ETF Evaluator:
ProShares VIX Short-Term Futures (VIXY)
Follow This ETF
(as of Jul 31)
Best Performing in Trading--Miscellaneous Over the Last Year
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| 37.1% | ProShares UltraShort Yen (YCS) |
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Risk
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Risk
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ETF Details
ProShares VIX Short-Term Futures Overview
ProShares VIX Short-Term Futures (VIXY) is a passively managed Miscellaneous Trading--Miscellaneous exchange-traded fund (ETF). ProShares launched the ETF in 2011.
The investment seeks investment results, before fees and expenses, that over time, match the performance of the S&P 500 VIX Short-Term Futures Index for a single day.
The index seeks to offer exposure to market volatility through publicly traded futures markets and is designed to measure the implied volatility of the S&P 500 over 30 days in the future.
About ProShares VIX Short-Term Futures (VIXY)
There are 1 members of the management team with an average tenure of 15.50 years: Management Team (2011). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 VIX Short Term Futures TR USD index with a weighting of 100%. ProShares VIX Short-Term Futures has 5 securities in its portfolio. The top 10 holdings constitute 15.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares VIX Short-Term Futures is part of the Other global asset class and is within the Miscellaneous ETF group. ProShares VIX Short-Term Futures has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares VIX Short-Term Futures has 52.2% of the portfolio in cash.
Assets Under Management
The fund has $197 million in total assets, which is above the $79 million average for the Trading--Miscellaneous category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VIXY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares VIX Short-Term Futures expense ratio is high compared to funds in the Trading--Miscellaneous category. ProShares VIX Short-Term Futures has an expense ratio of 0.96%, which is 6% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares VIX Short-Term Futures has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 46% for the Trading--Miscellaneous category.
Recently, in the month of June 2026, ProShares VIX Short-Term Futures returned -8.4%, which earned it a grade of C, as the Trading--Miscellaneous category had an average return of -10.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares VIX Short-Term Futures has a trailing yield of 0.00%, which is below the 76.91% category average.
The fund normally distributes its income none.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProShares VIX Short-Term Futures Grades
Year to date, the ETF has returned -17.3%, 17.8 percentage points worse than the category, which translates into a grade of D. The fund has returned -54.6% over the past year (grade of D), -40.3% over the past three years (grade of F) and -46.4% per year over the past five years (grade of F) and -47.9% per year over the past 10 years (grade of F).
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VIXY Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VIXY Return (NAV) | -8.4% | -38.0% | -54.6% | -40.3% | -46.4% | -47.9% |
| VIXY Return (Price) | -8.6% | -38.0% | -54.6% | -40.3% | -46.4% | -48.0% |
| NAV +/- Price Return | 0.168% | 0.053% | 0.031% | -0.014% | -0.015% | 0.070% |
| Trading--Miscellaneous Avg | -10.1% | 5.8% | -11.7% | -8.9% | -10.6% | -11.4% |
| VIXY Grade (NAV) | C | F | D | F | F | F |
| +/- Category (NAV) | 1.7% | -43.7% | -42.8% | -31.3% | -35.9% | -36.5% |
| VIXY Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
VIXY Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VIXY Return (NAV) | -17.3% | -42.9% | -27.3% | -72.8% | -24.6% | -72.5% | 11.9% | -68.1% | 65.3% | -72.5% | -68.0% |
| VIXY Return (Price) | -17.0% | -43.0% | -27.4% | -72.7% | -25.0% | -72.4% | 10.5% | -67.8% | 66.8% | -72.8% | -68.1% |
| NAV +/- Price Ret | -0.021% | 0.003% | 0.004% | -0.001% | 0.014% | -0.002% | -0.112% | -0.5% | 2.3% | 0.4% | 0.2% |
| Trading--Miscellaneous Avg | 0.5% | -8.8% | -5.4% | -17.0% | -10.3% | -12.4% | 6.5% | -12.0% | 5.8% | -4.1% | -10.4% |
| VIXY Grade (NAV) | D | F | F | F | D | F | B | F | A | F | F |
| +/- Category | -17.8% | -34.1% | -21.9% | -55.8% | -14.3% | -60.1% | 5.4% | -56.2% | 59.5% | -68.4% | -57.6% |
| Risk Measures | |
| Beta: | 45.61 |
| R-Squared: | 1% |
| Standard Deviation: | 43.2% |
| Category Risk Index: | 1.81 |
| Category Risk Rating: | High |
| Total Risk Index: | 3.55 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 198 Mil |
| Share Class Assets: | $ 198 Mil |
| Turnover: | na |
| Expense Ratio: | 0.96% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 VIX Short Term Futures TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | None |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 15.5 years | |||
| Average Tenure: 15.5 years | |||
| Managers (Year): Team Management (2011) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 5 |
| % in Top 10 Holdings: | 15.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 47.8% |
| Cash: | 52.2% |
Purchase Information
| Legal Structure: | Partnership (3C1) |
| Fund Family: | ProShares |
| Phone Number: | 240-497-6400 |
| Website: | www.proshares.com |
| Inception Date: | January 3, 2011 |
Expenses and Fees
| Expense Ratio (%): | 0.96% (Rating: High) |
| Category Average Expense Ratio (%): | 1.03% |
