US-listed · CBOE · FIF-eligible (above NZ$50K)
ProSharesUVXYProShares Ultra VIX Short-Term Futures ETF
Designed to deliver 1.5× the daily return of the S&P 500 VIX Short-Term Futures Index. Combines contango decay with leverage decay; among the most decay-prone ETFs available.
Updated Reviewed quarterly
UVXY combines contango decay (from rolling VIX futures) AND leverage decay (from daily 1.5× rebalance) — among the most decay-prone ETFs available. ProShares has executed multiple reverse splits since 2011 launch (cumulative ~1-for-2,500). A $100 position at launch is worth a few cents today. Designed strictly for tactical single-day directional bets on rising volatility. Holding for periods longer than 1-2 days compounds two structural decay mechanisms simultaneously. Read our full volatility-ETF risk explainer at /learn/volatility-etfs-risk-nz/ before considering this fund.
About this fund
What is UVXY?
UVXY is the US-listed ticker for ProShares Ultra VIX Short-Term Futures ETF, issued by ProShares. Designed to deliver 1.5× the daily return of the S&P 500 VIX Short-Term Futures Index. Combines contango decay with leverage decay; among the most decay-prone ETFs available. TER is 0.95% per year.
UVXY does not distribute.Returns are reflected in unit price (accumulating / no distribution).
Platform availability
Where to buy UVXY from New Zealand
Based on each platform's advertised market coverage and fee schedule. Verify with the platform before transacting — instrument coverage can change.
| Platform | Per-trade fee | FX | Min | Notes |
|---|---|---|---|---|
 SharesiesSharesies | 1.9% per trade | 0.5% | NZ$0 | Beginners, fractional shares, mixing NZ + US ETFs |
 HatchHatch | US$3 per trade (≤300 shares) | 0.5% | NZ$0 (US$1 to invest) | NZ investors who want US-only ETFs (SPY, VOO, QQQ, SCHD, JEPI) |
 StakeStake | US$0 trades | 0.70% | NZ$0 | Frequent US-share traders who hate per-trade fees |
 Interactive BrokersInteractive Brokers | From US$0.35 / trade (Tiered) or US$1 flat (Fixed) | ~0.002% (US$2 min) | US$0 | Larger portfolios, frequent traders, multi-market investors |
 Tiger BrokersTiger Brokers | US$2 flat per US trade (to 200 shares) | 0.50% | NZ$0 | NZ investors who want NZ + US + Asian markets in one account |
 Invest DirectInvest Direct | From NZ$29.90 per trade | Undisclosed margin on conversion | NZ$0 | US trading must be switched on by request, and covers a curated list of US securities — check this ticker is on it. |
 ASB SecuritiesASB Securities | NZ$30 per NZX trade | Bank rates (~1%) | NZ$0 (ASB customer) | Existing ASB customers wanting one login for banking + brokerage |
Showing 7 platforms that list this ETF. Full platform comparison: all 11 NZ brokers → · Full coverage matrix: availability matrix →
NZ tax treatment
How is UVXY taxed for NZ investors?
UVXY is US-domiciled. NZ investors apply Foreign Investment Fund rules once total overseas-share cost basis crosses the de-minimis threshold. Below it, only dividends are taxable.
The FIF de-minimis threshold is NZ$50,000(source) of overseas-share cost basis. Below it, FIF rules do not apply and only dividends are taxable.
Most NZ retail investors use Fair Dividend Rate (FDR): deemed income = 5% × opening market value × your marginal rate. Comparative Value (CV) can be lower in flat or down years.
FDR vs CV method → · PIE vs FIF comparison →
🧮 Model your own after-tax outcome
Mechanical NZ-tax calculator comparing PIE @ PIR vs FIF @ FDR vs FIF @ CV on your principal, assumed return, time horizon, PIR, and marginal rate. → Open the after-tax calculator
General information only — not personalised tax advice. Confirm your treatment with a registered NZ tax adviser before transacting.
Add up to 4 more tickers to compare TER · yield · distribution · NZ tax structure.
