The Simple Math Behind the Inverse Volatility ETF Collapse [The Motley Fool]
ProShares Equities for Rising Rates ETF (EQRR)
US:NASDAQ Investor Relations:
proshares.com/funds/eqrr.html
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Source: The Motley Fool
It's a lesson short-sellers know well. For the past several years, the stock market has gone through a period of nearly unprecedented calm. Not only did the market move upward sharply, but it did so in a way that had almost no major downward movements along the way. That means those who bet on a continued lack of volatility by using inverse volatility ETFs earned some of the best returns in the market, including a near-tripling in 2017. That all came to a thundering halt on Feb. 5, and both VelocityShares Daily Inverse VIX Short-Term ETN (NYSEMKT: XIV) and ProShares Short VIX Short-Term Futures ( NYSEMKT:SVXY ) plunged more than 80% in after-hours trading that day. Credit Suisse , which oversees the VelocityShares exchange-traded note, said on Wednesday that Feb. 20 would be the last day of trading for the volatility-tracking product. ProShares took the opposite course, saying that its fund will be open for trading despite extremely heavy losses. The reasons f
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