This product is the inverse component to its cousin VIX ETN. The product seeks to generate returns by taking short positions on the CBOE Volatility Index. XIV works as a great tool in bull markets, as it typically moves along with general equities. This begs the question; why not just invest in a blue chip ETF? XIV offers more complexities than a simple blue-chip fund, in that its behavior can be very different. This product can really shine during horizontal markets, where volatility is flat, as are equities. While major indexes will remain at constant levels, this product can benefit from low volatility in overall markets, and create a nice return for its investors. Similar to its cousin fund, VXX, this product is not meant for the average investor, and should be handled with great care when being added to a portfolio.
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