Leveraged ETF's ExplainedHVU is not the VIX... it is a leveraged ETF which carries a higher risk. HVU will decay over time. It's labelled a Short Term ETF for a reason.
HVU works the same as UVXY. UVXY's explanation is a little more in depth than HVU's below.
https://sixfigureinvesting.com/2015/03/how-does-uvxy-work/
https://www.etfsage.ca/etfs/HVU.php