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BetaPro ETFs
A futures-based commodity fund, hedged to Canadian dollars, for 0.85% a year.
Funds of this type differ on a small set of facts. Where this fund sits on each:
Leveraged exposure to S&P 500 VIX Short-Term Futures. The fund uses a modest amount of borrowed money to increase its exposure, which amplified both gains and losses and added borrowing costs. It tracks the S&P 500 VIX Short-Term Futures.
| Leverage | Modest borrowing | risk↓ |
| Fee | 0.85% per year | costs↓ |
| Currency | CAD-hedged | facts↓ |
| Wrapper | Futures-based | holdings↓ |
This fund references a single commodity, but its daily objective is leveraged to that reference: it is built to move a multiple of the commodity price each day, resets daily, and long-period results can differ materially from that multiple of the price move.
How this fund works
Returns come from futures contracts rather than ownership of the listed reference assets.
Percentages are gross notional exposure, not money invested. Contracts can control more than the fund's assets.
Source: fund provider disclosure.
The management fee was 0.85% a year, or about $85 for every $10,000 held. A futures-based fund also carries a contract-roll cost that is reflected in returns, not in this fee. Trading spreads are separate from this fee. This is the management fee as published by the provider; the total expense ratio can be slightly higher once fund operating costs are added.
How durable the fund is, and what moved its price.
| Assets | $54M· net assets |
| Listed | 2010· 15 years of history |
| Leverage / overlay | Modest leverage (borrowing) |
What moved the price
| Ticker | VOLX.TO |
| Exchange | TSX |
| Currency | CAD |
| FX strategy | CAD-hedged |
| Asset class | Commodities |
| Structure | Futures-based |
| Theme | Global / World |
| Geography | United States |
| Index tracked | S&P 500 VIX Short-Term Futures |
| Provider | BetaPro ETFs |
| Mgmt fee | 0.85% |
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Prices as of last close.
What Premium adds