U.S. stocks tumbled on Aug 26, following Fed’s aggressive stance on monetary policy. Jerome Powell said the Fed will likely need to keep interest rates high enough to slow the economy “for some time” in order to curb high inflation.

The S&P 500 lost 3.4%, its biggest drop since Jun 13, while the Dow Jones Industrial Average plunged 3%, its largest percentage drop since May 18. Meanwhile, the tech-heavy Nasdaq Composite Index tumbled 3.9% in its largest percentage drop since Jun 16. Although terrible trading in the stock world pushed the ETF space into deep red on the day, a few ETFs still saw strength (read: Summer Rally Ended? Inverse ETFs to Tap).

These include ProShares VIX Short-Term Futures ETF (VIXY Quick QuoteVIXY - Free Report) , AGFiQ US Market Neutral Anti-Beta Fund (BTAL Quick QuoteBTAL - Free Report) , Simplify Tail Risk Strategy ETF , Cambria Tail Risk ETF (TAIL Quick QuoteTAIL - Free Report) , and PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF (ZROZ Quick QuoteZROZ - Free Report) .

While tight monetary policy "for some time" will bring down inflation from its 40-year high, it means slower growth, a weaker job market and "some pain" for households and businesses. According to the CME FedWatch tool, nearly half of market participants expect the Fed funds rate to end the year above 3.7%, up from 40% a week ago. The Fed has raised its benchmark federal funds rate by 0.75 percentage point at each of its last two meetings to a range between 2.25% and 2.5%.

Additionally, the decline came as we head into the historically weak month. September has been the worst month for the S&P 500 since 1945, with the index advancing only 44% of the time, the least of any month, according to CFRA data. The S&P 500 has posted an average loss of 0.6% in September, the worst for any month. The decline is due to a seasonal phenomenon as investors are more prone to selling than buying when they return from their summer vacations, trading volume after Labor Day is mostly bearish, many mutual funds have fiscal years ending Sep 30, window-dressing is rampant, and investors generally sell stocks to pay tuition bills for their kids’ private schools and colleges.

Let’s dig into the detail of the above-mentioned ETFs:

ProShares VIX Short-Term Futures ETF (VIXY Quick QuoteVIXY - Free Report) – Up 10.1%

ProShares VIX Short-Term Futures ETF provides long exposure to the S&P 500 VIX Short-Term Futures Index, which measures the returns of a portfolio of monthly VIX futures contracts with a weighted average of one month to expiration (read: 4 Multi-Asset ETFs to Beat Volatility & Enjoy Solid Yields).

ProShares VIX Short-Term Futures ETF has amassed $475.8 million in AUM and charges 85 bps in fees per year. The fund trades in an average daily volume of around 7.4 million shares.

AGFiQ US Market Neutral Anti-Beta Fund (BTAL Quick QuoteBTAL - Free Report) – Up 2.5%

AGFiQ US Market Neutral Anti-Beta Fund has the potential to generate positive returns regardless of the direction of the stock market as long as low-beta stocks outperform high-beta stocks. It invests primarily in long positions in low-beta U.S. equities and short positions in high-beta U.S. equities on a dollar-neutral basis, within sectors.

AGFiQ US Market Neutral Anti-Beta Fund has AUM of $211.7 million and an expense ratio of 2.53%. It trades in an average daily volume of 347,000 shares.

Simplify Tail Risk Strategy ETF – Up 2.5%

Simplify Tail Risk Strategy ETF seeks to provide income and capital appreciation while protecting against significant downside risk to investors, with hedging diversified portfolios against severe equity market selloffs. The fund deploys advanced options strategies that are designed to handle multiple types of market dislocations.

Simplify Tail Risk Strategy ETF has amassed $73.9 million in its asset base and charges 50 bps in annual fees from investors. It trades in a volume of 78,000 shares a day on average.

Cambria Tail Risk ETF (TAIL Quick QuoteTAIL - Free Report) – Up 2.1%

Cambria Tail Risk ETF seeks to mitigate significant downside market risk as it invests in a portfolio of "out of the money" put options purchased on the U.S. stock market. The TAIL strategy offers the potential advantage of buying more puts when volatility is low and fewer puts when volatility is high. While a portion of the fund's assets will be invested in the basket of long put option premiums, the majority of fund assets will be invested in intermediate-term U.S. Treasuries.

Cambria Tail Risk ETF has amassed $453.3 million in its asset base and charges 59 bps in annual fees from investors. It trades in a volume of 380,000 shares a day on average (read: Forget Recession Fears With These ETFs).

PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF (ZROZ Quick QuoteZROZ - Free Report) – Up 1.5%

PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF offers exposure to the long-end of the yield curve. It follows the BofA Merrill Lynch Long Treasury Principal STRIPS Index and holds 24 securities in its basket. Both effective maturity and the effective duration of the fund are 27.17 years and 26.64 years, respectively.

PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF has a decent level of $490.2 million in AUM and an average daily volume of 152,000 shares. It charges 15 bps in annual fees and has a Zacks ETF Rank #5 (Strong Sell).