New York - For some investments, the sound of crashing stock prices and panic in the market is actually the sweetest melody.

These investments tie themselves to the VIX index, a measure that traders call the stock market’s “fear gauge,” and they’ve been in higher demand as markets have become bumpier. Investors poured more than $2 billion into volatility funds during the first half of the year, triple the amount they did 12 months earlier, according to Morningstar. But before joining the tide, it’s important to know that these kinds of funds aren’t for everyone, and they’re certainly not leave-it-alone, long-term holdings.

“Unfortunately, most of those are not well suited to retail traders,” says Randy Frederick, managing director of trading and derivatives at Charles Schwab. “I see a lot of people wasting their money buying volatility-related products to try to catch that next big spike in volatility.”

Frederick says many investors enter these kinds of funds with the wrong expectations, and the wrong idea about how to use them. For one, don’t expect a VIX fund to move just like the VIX. And don’t expect to be rewarded for buying one and patiently holding it.... Read More: VIN