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iPath Long Enh S&P 500 VIX MT Fut ETN II Message Board

warlord_shea 1 post  |  Last Activity: Jun 8, 2015 2:23 PM Member since: Mar 7, 2008
  • Reply to

    Not tracking well at all

    by jcofone May 21, 2015 10:36 PM
    warlord_shea warlord_shea Jun 8, 2015 2:23 PM Flag

    It doesn't track spot vix. According to the prospectus, it tracks spot vix PLUS OR MINUS a premium or discount. You can calculate this premium (discount) on their NAV page daily.

    Because VIX was pretty low at launch, a lot more investors were betting VXUP, meaning VXDN got a steep discount. That number was nearly 25% discount for ONE MONTH! You'd have to be right by a lot to win with this vehicle.