Were the other products ETNs? For an ETF like SVXY, you are buying ownership of the underlying derivatives contracts. For an ETN like XIV, there is no underly

Were the other products ETNs? For an ETF like SVXY, you are buying ownership of the underlying derivatives contracts. For an ETN like XIV, there is no underlying instrument, and you are buying exactly* the index value (which is why I bought XIV after the close that night, and it did not turn out well). *) Subject to counterparty risk