XNV - S&P/ASX 200 Inverse Daily - what is it?

[So_Cynical]

A work colleague asked me about this index and i had to tell him i had no idea, a quick Google reviled that is it a leveraged (x2) sort of reverse ASX200 index...as in when the ASX200 falls/goes down the XNV goes up x 2.

https://www.asxonline.com/intradoc-...ation/documents/communications/asx_026119.pdf

What's the purpose of this index and how do i trade it? it doesn't seem to be futures related?

 

[sinner]

A work colleague asked me about this index and i had to tell him i had no idea, a quick Google reviled that is it a leveraged (x2) sort of reverse ASX200 index...as in when the ASX200 falls/goes down the XNV goes up x 2.

https://www.asxonline.com/intradoc-...ation/documents/communications/asx_026119.pdf

What's the purpose of this index and how do i trade it? it doesn't seem to be futures related?

It's a benchmark index, so that fund managers who want to run a 2x levered XJO ETFs and mutual funds have something to prove they are doing their jobs correctly.

AFAIK such a fund doesn't exist yet (someone correct me if I'm wrong) but maybe soon it will...lot's of new ETFs recently.