The ProShares Ultra VIX Short-Term Futures ETF, known as UVXY, offers investors exposure to the S&P 500 VIX Short-Term Futures Index. Managed by ProShare Capital Management, this ETF aims to amplify the daily performance of the index by 1.5 times through investments in derivatives and volatile large-cap stocks, primarily in the United States. Launched in 2011, UVXY is a tool for those looking to invest in market volatility.