US-listed · CBOE · FIF-eligible (above NZ$50K)
ProShares VIXY ProShares VIX Short-Term Futures ETF
Tracks the S&P 500 VIX Short-Term Futures Index — front-month VIX futures rolled monthly. Subject to severe contango decay; designed for tactical hedging only.
Updated Reviewed quarterly
VIXY suffers structural CONTANGO DECAY in addition to all leverage-decay considerations. VIX futures trade above spot VIX ~80% of the time; VIXY loses money on each monthly roll. ProShares has executed multiple reverse splits since launch — a $100 position in 2011 is worth ~$2-5 today after splits. Designed for daily-cycle hedging only. Long-term holding consistently loses money. Read our full volatility-ETF risk explainer at /learn/volatility-etfs-risk-nz/ before considering this fund.
About this fund
What is VIXY?
VIXY is the US-listed ticker for ProShares VIX Short-Term Futures ETF, issued by ProShares. Tracks the S&P 500 VIX Short-Term Futures Index — front-month VIX futures rolled monthly. Subject to severe contango decay; designed for tactical hedging only. TER is 0.85% per year.
VIXY does not distribute. Returns are reflected in unit price (accumulating / no distribution).
Platform availability
Where to buy VIXY 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 |
|---|---|---|---|---|
 Sharesies Sharesies | 1.9% per trade | 0.5% | NZ$0 | Beginners, fractional shares, mixing NZ + US ETFs |
 Hatch Hatch | 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) |
 Stake Stake | US$0 trades | 0.70% | NZ$0 | Frequent US-share traders who hate per-trade fees |
 Interactive Brokers Interactive 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 Brokers Tiger Brokers | US$1.99 per US trade | 0.50% | NZ$0 | NZ investors who want NZ + US + Asian markets in one account |
 Jarden Direct Jarden Direct | NZ$29.90 per NZX trade | ~0.40% | NZ$0 | Larger NZX trades and global market access through one NZ broker |
 ASB Securities ASB 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 VIXY taxed for NZ investors?
VIXY 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 VIXY
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 | 0.52% | 3.8% | Quarterly | PIE | VIXY vs FNZ |
| NZ20 | Kernel NZ 20 Kernel · NZX | 0.29% | 3.2% | Quarterly | PIE | VIXY vs NZ20 |
| TNZ | NZ Top 10 (TNZ) Smartshares · NZX | 0.60% | — | Quarterly | PIE | VIXY vs TNZ |
| MZY | NZ Mid Cap (MZY) Smartshares · NZX | 0.75% | — | Quarterly | PIE | VIXY vs MZY |
| KSC | Kernel NZ 20 (KSC) Kernel · NZX | 0.25% | — | Quarterly | PIE | VIXY vs KSC |
Distribution history
Last 12 distributions — VIXY
VIXY does not pay distributions. Returns are reflected in the unit price (accumulating). There is no distribution-payment history to display.
FAQ
Common questions about VIXY
What is the VIXY ETF? ⌄
VIXY is the ProShares VIX Short-Term Futures ETF — it tracks the S&P 500 VIX Short-Term Futures Index, holding rolling positions in 1-month and 2-month VIX futures. TER is 0.85%. It does not hold spot VIX (you can't — VIX is an index, not a tradeable asset). Used for daily-cycle volatility hedging or short-term tactical bets on rising volatility.
Why does VIXY lose money over time? ⌄
Contango decay. VIX futures usually trade above spot VIX (the curve is in contango ~80% of the time). To maintain exposure VIXY continuously rolls expiring near-month futures into more expensive next-month futures, losing money on each roll. Over a year of flat VIX in contango, VIXY typically loses 30-70%. Multiple reverse splits since 2011 launch — a $100 position at launch is worth ~$2-5 today after splits. See our volatility-ETF risk explainer.
Can NZ residents buy VIXY? ⌄
Yes. VIXY is available via Hatch, Stake, Sharesies (US market), and Interactive Brokers. Above NZ$50,000 cost basis FIF rules apply. Holding VIXY long-term means paying FDR floor (5% × MV × marginal rate) on a structural loser — among the worst tax-adjusted return profiles available to NZ retail investors.
What use case does VIXY fit? ⌄
Strictly intra-day or 1-2 day tactical positions during volatility-spike events (Fed announcements, geopolitical events, sovereign stress). Anyone holding VIXY for "permanent portfolio hedge" or "recession protection" is paying contango decay continuously while the protective payoff usually arrives too late or in too small a magnitude to offset the carry cost. ETFs.co.nz publishes VIXY reference data factually but does not recommend it for buy-and-hold use.
Where to buy VIXY from New Zealand
The platforms below all support VIXY. 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 Brokers Fees + platform details verified against each provider's published rate card. Always check the current schedule before transacting. Full platform comparison →
Sources for this VIXY data
Every TER, yield, and holdings figure on this page traces to one of the documents below. We do not pull live prices; the data is reviewed monthly against issuer fact sheets and exchange listings (last reviewed 2026-05-04).
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 VIXY / UVXY structurally lose money over multi-month holds.
UVXY — 1.5× VIX (sibling)
Same VIX-futures exposure with 1.5× daily leverage; decays even faster.
Leveraged ETFs — separate risk explainer
For leveraged equity products like TQQQ / SOXL / UPRO.
VOO — Vanguard S&P 500
Buy-and-hold-friendly equity exposure (the underlying VIX measures volatility on this index).
FIF tax explained
Why FIF + structural-loser = particularly poor after-tax outcomes.
