Assuming I didn't want to trade VIX futures, which ETF makes the best substitution?
I am interested in the ETFs because:
1) no rollovers
2) OEC doesn't offer VIX futures
I've seen the following:
VXX (S&P500 short-term futures)
IVO (inverse)
XXV (inverse S&P500)
2x:
SVXY (ProShares short VIX short-term)
TVIX (VelocityShares Daily 2x VIX short-term)
VZZ (Long Enhanced S&P500 mid-term)
VXZ (S&P500 VIX mid-term futures)
VIXM (ProShares mid-term futures)
VIXY (ProShares short-term futures)
XVIX (daily long-short VIX)
What is the difference between short, mid, and long term with regard to VIX indexes?
I understand the difference between the regular and the 2x ones.
Some of them are not what I expect.
For example, here is a chart comparing VXX with XXV, which I would expect to be exact opposites of each other, yet they are obviously not:
Even two VIX ETFs that have the same description, such as TVIX and VIXY (both are 2x short term) are not even:
What's going on? Why is there so much difference between products with identical descriptions?
I am interested in the ETFs because:
1) no rollovers
2) OEC doesn't offer VIX futures
I've seen the following:
VXX (S&P500 short-term futures)
IVO (inverse)
XXV (inverse S&P500)
2x:
SVXY (ProShares short VIX short-term)
TVIX (VelocityShares Daily 2x VIX short-term)
VZZ (Long Enhanced S&P500 mid-term)
VXZ (S&P500 VIX mid-term futures)
VIXM (ProShares mid-term futures)
VIXY (ProShares short-term futures)
XVIX (daily long-short VIX)
What is the difference between short, mid, and long term with regard to VIX indexes?
I understand the difference between the regular and the 2x ones.
Some of them are not what I expect.
For example, here is a chart comparing VXX with XXV, which I would expect to be exact opposites of each other, yet they are obviously not:
Even two VIX ETFs that have the same description, such as TVIX and VIXY (both are 2x short term) are not even:
What's going on? Why is there so much difference between products with identical descriptions?