周三盘中，1.5倍做多恐慌指数短期期货ETF（UVXY）大跌5.02%，引发市场关注。这一跌幅与市场恐慌指标VIX指数的走低直接相关。
据报道，被称为"恐慌指标"的VIX指数当日下跌0.4点或2.7%，报16.1点。VIX指数的下跌表明市场对未来30天内标普500指数波动性的预期降低，这直接影响了UVXY的表现。作为一个1.5倍杠杆的ETF，UVXY旨在跟踪短期VIX期货的表现，因此对VIX指数的变动更为敏感。
从更长期的角度来看，当前VIX指数处于相对低位。历史数据显示，2020年新冠疫情期间，VIX曾飙升至85.5的高位，而2025年早些时候也曾因特朗普总统宣布"对等关税"而触及60.1的高点。相比之下，现在16.1的水平意味着市场预期未来30天股市每日波动率仅为1.01%左右，反映出投资者对市场的担忧情绪明显缓解。这种低波动性环境不利于UVXY等波动性相关产品的表现，导致其价格下跌。
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