ZIVVelocityShares Daily Inverse VIX Medium-Term ETN
ZIV Fund Description
The VelocityShares Daily Inverse VIX Medium-Term ETN provides daily inverse exposure to an index that tracks the price performance of futures contracts on the VIX with an average maturity of 5 months.
ZIV Factset Analytics Insight
ZIV provides inverse exposure to midterm VIX futures in a note with decent liquidity, allowing investors to make a short-term bet against stock price volatility. While most of the action in VIX futures is in the near-term space, ZIV offers -1x exposure to futures with 5 months' maturity on average. The ETN is designed to be held for very short periods of time—in fact, the -1x multiple holds true for just one day. With such a short investment horizon, trading costs are paramount. ZIV trades with decent volume, at average spreads. While hardly illiquid, this activity pales next to sister-fund XIV (-1x short-term coverage), which trades with significantly higher volume and thin spreads. In all, ZIV has modest assets and so-so Tradability, but it's the only game in town for those needing -1x exposure to the middle part of the VIX futures term structure.
ZIV CHARTS AND PERFORMANCE
ZIV Portfolio Data
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ZIV Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of ZIV. ZIV is rated a 5 out of 5.