (long or short) volatility position, but represents exposure to a relative value VIX play: long medium term VIX futures and short short-term VIX futures. The value of XVIX should generally increase when VIX futures curve is steepening (medium term futures outperform short term futures, which is usually when spot VIX goes down), but in the long run it is also heavily influenced by the cost (or yield) of rolling the positions.

Direction: Long-Short (relative value)

Underlying index: S&P 500 VIX Futures Term-Structure Index Excess Return (Bloomberg: SPVXTSER)

Exposure: 100% long the middle of VIX futures curve (S&P500 VIX Mid-Term Futures Index ER) and 50% short the short end of VIX futures curve (S&P500 VIX Short-Term Futures Index ER).

XVIX options: Not available

Product type: ETN (exchange traded note)

Issuer: UBS AG

Provider: UBS ETRACS

Inception date: 30 November 2010

Official Information and Links

The ETRACS Daily Long-Short VIX ETN is linked to the performance of the S&P 500 VIX Futures Term-Structure Index Excess Return — Ticker: SPVXTSER. … The Index is a composite Index that measures the return from taking a long 100% position in the S&P 500 VIX Mid-Term Futures Index Excess Return with a short, or inverse, 50% position in the S&P 500 VIX Short-Term Futures Index Excess Return, with daily rebalancing of the long and short positions. Source: Factsheet (see links below).

XVIX product page:

XVIX factsheet:

XVIX prospectus:

Provider website:

XVIX Quotes, Assets, and Trading Volume

Yahoo Finance:


Related pages

vxx tickerdow divisorhow to calculate percent deviationoption delta hedgingtrading the vixcalculating the variance in excelsample size standard deviation calculatorln x excelsmoothed rsi indicatordaily closing stock pricessharpe ratio excelblack scholes put calculatorhow to calculate square root in excelvix backwardationsample covariance excelrisk not in varstandard deviation formula in exceleuro stoxx 50 historical datahow is the vix calculateds&p 2x etfvariance formula for grouped dataspx futures bloombergwacc weighted average cost of capitalcompute the weighted average cost of capitalstandard deviation formula shortcutweighted average calculator accountingipath barclayssd formula in excel3x vix etfoptions volatility calculatorvariance on calculatorstatistics kurtosiscontinuously compounded return formulastandard deviation calculatorshistorical vixcalculating rate of return in excelhow to put power in excel formulavelocity shares etfexcel annualized returnmacd divergencemerits and demerits of central tendencyotm call optionetfs listtrading hedge fundsformula for average deviationvxz fact sheetema calculation formulajohn hull futures options and other derivativesblackscholes formulagreek letters in excelstandard deviation formula calculatorblack scholes original papersec 13fvix option strategieshow to calculate weighted price indexshort payoff definitiondefinition sharpe ratiosum of squares in excels&p futures symbolcalculate smaexcel formula for squarestandard deviations calculatorstraddle calculatorvix trading strategyshort call payoffberkshire hathaway 13fvix futures contractinvest in vixhow to calculate sharpe ratiovolatility black scholesaverage equation in excelcalculate std deviationstd deviation and variance