ETF Evaluator:
-1x Short VIX Futures ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Trading--Inverse Equity Over the Last Year
| 204.3% | T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) |
| 169.7% | Defiance Daily Target 2X Short MSTR ETF (SMST) |
| 53.1% | Direxion Daily NFLX Bear 1X Shares (NFXS) |
| 39.2% | -1x Short VIX Futures ETF (SVIX) |
| 39.1% | GraniteShares 2x Short COIN Daily ETF (CONI) |
Risk
Index
Risk
Index
ETF Details
-1x Short VIX Futures ETF Overview
-1x Short VIX Futures ETF (SVIX) is a passively managed Miscellaneous Trading--Inverse Equity exchange-traded fund (ETF). VS TRUST launched the ETF in 2022.
The investment seeks daily investment results, before fees and expenses, that correspond to the performance of the Short VIX Futures Index for a single day.
The index measures the daily inverse performance of a portfolio of first and second month VIX futures contracts. This theoretical portfolio is rolled each day to maintain a consistent time to maturity of the futures contracts. The index is calculated daily at 4:00 p.m. (Eastern time) and at a value calculated from the average price for the futures contracts between 3:45 p.m. (Eastern time) and 4:00 p.m. (Eastern time).
About -1x Short VIX Futures ETF (SVIX)
There are 1 members of the management team with an average tenure of 1.87 years: Management Team (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Short VIX Futures USD index with a weighting of -100%. -1x Short VIX Futures ETF has 7 securities in its portfolio. The top 10 holdings constitute 91.8% 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.
-1x Short VIX Futures ETF is part of the Other global asset class and is within the Miscellaneous ETF group. -1x Short VIX Futures ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -91.1% 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). -1x Short VIX Futures ETF has 125.5% of the portfolio in cash.
Assets Under Management
The fund has $171 million in total assets, which is above the $75 million average for the Trading--Inverse Equity 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.
SVIX 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 -1x Short VIX Futures ETF expense ratio is high compared to funds in the Trading--Inverse Equity category. -1x Short VIX Futures ETF has an expense ratio of 3.93%, which is 243% higher than its category average, making the fund expense ratio grade a F. 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. -1x Short VIX Futures ETF 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 1085% for the Trading--Inverse Equity category.
Recently, in the month of July 2026, -1x Short VIX Futures ETF returned 1.5%, which earned it a grade of C, as the Trading--Inverse Equity category had an average return of 7.3%. 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.
-1x Short VIX Futures ETF has a trailing yield of 0.00%, which is below the 5.32% category average.
The fund normally distributes its income annually and its capital gains annually.
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.
-1x Short VIX Futures ETF Grades
Year to date, the ETF has returned -0.1%, 25.7 percentage points better than the category, which translates into a grade of A. The fund has returned 39.2% over the past year (grade of A) and -7.2% over the past three years (grade of A).
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SVIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SVIX Return (NAV) | 1.5% | 24.5% | 39.2% | -7.2% | na | na |
| SVIX Return (Price) | 1.8% | 24.7% | 39.1% | -7.3% | na | na |
| NAV +/- Price Return | -0.350% | -0.211% | 0.020% | 0.106% | na | na |
| Trading--Inverse Equity Avg | 7.3% | -12.0% | -29.4% | -28.2% | -22.9% | -29.6% |
| SVIX Grade (NAV) | C | A | A | A | na | na |
| +/- Category (NAV) | -5.9% | 36.5% | 68.5% | 21.0% | na | na |
| SVIX Tax-Cost Ratio | na | na | 0.0% | 0.0% | na | na |
SVIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SVIX Return (NAV) | -0.1% | -4.5% | -32.8% | 158.2% | na | na | na | na | na | na | na |
| SVIX Return (Price) | -0.1% | -4.5% | -32.8% | 157.4% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.406% | 0.009% | -0.001% | -0.005% | na | na | na | na | na | na | na |
| Trading--Inverse Equity Avg | -25.8% | -35.3% | -26.4% | -26.2% | 15.2% | -33.5% | -52.3% | -39.8% | 9.5% | -34.8% | -33.2% |
| SVIX Grade (NAV) | A | A | D | A | na | na | na | na | na | na | na |
| +/- Category | 25.7% | 30.8% | -6.4% | 184.4% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 2.92 |
| R-Squared: | 49% |
| Standard Deviation: | 54.5% |
| Category Risk Index: | 1.41 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 4.45 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 172 Mil |
| Share Class Assets: | $ 172 Mil |
| Turnover: | na |
| Expense Ratio: | 3.93% |
| Index Fund: | Yes |
| Index Tracked: | Short VIX Futures USD |
| Index Weighting: | -100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.9 years | |||
| Average Tenure: 1.9 years | |||
| Managers (Year): Team Management (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 7 |
| % in Top 10 Holdings: | 91.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | -91.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 65.6% |
| Cash: | 125.5% |
Purchase Information
| Legal Structure: | Grantor Trust |
| Fund Family: | VS TRUST |
| Phone Number: | 866-261-0273 |
| Website: | www.volatilityshares.com |
| Inception Date: | March 28, 2022 |
Expenses and Fees
| Expense Ratio (%): | 3.93% (Rating: High) |
| Category Average Expense Ratio (%): | 1.15% |
