{
 "ticker": "SVIX",
 "name": "-1x Short VIX Futures ETF",
 "issuer": "not established",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/SVIX",
 "html": "https://etfiq.com/funds/SVIX",
 "markdown": "https://etfiq.com/funds/SVIX.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: SVIX returned +27.5% where its own daily promise gave +28.7%, 1.3 points short.",
 "key_facts": [
  {
   "key": "what_vixy_did",
   "label": "What VIXY did",
   "value": "\u221225.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SVIX, what VIXY did: \u221225.7%, as of Sep 11, 2026."
  },
  {
   "key": "what_1_times_a_day_gives",
   "label": "What \u22121 times a day gives",
   "value": "+28.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SVIX, what \u22121 times a day gives: +28.7%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+27.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SVIX, what the fund returned: +27.5%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.3 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SVIX, the fund itself cost: \u22121.3 pts, as of Sep 11, 2026."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SVIX, expense ratio: not read by ETFIQ, as of Sep 11, 2026."
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "VIXY",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SVIX, underlying: VIXY, as of Sep 11, 2026."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-1 times the daily move of VIXY, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "-1.07 times, against -1 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "VIXY",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "asset class, volatility",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Mar 30, 2022",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "42% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+6.6%",
   "VIXY": "\u22127.8%",
   "-1x the move": "+7.8%",
   "Difference": "\u22121.2 pts",
   "VIXY moved about": "33%"
  },
  {
   "window": "3 months",
   "Fund": "+27.5%",
   "VIXY": "\u221225.7%",
   "-1x the move": "+25.7%",
   "Difference": "+1.8 pts",
   "VIXY moved about": "42%"
  },
  {
   "window": "6 months",
   "Fund": "+69.2%",
   "VIXY": "\u221248.9%",
   "-1x the move": "+48.9%",
   "Difference": "+20.3 pts",
   "VIXY moved about": "50%"
  },
  {
   "window": "1 year",
   "Fund": "+33.0%",
   "VIXY": "\u221247.1%",
   "-1x the move": "+47.1%",
   "Difference": "\u221214.2 pts",
   "VIXY moved about": "56%"
  },
  {
   "window": "3 years",
   "Fund": "\u221211.8%",
   "VIXY": "\u221279.3%",
   "-1x the move": "+79.3%",
   "Difference": "\u221291.1 pts",
   "VIXY moved about": "71%"
  },
  {
   "window": "Since launch",
   "Fund": "+90.1%",
   "VIXY": "\u221294.5%",
   "-1x the move": "+94.5%",
   "Difference": "\u22124.4 pts",
   "VIXY moved about": "68%"
  }
 ],
 "questions": [
  {
   "q": "Did SVIX return -1 times VIXY?",
   "a": "Over the window to Sep 11, 2026, VIXY moved \u221225.7% and SVIX returned +27.5%. 1 times that move is +25.7%, so the fund came out 1.8 points ahead of it."
  },
  {
   "q": "Why does SVIX not return -1 times over a year?",
   "a": "Because it resets daily. SVIX aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}