VIX Short-Term Futures ETF, ETNs Fall Out of Favor Fast

Exchange-traded notes and funds tied to U.S. stock volatility are falling out of favor faster than volatility itself is dropping. Shares outstanding plunged 75% in three exchange-traded products based on the S&P 500 VIX Short-Term Futures Index from a high on Feb. 21 through Tuesday, according to data compiled by Bloomberg. The decline is calculated from an iPath ETN whose ticker is VXX, a ProShares ETF with the ticker UVXY and a VelocityShares ETN with the ticker TVIX. The VIX short-term index peaked March 18 and fell no more than 35% through Tuesday.