Industry description
The investment seeks daily investment results, before fees and expenses, that correspond to one times (1x) of the S&P 500 VIX Mid Term Futures Inverse Daily Index.
The fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing its assets in futures contracts based on the Chicago Board Options Exchange, Incorporated Volatility Index, that comprise the index and other “Financial Instruments”. The index is designed to measure the performance of the inverse of the underlying index. The fund is non-diversified.