Provide exposure to the S&P 500 VIX Mid-Term Futures Index Total Return. Offer a way to invest in market volatility through CBOE Volatility Index futures. Now — the numbers.
An investor who bought at the very peak is down 64% today. The business is the same; what changed most is the price — and the expectations — the market pins on it.
This is a fund, not a company — there are no company accounts here to point to a strength. What it holds is what it is.
Since the drop from its peak, buyer appetite hasn’t come back.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.