ERYDirexion Daily Energy Bear 3X Shares
ERY Fund Description
ERY provides 3x inverse exposure to a market-cap-weighted index of US large-cap companies in the energy industry.
ERY Factset Analytics Insight
ERY provides daily 3x exposure to the S&P Energy Select Sector Index—a constituency of energy companies derived from the S&P 500. Remember that this is an extremely concentrated sector, and therefore ERY is specifically a heavy bet on segment giants Exxon and Chevron, who account for roughly a third of the underlying index. Although ERY has an incredibly high expense ratio, consider that the fund is designed to be a short-term trading vehicle. ERY rebalances daily and, as a result, compounding and path dependency lead to a lack of predictability in the fund's long-term returns. Still, ERY has amassed a healthy asset base, with several million dollars trading hands in the fund on a given day. Large investors can get a fair deal when working with liquidity providers, while smaller investors can expect reasonably small bid/ask spreads.
ERY CHARTS AND PERFORMANCE
ERY Portfolio Data
ERY Index Data
ERY Fund Structure
ERY Tax Exposures
ERY Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of ERY. ERY is rated a 5 out of 5.