VIX Futures Prices: TLVIX seeks to deliver daily investment results that correspond to twice the inverse (-2x) of the daily performance of the S&P 500 VIX Short-Term Futures Index. Therefore, changes in the price of VIX futures contracts, specifically the front-month and second-month contracts, directly impact TLVIX.US.

Market Volatility Expectations: Higher expectations of near-term market volatility generally lead to increases in VIX futures prices, negatively affecting TLVIX, due to its inverse relationship. Conversely, decreasing volatility expectations usually decrease VIX futures prices, positively affecting TLVIX.

Index Calculation: The precise method used by the S&P 500 VIX Short-Term Futures Index to calculate its daily performance also affects TLVIX. Changes in the index methodology and the weighting scheme it uses for VIX futures can affect TLVIX's price.

Fund Management Costs: TLVIX.US has management fees and other operational expenses. These costs are factored into the fund's daily performance and will negatively affect its return.

Supply and Demand: Basic supply and demand for TLVIX.US shares can also affect its price. If there are more buyers than sellers, the price of TLVIX.US could increase, and vice versa.