List of Volatility ETFs
Explore a comprehensive List of Volatility ETFs to navigate market fluctuations, ranging from equity-based minimum volatility funds to complex VIX futures products. This guide helps investors identify the most liquid and cost-effective tools for hedging or tactical trading in the U.S. markets.
Navigating market turbulence requires a clear understanding of the List of Volatility ETFs currently available to retail and institutional investors. These financial instruments are broadly categorized into two groups: low-volatility equity funds designed for long-term stability and VIX-linked products intended for short-term hedging. While popular funds like USMV and SPLV focus on reducing downside risk in stock portfolios, VIX futures products like VXX and UVXY track the market's "fear gauge" directly. Understanding the distinction between these strategies is vital for managing portfolio risk effectively. Investors should pay close attention to expense ratios and tracking methods before allocating capital.
Key Takeaways
The List of Volatility ETFs includes minimum volatility, VIX futures, and leveraged inverse products.
VIX-linked ETFs are generally tactical tools; they suffer from roll decay and are rarely suitable for long-term investing.
Low-volatility ETFs hold actual stocks, whereas VIX ETFs track futures contracts which can diverge from the spot VIX index.
Investors can access minimum volatility strategies across international markets using specialized tickers like ACWV and EFAV.
Top List of Volatility ETFs by Market Cap (2026)
The following table highlights the most prominent volatility-related funds across low-volatility and VIX futures categories based on current market data.
| Rank | Ticker | Fund Name | Type | Strategy | Exp. Ratio | AUM (Est) | Risk Level |
|---|---|---|---|---|---|---|---|
| 1 | USMV | iShares MSCI USA Min Vol Factor ETF | Equity | Minimum Volatility | 0.15% | $25B+ | Low/Medium |
| 2 | SPLV | Invesco S&P 500 Low Volatility ETF | Equity | Low Volatility | 0.25% | $7B+ | Low/Medium |
| 3 | VIXY | ProShares VIX Short-Term Futures ETF | Futures | VIX Long | 0.85% | $150M+ | Extreme |
| 4 | VXX | iPath Series B S&P 500 VIX ST Futures | ETN | VIX Long | 0.89% | $300M+ | Extreme |
| 5 | UVXY | ProShares Ultra VIX Short-Term Futures | Leveraged | 2x VIX Long | 0.95% | $200M+ | Extreme |
| 6 | SVXY | ProShares Short VIX Short-Term Futures | Inverse | 0.5x Inverse VIX | 0.95% | $250M+ | High |
| 7 | FDLO | Fidelity Low Volatility Factor ETF | Equity | Low Volatility | 0.15% | $4B+ | Medium |
| 8 | ACWV | iShares MSCI Global Min Vol ETF | Global Equity | Global Min Vol | 0.20% | $3B+ | Medium |
| 9 | VXZ | iPath Series B S&P 500 VIX Mid-Term | ETN | VIX Mid-Term | 0.89% | $40M+ | High |
| 10 | EFAV | iShares MSCI EAFE Min Vol ETF | Intl Equity | EAFE Min Vol | 0.20% | $6B+ | Medium |
List of Volatility ETFs — Complete Company List
List of Volatility ETFs Listed on U.S. Exchanges
- Barclays ETN+ VEQTOR S&P 500 Linked ETN (VQT)
- Compass EMP US 500 Volatility Weighted Index ETF (CFA)
- Compass EMP US 500 Enhanced Volatility Weighted Index ETF (CFO)
- Compass EMP U.S. EQ Income 100 Enhanced Volatility Weighted Index ETF (CDC)
- Compass EMP US Discovery 500 Enhanced Volatility Weighted Fund (CSF)
