REX Shares is launching two new VIX exchange-traded products on Tuesday in what is likely to be the most important VIX ETP launch in several years.

The quantity of ETFs and ETNs on Deathwatch jumped by 23 this month. The net increase pushes the membership count to a 35-month high of 366, consisting of 266 ETFs and 100 ETNs.

In a woe-begotten backdrop, investors could look into volatility products that have proven themselves as short-time winners in turbulent times. They can use these products for hedging purpose to ensure safety when the stock market starts plunging.

VXUP is a brand-new product that looks to track the spot price volatility of the S&P 500 Index, and its underlying index is the CBOE Volatility Index.