RE: RE: DAX Down 1.24% CAC 40 down 1.28% EUROPE HVU is linked with the VIX futures and not the spot VIX. Therfore the spot VIX can go a lot higher (up over 6% today) but HVU will lag because VIX 1 month futures are only up just over 2%. HVU tracks better in extreme market situations and we are not there yet. I still think we will see this aroud $10-12 for a little while longer.