- First Trust Capital Strength ETF (FTCS)
- First Trust CBOE VIX Tail Hedge Index ETF (VIXH)
- First Trust Horizon Managed Volatility Domestic ETF (HUSV)
- PowerShares S&P 500 Downside Hedged Portfolio (PHDG)
- QuantShares U.S. Market Neutral Anti-Beta Fund (BTAL)
- VelocityShares Tail Risk Hedged Large Cap ETF (TRSK)
- VelocityShares Volatility Hedged Large Cap ETF (SPXH)
Low/Minimum Volatility ETFs
- Fidelity Low Volatility Factor ETF (FDLO)
- Franklin Liberty U.S. Low Volatility ETF (FLLV)
- iShares Edge MSCI Min Vol USA Small-Cap ETF (SMMV)
- iShares MSCI USA Minimum Volatility ETF (USMV)
- Legg Mason Low Volatility High Dividend ETF (LVHD)
- PowerShares DWA Momentum & Low Volatility Rotation Portfolio (DWLV)
- PowerShares S&P 500 ex-Rate Sensitive Low Volatility Portfolio (XRLV)
- PowerShares S&P 500 Low Volatility Portfolio (SPLV)
- PowerShares S&P MidCap Low Volatility ETF (XMLV)
- PowerShares S&P SmallCap Low Volatility Portfolio (XSLV)
- SPDR Russell 1000 Low Volatility ETF (LGLV)
- SPDR Russell 1000 Low Volatility Focus ETF (ONEV)
- SPDR Russell 2000 Low Volatility ETF (SMLV)
VIX Futures
- iPath S&P 500 Dynamic VIX ETN (XVZ)
- iPath S&P 500 VIX Mid-Term Futures ETN (VXZ)
- iPath S&P 500 VIX Short Term Futures ETN (VXX)
- ProShares VIX Mid-Term Futures ETF (VIXM)
- ProShares VIX Short-Term Futures ETF (VIXY)
- VelocityShares VIX Medium Term ETN (VIIZ)
- VelocityShares VIX Short Term ETN (VIIX)
- VelocityShares VIX Tail Risk ETN (BSWN)
VIX Futures: Leveraged
- ProShares Ultra VIX Short-Term Futures ETF (UVXY)
- VelocityShares Daily 2x VIX Medium Term ETN (TVIZ)
- VelocityShares Daily 2x VIX Short Term ETN (TVIX)
VIX Futures: Short
- iPath Inverse S&P 500 VIX Short-Term Futures ETN (IVOP)
- iPath Inverse S&P 500 VIX Short-Term Futures ETN (XXV)
- ProShares Short VIX Short-Term Futures ETF (SVXY)
- VelocityShares Daily Inverse VIX Medium Term ETN (ZIV)
- VelocityShares Daily Inverse VIX Short Term ETN (XIV)
Volatility: Global
- Compass EMP Developed 500 Enhanced Volatility Weighted Index ETF (CIZ)
- iShares MSCI All Country World Minimum Volatility ETF (ACWV)
- iShares MSCI Asia ex Japan Minimum Volatility ETF (AXJV)
- iShares MSCI EAFE Minimum Volatility Index Fund (EFAV)
- iShares MSCI Emerging Markets Minimum Volatility ETF (EEMV)
- iShares MSCI Europe Minimum Volatility ETF (EUMV)
- iShares MSCI Japan Minimum Volatility ETF (JPMV)
- PowerShares S&P Emerging Markets Low Volatility Portfolio (EELV)
- PowerShares S&P International Developed Low Volatility Portfolio (IDLV)
Risks & Considerations
Contango and Roll Decay
VIX futures ETFs often lose value even if the VIX stays flat because they must constantly sell cheaper expiring contracts to buy more expensive future ones.
Leverage Erosion
Leveraged volatility products like UVXY are subject to daily rebalancing math, which can cause significant losses in volatile, non-trending markets.
Tracking Divergence
Volatility ETFs track futures, not the spot VIX index. The price of the ETF may not move in sync with the headline "VIX" number seen on news tickers.
Underperformance in Bull Markets
Minimum volatility equity ETFs often lag behind the broad market during strong rallies, as they typically hold defensive, slower-growing stocks.