SVIX: What Happened? Is It Still A Buy?

  • -1x Short VIX Futures ETF has been negatively impacted by a rare VIX spike, driven by tariff wars, similar to past crises like the GFC and Covid. The ETF's short volatility position suffered, the fund being short the first two months of VIX futures. For SVIX to recover, the VIX futures curve needs to shift lower, which requires a significant reduction in market volatility.