I had the same thought then did some research. If you think it will spike short term (days or week) this might be an okay play but long term you get fucked. This one has reverse split multiple times to stop it from hitting zero so previous highs are misleading. It tracks vix futures by buying close to expiring options and is constantly rolling them over and constantly loosing value. If you buy for a year out you may get lucky and have it spike due to a nuke being dropped in Ukraine or us defaulting on debt but otherwise zero chance this is worth more in a year vs now even if vix stays elevated this will go up momentarily then slowly bleed back to zero. By design this ETN looses value long term regardless of what the vix does