How do IX Short-Term Futures ETF work?


Junior member
Hello all, first I apologise if this is not considered a stock or ETF (noobie here).

I am curious as to how these sort of investment works. I read the description but it is a bit difficult to grasp.

I am especially curious about ProShares Ultra Vix. I noticed the following trends and was wondering tha 'rationale' behind them. THANK YOU IN ADVANCE to this great community

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