MIDZDirexion Daily Mid Cap Bear 3X Shares
MIDZ Fund Description
MIDZ provides geared inverse (-3x) exposure to a market-cap-weighted index of 400 midcap companies
MIDZ Factset Analytics Insight
MIDZ provides daily geared inverse (-3x) exposure to the S&P MidCap 400 Index. It’s a direct competitor to ProShares’ SMDD, which tracks the same index with the same geared inverse factor. MIDZ charges 95 bps, the same as SMDD. Unlike its ProShares counterpart, MIDZ only holds index swaps. The underlying index comprises 400 US midcap companies in a variety of sectors. As such, MIDZ is a highly leveraged bet against the US midcap space. At less than $10M in AUM, MIDZ is comparable to SMDD, but it nonetheless carries a high closure risk. Its median volume and spreads are similar to those of SMDD. Note: Due to daily compounding, it’s unlikely to achieve its stated exposure and returns for longer than a 1-day period.
MIDZ Charts And Performance
MIDZ Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of MIDZ. MIDZ is rated a N/A out of 5.