SEE MORE: ETFs to Hedge Election Risks Ahead

VIXM tracks the S&P 500 VIX Mid-Term Futures Index, which follows longer dated VIX contracts by maintaining an average weighted settlement date of five months through rolling a portion of the position in the fourth month VIX futures contracts into the seventh month VIX futures contract on a daily basis.

UVXY tries to reflect the same underlying index as VIXY, except the leveraged ETF tries to produce the 2x or two times daily performance of the benchmark.

Alternatively, investors who expect the U.S. stock market to steadily strengthen with minimal volatility ahead can look to the ProShares Short VIX Short-Term Futures ETF (NYSEArca: SVXY), which follows the inverse or -100% daily performance of the same underlying index as VIXY.

Financial advisors who want to learn more about the CBOE Volatility Index can register for the Tuesday, October 18 webcast here.

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