CBOE introduced weekly expirations for VIX futures in July 2015. The shorter time horizon found with weekly VIX futures contracts should result in a higher correlation and beta to the true daily price of the VIX Index.
The long fund (VMAX) seeks opportunities that arise should the VIX spike upward while the inverse fund (VMIN) seeks to gain as the VIX falls. Both funds will be actively managed with the objective of being fully invested in VIX futures at all times.
Laura Morrison, Senior Vice President, Global Head of Exchange Traded Products at Bats, said the team at REX Shares has deep experience in the ETF industry.
Morrison added they have a track record of creating ETFs that solve challenges faced by today’s investors.
“We’re thrilled to have their two new innovative products listed on the Bats ETF Marketplace and we look forward to a strong partnership,” Morrison said.
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