Stock Symbol TVIX: A Comprehensive Guide

TVIX is an exchange-traded note (ETN) that tracks the performance of the S&P 500 VIX Short-Term Futures Index.

The underlying index is designed to provide investors with exposure to the volatility of the S&P 500 Index over a short-term period.

TVIX is not a traditional exchange-traded fund (ETF) and does not hold any underlying assets, but rather uses a derivative strategy to track the index.

This means that TVIX is highly sensitive to changes in the underlying index and can be subject to significant price swings.

TVIX, or the VelocityShares Daily 2x VIX Short Term ETN, is an exchange-traded note that allows investors to gain exposure to the VIX index.

The VIX index is a measure of the expected volatility of the S&P 500 stock market index.

TVIX is designed to provide a daily return that is twice the daily return of the VIX index.

It was listed on the NYSE Arca exchange in 2010.

The note is structured as an ETN, which means it's a debt instrument issued by a bank or other financial institution.

TVIX is designed to be used as a hedging tool or a way to speculate on market volatility.

The note's performance is closely tied to the VIX index, which can be volatile.

Trading the TVIX can be a challenging and unpredictable experience. The TVIX ETN has no liquid market, making it difficult to buy or sell shares.

Investors who hold TVIX may be able to arrange an OTC quote and transaction with their broker, but if no buyer can be found, the notes will come due in 2030 and investors will receive a cash payment per ETN equal to the applicable redemption value.

The performance of TVIX is not representative of the underlying VIX, and it's not suitable for long-term investors. In fact, the 1-year return of TVIX is -90.14%, and its 5-year annualized return is -82.98%.

Here's a comparison of TVIX's performance with the S&P 500 index:

As you can see, TVIX's performance is significantly worse than the S&P 500 index. In fact, its 5-year return is -100%.

The TVIX product is designed to track the S&P500 VIX Short-Term Futures Index ER.

This underlying index is a benchmark for measuring the market's expected volatility over a short period.

The TVIX product has a short end exposure, focusing on the near-term end of the VIX futures curve.

This means it's a combination of the first and second VIX futures contract months, with a constant one-month rolling long position.

The product's design is geared towards capturing the volatility that's expected to occur in the near term.

The Daily 2x VIX ETN, also known as TVIX, is a popular investment tool for traders looking to manage volatility risk. The current price of TVIX is $26.900 USD today.

One of the key characteristics of TVIX is its tendency to decay rapidly, leading to a steadily decreasing share price over time. This is due to its structure using futures contracts.

If you're considering trading TVIX, be aware that its price may drop significantly. In fact, it may drop from $26.900 USD to $16.754 USD, representing a change of -37.719%.

To give you a better sense of TVIX's performance, let's take a look at its return vs. the S&P 500 over the past few years. Here's a comparison of their 1-year, 5-year, and 5-year annualized returns:

Keep in mind that TVIX was designed to provide daily trading tools for sophisticated investors, but it's not meant to be held for extended periods of time.

Holders of TVIX may be able to arrange an OTC quote and transaction from their broker, depending on that broker's capabilities.

The NAV of the TVIX ETN is still available, but there is no liquid market for TVIX notes.

Investors who paid more for their ETNs than the amount they receive upon maturity will suffer a loss on their investment.

In 2025, the price of the VelocityShares Daily 2x VIX Short-Term ETN Fund is forecasted to fluctuate significantly.

Here's a breakdown of the forecasted prices for 2025:

TVIX, a popular exchange-traded note (ETN) that tracks the VIX index, is known for its high volatility. This makes it a high-risk investment.

The VIX index, also known as the fear index, measures market expectations of near-term volatility. High VIX values indicate investor fear and anxiety.

Investors should be aware that TVIX can lose significant value if the VIX index declines, as happened in 2008.

The VelocityShares Daily 2x VIX Short-Term ETN fund price may drop from 26.900 USD to 16.754 USD. This change will be -37.719%.

A significant drop like this can be unsettling, especially for those who have invested in the fund.

The Survivors of the Volatility ETF Collapse Are Riskier Than the Victims. TVIX and other impacted ETNs will remain outstanding, but they'll no longer trade on any national securities exchange.

Their primary source of liquidity is gone, making it tough for existing holders to sell their ETNs in the secondary market. This lack of liquidity is a major concern for investors.

