iPath Series B S&P 500 VIX Short-Term Futures ETN (VXXD)

Overview

The ETN provides a unique financial product designed for investors looking to gain exposure to volatility. It is structured around futures contracts on the VIX index, which is known as the CBOE Volatility Index®. The VIX index itself measures the market's expectation of 30-day volatility based on options prices of the S&P 500 index. It's important to note that the ETN doesn't offer direct exposure to the VIX index or its spot level. Instead, it focuses on futures contracts of specified maturities related to the VIX, aiming to track the performance of these contracts.

Products and Services

• Exposure to VIX Futures Contracts

  This product offers investors a pathway to gain exposure to the futures market of the VIX index without having to directly engage in the complexities of futures trading. Through the purchase of the ETN, investors can potentially benefit from the movements in the prices of VIX futures contracts of specific maturities. This might be particularly appealing during periods of heightened market volatility when the VIX index tends to rise.

• Futures Contracts of Specified Maturities

  The ETN is designed to provide exposure to one or more maturities of futures contracts on the VIX. This enables investors to have a more targeted approach in their investment strategy regarding volatility. By focusing on specific maturities, investors can tailor their exposure based on their volatility outlook and investment horizon, whether they are looking for short-term opportunities or have a longer-term view on market volatility.