# Volatility ETFs: VIX futures tracking and roll cost

> 9 VIX-linked ETFs and ETNs, each against the VIX futures index it names, rebuilt by ETFIQ from Cboe settlements, with the roll cost to Oct 9, 2026.

Data as of Oct 9, 2026. Rebuilt every trading night.

Rebuilt every trading night. Figures as of Oct 9, 2026 .

## Volatility ETFs and ETNs, against the VIX futures they track

As of Oct 9, 2026, ETFIQ measures 9 funds linked to the Cboe VIX index through its futures. On Oct 8, 2026 the front two VIX futures settled at 17.62 and 18.01, a contango of 2.2%, and rolling the short-term futures cost 47.4% over the year to Oct 8, 2026. Each fund is measured against the index its own filing names, rebuilt by ETFIQ from Cboe VIX futures settlements, and against spot VIX, which is what most holders expect it to follow.

### Browse by strategy

### Long VIX futures

Holds VIX futures long at one times, so it rises when expected volatility rises and pays the roll cost when the futures curve slopes up.

| Ticker | Fund | Issuer | Tracks | Multiple | Total return 1Y | Index, rebuilt 1Y | Difference 1Y, pts | Spot VIX 1Y | Net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| VIXY | ProShares VIX Short-Term Futures ETF | ProShares | Short-term, total return | +1x | −48.9% | −47.6% | −1.3 pts | −5.5% | $221m |
| VIXM | ProShares VIX Mid-Term Futures ETF | ProShares | Mid-term, total return | +1x | −19.7% | −18.6% | −1.1 pts | −5.5% | $49m |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures | iPath | Short-term, total return | +1x | −48.1% | −47.6% | −0.5 pts | −5.5% | not read by ETFIQ |
| VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ET | iPath | Mid-term, total return | +1x | −19.2% | −18.6% | −0.7 pts | −5.5% | not read by ETFIQ |

### Inverse and short VIX futures

Holds VIX futures short, so it gains when expected volatility falls and collects the roll when the curve slopes up.

| Ticker | Fund | Issuer | Tracks | Multiple | Total return 1Y | Index, rebuilt 1Y | Difference 1Y, pts | Spot VIX 1Y | Net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SVXY | ProShares Short VIX Short-Term Futures ETF | ProShares | Short-term, total return | −0.5x | +26.4% | +22.2% | +4.2 pts | −5.5% | $258m |
| VYLD | Inverse VIX Short-Term Futures ETNs due March | JPMorgan | Short-term, points | −1x | +15.8% | +12.4% | +3.3 pts | −5.5% | not read by ETFIQ |

### Leveraged VIX futures

Seeks a multiple above one of a VIX futures index each day, which compounds both its moves and its roll cost.

| Ticker | Fund | Issuer | Tracks | Multiple | Total return 1Y | Index, rebuilt 1Y | Difference 1Y, pts | Spot VIX 1Y | Net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | ProShares | Short-term, total return | +1.5x | −68.2% | −66.5% | −1.7 pts | −5.5% | $249m |

### Volatility income

Sells volatility, through short VIX futures or options, and pays out what it collects; it loses when the VIX spikes.

| Ticker | Fund | Issuer | Paid out 1Y, % | Price 1Y | Total return 1Y | Spot VIX 1Y | Net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SVOL | Simplify Volatility Premium ETF | Simplify | 19.1% | −7.8% | +13.6% | −5.5% | $525m |
| ZVOL | Volatility Premium Plus ETF | Volatility Shares | 49.3% | −34.0% | +24.9% | −5.5% | $20m |

### What holding the futures cost

Every one of these funds holds VIX futures that expire, so it sells the expiring month and buys a later one. When later months cost more, which is contango and the usual state, each roll costs money even if the VIX stands still. The roll is what the index returned set against what a future of the index’s own maturity did over the same days. A fund short these futures collects it instead.

| Futures held | Index the funds name | Contango, front two months | Roll 1 month | Roll 3 months | Roll 1 year |
| --- | --- | --- | --- | --- | --- |
| Mid-term VIX futures | S&P 500 VIX Mid-Term Futures Index | +2.2% on Oct 8, 2026 | −1.7% | −6.8% | −15.8% |
| Short-term VIX futures | S&P 500 VIX Short-Term Futures Index | +2.2% on Oct 8, 2026 | −4.5% | −19.4% | −47.4% |

### Browse VIX funds in Leverage

These seek a multiple of a VIX futures index each day and are measured in Leverage against that multiple, so they are listed there rather than here.

### Against the S&P 500

The measures every alternatives fund is held to: how closely its weekly returns moved with the S&P 500 over the last year, and what it did in the weeks the index fell.

| Ticker | Fund | Issuer | Strategy | Correlation | Beta | Down-week capture, % | Against T-bills, pts | Net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SVOL | Simplify Volatility Premium ETF | Simplify | Volatility | +0.74 | +0.66 | 77.5 | +15.8 | $525m |
| SVXY | ProShares Short VIX Short-Term Futures ETF | ProShares | Volatility | +0.75 | +1.37 | 134.7 | +32.5 | $258m |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | ProShares | Volatility | −0.72 | −3.93 | −353.4 | −77.5 | $249m |
| VIXM | ProShares VIX Mid-Term Futures ETF | ProShares | Volatility | −0.64 | −0.82 | −66.6 | −25.7 | $49m |
| VIXY | ProShares VIX Short-Term Futures ETF | ProShares | Volatility | −0.72 | −2.62 | −241.3 | −58.9 | $221m |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures | iPath | Volatility | −0.72 | −2.60 | −244.7 | −58.3 | not read by ETFIQ |
| VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ET | iPath | Volatility | −0.65 | −0.82 | −65.0 | −25.3 | not read by ETFIQ |
| VYLD | Inverse VIX Short-Term Futures ETNs due March | JPMorgan | Volatility | +0.74 | +0.58 | 48.2 | +15.2 | not read by ETFIQ |
| ZVOL | Volatility Premium Plus ETF | Volatility Shares | Volatility | +0.65 | +0.85 | 65.5 | +24.6 | $20m |

### Where to next

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, Volatility ETFs: VIX futures tracking and roll cost, data as of Oct 9, 2026. https://etfiq.com/alternatives/volatility/
Licence: https://etfiq.com/license/ Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/alternatives/volatility/