Similar ETFs
ETFs with similar focus to UVXY
Same asset class, issuer cousins, and exchange peers — ranked by closest match. Click any row to compare side-by-side in the multi-compare tool.
| Ticker | Name | TER | Yield | Distribution | NZ tax | Compare |
|---|---|---|---|---|---|---|
| FNZ | NZ Top 50 (FNZ) Smartshares · NZX | 0.50% | 3.2% | Semi-annual | PIE | UVXY vs FNZ |
| NZ20 | Kernel NZ 20 Kernel · Unlisted | 0.25% | — | Quarterly | PIE | UVXY vs NZ20 |
| TNZ | NZ Top 10 (TNZ) Smartshares · NZX | 0.60% | 1.9% | Semi-annual | PIE | UVXY vs TNZ |
| VTI | VTI Vanguard · NYSE Arca | 0.03% | 1.0% | Quarterly | FIF | UVXY vs VTI |
| QQQ | QQQ Invesco · NASDAQ | 0.18% | — | Quarterly | FIF | UVXY vs QQQ |
Distribution history
Last 12 distributions — UVXY
UVXY does not pay distributions. Returns are reflected in the unit price (accumulating). There is no distribution-payment history to display.
FAQ
Common questions about UVXY
What is the UVXY ETF?⌄
UVXY is the ProShares Ultra VIX Short-Term Futures ETF — designed to deliver 1.5× the daily return of the S&P 500 VIX Short-Term Futures Index. It combines VIX-futures exposure (subject to contango decay) with daily-reset leverage (subject to volatility decay). TER is 0.95%. Among the most decay-prone ETFs available; designed strictly for tactical daily-cycle trading.
UVXY vs VIXY — what's the difference?⌄
Both track VIX short-term futures. VIXY is unleveraged (1× exposure); UVXY is 1.5× daily leveraged. UVXY suffers BOTH contango decay (from rolling VIX futures) AND leverage decay (from daily rebalance). Combined decay is severe — UVXY has had multiple reverse splits since 2011 launch, with a cumulative split factor of approximately 1-for-2,500. A $100 position at launch is worth a few cents today.
Can NZ residents buy UVXY?⌄
Yes. UVXY is available via Hatch, Stake, Sharesies (US market), and Interactive Brokers. Above NZ$50,000 cost basis FIF rules apply. Holding UVXY long-term combines structural value erosion + leverage decay + FDR-floor tax (5% × MV × marginal rate regardless of fund performance). The combined after-tax return profile for NZ buy-and-hold investors is among the worst available.
What use case does UVXY fit?⌄
Even narrower than VIXY. UVXY is a single-day directional bet on rising volatility, used by sophisticated traders who can monitor positions intra-day. Holding UVXY for periods longer than 1-2 days exposes the position to compounded contango decay AND leverage decay simultaneously. ETFs.co.nz publishes UVXY reference data factually but strongly does not recommend it for any holding period longer than a single trading session.
Where to buy UVXY from New Zealand
The platforms below all support UVXY. Each link opens the platform's site directly — we don't take any payment for placement or for clicks.
Hatch
Sharesies
Interactive Brokers
Stake
Tiger BrokersFees + platform details verified against each provider's published rate card. Always check the current schedule before transacting.Full platform comparison →
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Sources for this UVXY data
The figures on this page come from the documents below. We do not pull live prices; the data is reviewed against issuer fact sheets and exchange listings (last reviewed 2026-07-05). Which figures have been checked against the issuer by machine, rather than by eye, is stated below — an unchecked figure is labelled as such rather than left ambiguous.
- ○Total expense ratioNot independently verified — check the issuer documents below before relying on it. We review unsourced figures by 2027-03-04; if no issuer publishes one by then, this figure is removed rather than left standing.
Issuer product page
proshares.com/our-etfs/leveraged-and-inverse/uvxy
Fact sheet (PDF)
proshares.com/globalassets/proshares/fact-sheet/prosharesfactsheetuvxy.pdf
External links open in a new tab. We do not earn commission on issuer product pages. See our methodology + disclosure.
Related ETFs and resources
Volatility ETFs — risk explainer (READ FIRST)
Why UVXY combines two structural decay mechanisms.
VIXY — 1× VIX short-term futures (sibling)
Unleveraged VIX-futures alternative; less decay but same contango drag.
Leveraged ETFs — separate risk explainer
For equity-leveraged products like TQQQ / SOXL / UPRO.
VOO — Vanguard S&P 500 (the underlying)
The S&P 500 — the underlying that VIX measures volatility on.
FIF tax explained
Why FIF + double-decay = the worst-case after-tax profile.
