2x Long VIX Futures ETF
target weight3.21%
directionLong
roleHedge
Nineteenth weight at 3.21%, down 2.1% - 
the alignment raised it 0.74 to 0.76 on 
a VIX at 17.20 and near 18 on Fed day, but the equity thesis's three-point decline slightly outweighs that. Hedge in the strict sense - insurance against the thesis resolving to its downside. The fund still carries two distinct downside expressions on this thesis: this hedge and the short 
iShares Russell 2000 ETF inverse-expression.
vs 1.1.4-0.00 —
Theses funding this position
Every thesis whose alignment contributed weight here; edge weight is the thesis own confidence.
- held security
2x Long VIX Futures ETF- holding direction
Long- holding role
Hedge- serves thesis
Equity melt-up versus building recession risk