The dreadful performance of the bizarre TVIX ETF: -70% in 3 months

Leveraged ETFs are something to stay away from for any period longer than a few hours. We commented a couple of months ago on the launch of yet another bizarre version, the leveraged VIX.

Please take a look at the TVIX perfiormance since inception:

The performance since inception, December 2010 (!): -70%. Wow.

SEC : "The ETNs are riskier than securities that have intermediate or long-term investment objectives, and may not be suitable for investors who plan to hold them for longer than one day.