ETFs Don't Delivery Volatility Protection of VIX, Says Creator

Those who invest in volatility-based ETFs are not receiving the same protection as those who invest in the VOLATILITY S&P 500 (INDEXCBOE:VIX) directly, claimed VIX inventor Robert Whaley at an EFT conference in New York. This came on the heels of William Speth of the Chicago Board Options Exchange, which manages the VIX, defending the product and its term structure at a Reuters HedgeWorld event in Chicago this week. People are not getting VIX “People want VIX but they aren’t getting it,” Whatley, now a professor at the Vanderbilt University Owen Graduate School of Management said Thursday at ETF.com’s Global Macro…