Seeing that many people ask questions like vxx and uvxy that...

Seeing that many people ask questions like vxx and uvxy that the etp multiples have a smaller increase than the vix index, let me talk a little bit about my understanding.

This is because vix futures are now in a premium state. In the early stage of vix startup, those ETPs have to sell the current month futures (relatively cheap) and then buy the next month futures (relatively expensive), and there is a certain discount. That is, the headwind effect. $CBOE Volatility S&P 500 Index(.VIX.US)$ $iPath Series B S&P 500 VIX Short-Term Futures ETN(VXX.US)$ $ProShares Ultra VIX Short-Term Futures ETF(UVXY.US)$ $VIX Index Futures(MAY4)(VXmain.US)$