UVIX Overview

ETF Outflow Details: The Putnam BioRevolution ETF experienced the largest outflow, losing 50,000 units, which is a 40.0% decline in outstanding units compared to the previous week.

Market Performance: In morning trading, Thermo Fisher Scientific saw a slight decrease of about 0.3%, while Abbvie experienced a modest increase of approximately 0.9%.

Video Content: A video segment discusses significant ETF outflows, specifically mentioning UVIX and SYNB.

Author's Perspective: The views expressed in the article are those of the author and do not necessarily represent the opinions of Nasdaq, Inc.

Underperformance of Volatility ETFs: Volatility-linked ETFs, such as UVIX and UVXY, have significantly underperformed in 2025, with many down double digits as market stability has reduced investor anxiety, leading to a muted VIX index.

Structural Challenges: The structure of these ETFs, which rely on rolling VIX futures in a contango market, results in systematic losses, particularly for leveraged products, making them unsuitable for long-term holding in calm market conditions.

Market Performance: Last week, Wall Street experienced declines with the S&P 500 down 0.4%, Dow Jones down 1.3%, and Nasdaq down 0.6%, largely influenced by escalating tensions between Israel and Iran, while gold ETFs saw a rise of 3.6%.

Key Stock Movements: Oracle's stock surged 49% due to strong earnings and cloud momentum, while oil prices increased significantly following military actions in the Middle East, impacting energy stocks; Tesla shares rebounded 13.9% amid renewed government relations and upcoming product launches.

Market Volatility Increase: The VIX Index has surged to its highest level in 2025, reaching 24.69, due to rising concerns over President Trump's tariff plans and the potential for a trade war, leading to increased investor anxiety and market uncertainty.

Shift in Investor Behavior: Investors are moving towards safer assets, as evidenced by a significant influx into U.S. Treasuries while avoiding equities, indicating a preference for stability amid heightened market risks.

ETF Inflows: The FT Vest Nasdaq-100 Conservative Buffer ETF - October saw the largest increase in inflows, adding 450,000 units, which is a 39.1% rise in outstanding units.

Market Performance: Proshares Ultra Semiconductors, a major component of QCOC, experienced a decline of approximately 4.5% during morning trading.

Market Volatility: Wall Street experienced increased volatility, with the S&P VIX Index rising 12% to reach its highest level in nearly three weeks.

Fear and Sentiment Indicator: The VIX index hit a value of 22.78, indicating heightened fear and uncertainty among investors.