{
 "ticker": "SVIX",
 "name": "-1x Short VIX Futures ETF",
 "issuer": "Volatility Shares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/svix",
 "html": "https://etfiq.com/funds/svix",
 "markdown": "https://etfiq.com/funds/svix.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: SVIX returned +21.7% where its own daily promise gave +22.6%, 0.9 points short.",
 "key_facts": [
  {
   "key": "what_vixy_did",
   "label": "What VIXY did",
   "value": "\u221221.3%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SVIX, what VIXY did: \u221221.3%, as of Sep 30, 2026."
  },
  {
   "key": "what_1_times_a_day_gives",
   "label": "What \u22121 times a day gives",
   "value": "+22.6%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SVIX, what \u22121 times a day gives: +22.6%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+21.7%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SVIX, what the fund returned: +21.7%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22120.9 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SVIX, the fund itself cost: \u22120.9 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$138m",
   "source": "issuer page, as of Sep 15, 2026",
   "as_of": "2026-09-30",
   "sentence": "SVIX, net assets: $138m (issuer page, as of Sep 15, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SVIX, expense ratio: not read by ETFIQ, as of Sep 30, 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": "-1.02 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": "net_assets",
   "label": "Net assets",
   "value": "$138m",
   "source": "issuer page, as of Sep 15, 2026"
  },
  {
   "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": "37% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+1.2%",
   "VIXY": "\u22122.0%",
   "-1x the move": "+2.0%",
   "Difference": "\u22120.7 pts",
   "VIXY moved about": "34%"
  },
  {
   "window": "3 months",
   "Fund": "+21.7%",
   "VIXY": "\u221221.3%",
   "-1x the move": "+21.3%",
   "Difference": "+0.4 pts",
   "VIXY moved about": "37%"
  },
  {
   "window": "6 months",
   "Fund": "+79.0%",
   "VIXY": "\u221249.5%",
   "-1x the move": "+49.5%",
   "Difference": "+29.5 pts",
   "VIXY moved about": "42%"
  },
  {
   "window": "1 year",
   "Fund": "+34.4%",
   "VIXY": "\u221247.5%",
   "-1x the move": "+47.5%",
   "Difference": "\u221213.2 pts",
   "VIXY moved about": "56%"
  },
  {
   "window": "3 years",
   "Fund": "+3.0%",
   "VIXY": "\u221281.8%",
   "-1x the move": "+81.8%",
   "Difference": "\u221278.8 pts",
   "VIXY moved about": "71%"
  },
  {
   "window": "Since launch",
   "Fund": "+94.3%",
   "VIXY": "\u221294.6%",
   "-1x the move": "+94.6%",
   "Difference": "\u22120.4 pts",
   "VIXY moved about": "67%"
  }
 ],
 "questions": [
  {
   "q": "Did SVIX return -1 times VIXY?",
   "a": "Over the window to Sep 30, 2026, VIXY moved \u221221.3% and SVIX returned +21.7%. \u22121 times that move is +21.3%, so the fund came out 0.4 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": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}