XIV 180%+ across 2017 has yielded a nice new year bonus for the taxman from me this year.
As you may recall I predominately use leverage nowadays and treat xiv as a 5x long stock (for 'bonds' I use a stock/gold barbell). Tends to track the market, but in a more volatile manner (zig-zags around it). Start of 2016 saw a value indicator zag and good gains. Start of 2017 and they were pretty much aligned. More recently however there's a considerable zig lead (absence of apparent value/overbought). Indicative that xiv might see a poor 2018 year outcome (and potentially the broader stock market base with it).