VelocityShares Daily 2x VIX Short-Term ETN
TVIX
NASDAQ Global Market- -
USD
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- IPO Date
- Nov 29, 2010
- Similar Companies
- Business
- VelocityShares Daily 2x VIX Short-Term ETN (TVIX) is an exchange-traded note that provides 2x leveraged exposure to the daily performance of the S&P 500 VIX Short-Term Futures Index ER, which tracks a portfolio of short-term futures contracts on the CBOE Volatility Index. Issued by Credit Suisse AG acting through its Nassau Branch, the ETN delivers returns net of a 1.65% annual fee and is designed for sophisticated traders seeking amplified short-term volatility bets rather than long-term holding due to futures roll decay and leverage compounding effects; it matures on December 4, 2030. TVIX operates principally in U.S. equity markets, targeting institutional high-frequency traders, brokers, and volatility strategists with its unsecured senior debt structure backed solely by the issuer's credit. Launched on November 29, 2010, under the VelocityShares brand—originally managed from Darien, Connecticut, with VS Holdings Inc. as parent prior to its 2014 acquisition by Janus Capital Group—the ETN lists on NASDAQ (now trading over-the-counter as TVIXF post-delisting). Credit Suisse, headquartered in Zurich, Switzerland and founded in 1856, serves as issuer across its global investment banking and asset management segments. Key operational features include periodic reverse splits to maintain share price viability, such as 1-for-10 in June 2018 and 1-for-25 in August 2016, alongside routine 10-for-1 forward splits during price declines. In June 2020, Credit Suisse announced the delisting of TVIX alongside eight other VelocityShares ETNs totaling nearly $3 billion in assets as part of a product lineup rationalization, shifting it to OTC trading while holders retain maturity redemption rights. Following UBS Group's 2023 acquisition of Credit Suisse, UBS assumed select legacy ETNs under its ETRACS brand with coupon declarations in 2025, though TVIX remains a discontinued Credit Suisse obligation amid ongoing volatility product wind-downs.