VYLD ETN — Inverse VIX Short-Term Futures ETNs due March 22, 2045

Inverse VIX Short-Term Futures ETNs due March 22, 2045 (VYLD)

Updated October 16, 2026.

VYLD is an ETN. its expense ratio is 0.85%. Total return is 22.6% over the past 1.6 years, 15.0 points behind SPY at 37.6%.

This exchange-traded note tracks an inverse strategy on short-term VIX futures, designed to move opposite to volatility spikes in equity markets. It carries an expense ratio of 0.85% and does not make regular distributions. The security appeals to traders and sophisticated investors seeking to hedge against or profit from declines in market volatility, though it involves significant complexity and structural risks inherent to leveraged derivatives strategies.

VYLD performance versus SPY

Price and return data through 2026-10-16.

Total return is 22.6% over the past 1.6 years, 15.0 points behind SPY at 37.6%. Over the past year its total return — price change plus distributions reinvested — is 18.4%. Its deepest 1-year drawdown was 8.9%.

VYLD key facts

Issuer

JPMorgan

Asset type

ETN

Asset class

Alternatives

Expense ratio

0.85%

Distribution frequency

None

Last close

$30.80 (as of 2026-10-16)

AUM

$3,856,665

Average volume

3454.0

Beta

0.7799

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: JPMorgan; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

VYLD risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.9%.

Who may consider VYLD — and who may not

It is a weaker fit for investors who need monthly cash flow (VYLD does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on VYLD

• All tickers starting with V

Tagged: Short, Futures, VIX.

Frequently asked questions

More securities from JPMorgan.