About CREDIT SUISSE AG (Nassau Branch)
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This ETN was delisted effective July 12, 2020, and now trades over-the-counter on the pink sheets. As a result, shareholders should anticipate ultra-wide spreads, minimal trading volumes, and prices well above or below NAVs. VIIX is one of three volatility ETPs that offer short-term VIX futures exposure, but low assets make it less attractive. Two immediate caveats: 1) volatility ETPs deliver poor long-term exposure to the VIX index, and 2) volatility ETPs erased vast sums of investor capital over the past 12 months. Still, short-term VIX ETPs like VIIX generally make better tools for tactical exposure to the VIX than midterm products. (Short term means one month average term VIX futures.) They also did a better job than midterm ETPs at matching the VIX statistically over the past 12 months, but lost more money from greater contango in their futures positions. VIIX`s performance was indistinguishable from its two short-term peers, but its low AUM raises concerns about its viability. The ETN trades well, but institutions can do better elsewhere.