The ETNs may still trade on an over-the-counter (OTC) basis, but this market is often more volatile and less regulated. This can be a nightmare for investors who need to sell their ETNs quickly.

The outstanding ETN notes are not due until Dec. 4, 2030, but Credit Suisse has the option to accelerate their maturity. This means investors could be facing a forced sale of their ETNs at a potentially bad time.

The suspending of further issuances of the ETNs further exacerbates the liquidity problem, making the survivors of the volatility ETF collapse riskier than the victims.

TVIX has a notable history, especially when it comes to its delisting. In June 2020, Credit Suisse announced the permanent discontinuation of TVIX and several other leveraged ETNs in its VelocityShares line.

Credit Suisse made this decision as part of its efforts to align its product suite with its broader strategic growth plans. This move was aimed at managing its suite of exchange-traded notes.

Existing shares of TVIX will remain outstanding after delisting, but they won't trade on any national securities exchange.

The ETNs may still trade on an over-the-counter (OTC) basis, but this is not guaranteed.

Delisting removed the primary source of liquidity for TVIX, making it difficult for existing holders to sell their ETNs in the secondary market.

The outstanding ETN notes are not due until Dec. 4, 2030, although Credit Suisse has the option to accelerate their maturity.

Credit Suisse has not elected to accelerate the maturity of the ETNs at this point.

The delisting of TVIX in 2020 was part of Credit Suisse's effort to better align its product suite with its broader strategic growth plans.

The decision to delist TVIX was announced in June 2020, along with the delisting of several other leveraged ETNs in Credit Suisse's VelocityShares line.

The 2012 Disaster was a wake-up call for many investors, particularly those who invested in the TVIX. The TVIX experienced a massive collapse of over 50% in just 48 hours, falling from $14.43 to $7.16.

This collapse was completely unrelated to the underlying moves of the VIX Index, which actually rose higher on the second day. The price collapse was largely driven by market forces, with the TVIX experiencing a monthly price decay of around 8% to 13%, depending on market volatility.

Credit Suisse implemented 10 to 1 reverse stock splits when the price fell under certain thresholds, but this didn't prevent the collapse. In fact, the TVIX had several such splits since inception, with the last one taking place on Dec. 2, 2019.

Retail investors were caught off guard by the sudden drop, with the TVIX subsequently collapsing 29.3% on March 22, 2012, and then another 29.8% the following day. This led to many class-action lawsuits, with the suspicious timing of the sell-off and news release being cited as a major concern.

The market info for TVIX is quite volatile, with a 32.9% increase in March 2025, followed by a 31.15% increase in April 2025.

The price forecast for TVIX in 2025 shows a steady increase from March to June, with a 22.24% increase in June. However, the trend takes a sharp turn in July with a -53.83% decrease.

By August, the price has dropped further to -61.16%, and by September, it has plummeted to -20647.05%. This drastic drop is likely due to the lack of a liquid market for TVIX notes.

The price forecast for the rest of the year shows a slight increase in October with a 98.65% increase, but this is followed by a massive -98550.84% decrease in November.

The final price forecast for December shows a -321.4% decrease, bringing the price down to $0.94.

The VelocityShares Daily 2X VIX Short-Term ETN, also known as TVIX, was issued by Credit Suisse Securities on November 29, 2010.

It tracked the CBOE Volatility Index (VIX) Short-Term Futures Index with 200% leverage on daily volatility moves.

The TVIX was delisted in June 2020, along with several other VelocityShares leveraged ETNs.

Despite its delisting, leveraged exchange-traded products and investments linked to volatility indexes like the VIX remain popular.

These products allow investors to gain exposure to volatility with a high degree of leverage.

The TVIX was ultimately de-listed due to its popularity and the ongoing demand for similar products.

Index trading, specifically with products like TVIX, has its pros and cons. One of the main advantages is that ETFs and ETNs have shares that trade throughout the day like a stock, making them accessible and cost-effective.

This accessibility is particularly beneficial for short-term and day traders who can use them to speculate on or hedge against daily volatility moves. Inverse or leveraged products provide versatility, allowing traders to take on more risk or reduce it.

However, there are also some significant drawbacks to consider. Contango in the ETN construction leads to price decay over time, making them a losing bet for any long-term holder.