VYLDInverse VIX Short-Term Futures ETNs due March 22, 2045
Seeks to provide returns that are inversely correlated to the performance of the VIX Short-Term Futures Index.
By JPMorgan · Launched 2025
0.85%
#4,514 of 5,861 · expensive
$4M
#5,285 of 5,861 · small
+16.7%
1 year
#4,162 of 5,861 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundAsset class
AlternativeRegion
North americaStrategy
Volatility strategy
Index tracked
S&P 500 VIX Short-Term Futures Index
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks to provide returns that are inversely correlated to the performance of the VIX Short-Term Futures Index.
- Strategy
- Invests primarily in VIX futures contracts to achieve inverse exposure to the VIX Short-Term Futures Index. The fund aims to provide a daily return that is the opposite of the index's performance, making it suitable for hedging against volatility.
- Inception date
- March 19, 2025
- Fund family
- JPMorgan
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can be right and still lose
This fund returns the opposite of its benchmark's daily move, then resets. Hold it longer and the daily compounding takes over: the market can move your way over a week and you still finish down. It works as a one-day hedge and nothing beyond that.
Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-04