Another ETF also underscores the skittishness being displayed by some investors. The PowerShares S&P 500 Downside Hedged Portfolio (NYSEArca: PHDG) helps investors maintain long equity during turbulent markets by holding positions in CBOE Volatility Index futures contracts.

That combination helped PHDG return 3.7% and although the ETF’s volatility protection can contribute to a lag of pure equity ETFs when markets rise, PHDG’s long equity exposure is large enough (over 97% that the fund also hit a new high Monday.

Over the past 30 days, PHDG has added nearly $102 million in new assets, a total surpassed by just five other PowerShares ETFs. In fact, PHDG has more than doubled in size this year. [These ETFs Have Doubled in Size in 2014]

PowerShares S&P 500 Downside Hedged Portfolio