The 2x Long VIX Futures ETF (Ticker: UVIX) is a leveraged VIX-linked ETF that seeks to provide daily investment results, before fees and expenses, that correspond generally to twice the performance of the Long VIX Futures Index (Ticker: LONGVOL).
The Long VIX Futures Index expresses the daily performance of a theoretical portfolio of first and second month VIX futures contracts that are rolled daily. The Index determines its daily settlement price from the Time Weighted Average Price (TWAP) of its theoretical portfolio over the last 15 minutes of the regular equity trading session.