UVIX closed 35.00 on October 14 2026 against 36.72 on September 24 (-4.7%), after a window low of 32.84 on October 13 with the VIX near 15, and jumped 6.6% on the CPI sell-off. The hedge bled through a record-high market and paid on the first volatility day, which is the profile a hedge against the vol-expansion leg should have.