A companion product, $342 million ProShares Ultra VIX Short-Term Futures ETF, will aim to gain 1.5 percent, instead of 2 percent, when the index it tracks increases by 1 percent. ProShare Capital Management is taming two of its exchange - traded funds ( ETFs ) with short moves to the CBOE Index Index ( VIX ) after such funds fell by more than 50 % in one day during February 's market selloff . The firm is looking to reduce the time the ETFs are required to move in response to volatility fluctuations , minimising losses should there be an uptick in price growth .
ProShare Capital Management is taming two of its exchange - traded funds ( ETFs ) with short moves to the CBOE Index Index ( VIX ) after such funds fell by more than 50 % in one day during February 's market selloff . The firm is looking to reduce the time the ETFs are required to move in response to volatility fluctuations , minimising losses should there be an uptick in price growth .