Vxx is an exchange-traded note (etn) that utilizes a portfolio of near-term s&p 500 vix futures contracts to offer exposure to changes in implied volatility. Vxx notes can be bought or sold, just like. This article explains how vxx works, detailing its structure, volatility tracking through vix futures, trading strategies, risks, and hedging applications.

This index measures the returns of a portfolio of monthly vix futures contracts. The vxx is an exchange traded note (etn) that tracks the vix short-term futures. To be more specific, the vxx is a portfolio composed of the front two-month /vx (vix) futures that bear continuously.