Michael Iachini CFA®, CFP®, Managing Director, Head of Manager Research for Charles Schwab Investment Advisory, Inc. Recent articles VIX ETFs: The Facts and Risks August 23, 2021 Investors are fascinated by the VIX Index due to its tendency to spike during market turmoil. VIX ETFs exist but they track VIX index futures, instead of the index directly. Find out why this can be an issue.