Q: How the vix protection working with this fund?
5i Research Answer:
The fund made money in 2018 when markets dropped, but did lost 7% in 2022 when market dropped more. It's up 1.4% YTD which is pretty impressive considering the market. The commentary does not go into a lot of detail on the defensive strategy. 90% of its holdings are different than the index, and it is likely an ETF such as VXX is utilized to profit when volatility surges. It does use options and futures but does not go into detail on these. But its chart on its website indicates it has been successful in limiting damage to the fund on the really bad market days.