They even admit that it doesn't track the VIX lol..
I don't think they said that before, but I could be wrong..
ProShares Ultra VIX Short-Term Futures ETF seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the S&P 500 VIX Short-Term Futures Index.†
ProShares Ultra VIX Short-Term Futures ETF provides leveraged exposure to the S&P 500 VIX Short-Term Futures Index, which measures the returns of a portfolio of monthly VIX futures contracts with a weighted average of one month to expiration.
Designed for knowledgeable investors who seek to:
Profit from increases in the expected volatility of the S&P 500, as measured by the prices of VIX futures contracts.
Reduce U.S. equity portfolio risk, since changes in the VIX Short-Term Futures Index have historically been negatively correlated to S&P 500 returns.
Intended for short-term use; investors should actively manage and monitor their investments, as frequently as daily.
Does not track the performance of the Cboe Volatility Index (VIX) and can be expected to perform very differently from the VIX.
This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. Please read the prospectus carefully before investing.
This leveraged ProShares ETF seeks a return that is 1.5x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return and ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.
Learn more about considerations for geared investing.
Read important information about investing in ProShares Volatility ETFs.
Important Notice Regarding NAV Calculation Times — For more information, please read the 8k.
What a joke..
ProShares Ultra VIX Short-Term Futures ETF seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the S&P 500 VIX Short-Term Futures Index.†
ProShares Ultra VIX Short-Term Futures ETF provides leveraged exposure to the S&P 500 VIX Short-Term Futures Index, which measures the returns of a portfolio of monthly VIX futures contracts with a weighted average of one month to expiration.
Designed for knowledgeable investors who seek to:
Profit from increases in the expected volatility of the S&P 500, as measured by the prices of VIX futures contracts.
Reduce U.S. equity portfolio risk, since changes in the VIX Short-Term Futures Index have historically been negatively correlated to S&P 500 returns.
Intended for short-term use; investors should actively manage and monitor their investments, as frequently as daily.
Does not track the performance of the Cboe Volatility Index (VIX) and can be expected to perform very differently from the VIX.
This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. Please read the prospectus carefully before investing.
This leveraged ProShares ETF seeks a return that is 1.5x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return and ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.
Learn more about considerations for geared investing.
Read important information about investing in ProShares Volatility ETFs.
Important Notice Regarding NAV Calculation Times — For more information, please read the 8k.
What a joke..
Many have made millions doing this, apparently, but I'm no expert on this..
Technically, shorting this would present the same risks as the SVXY trade that was popular for awhile before it cratered back in Feb 2018.
When it was popular, it became a trend to see managers at Mcdonalds and Target--people who barely get by--getting rich by trading SVXY. But as is usually the case, it all crashed eventually--as many experts had predicted it would--and there was all these horror stories of people losing everything, similar to some of the crypto fads that have existed in the past.