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Includes new analyst insights and classification data. Information contained within the fact sheet is not guaranteed to be timely or accurate. Here is a look at the 25 best and 25 worst ETFs from the past trading month. Traders can use this The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.
All rights reserved. ETF Prime Podcast. Category: Leveraged Equities. Last Updated: Nov 11, TZA Profile. Vitals Issuer Rafferty Asset Management. Brand Direxion. Analyst Report. Inverse Yes. Leveraged 3x. Asset Class Equity. Asset Class Size Micro-Cap. Asset Class Style Blend. Region General North America. Region Specific U. Historical Trading Data 1 Month Avg. Volume 10,, 3 Month Avg. Volume 10,, Dollar 1.
Concentration Analysis This section compares how balanced and deep this ETF is relative to its peers. TZA Valuation. FactSet Segment Average. TZA Dividend. View charts featuring ETF fund flow data. View charts that break down the influence that fund flows and price had on overall assets. Realtime Rating. Overall Rating. This section compares the cost efficiency of this ETF to its peers.
Environmental Scores. The expense ratio for TZA is 1. However, it is quite reasonable when compared to its peers. The expense ratio is the fee charged by the investment company every year to manage your fund. Also, known as annual fund operating expenses, it covers costs like legal cost, administration cost, advertising cost and the management cost incurred in mutual fund management. This fee is different from the sales fee and commission or the expenses incurred on the buying and selling of portfolio.
As is the norm with geared inverse ETFs, TZA is designed to provide its -3x exposure for 1 trading day, and, therefore, the fund is recommended for speculators and day traders who aim to track small-cap stocks and only plan to hold TZA for not more than one day. The Fund invests in financial instruments that ProShare Advisors believe should have similar daily performance characteristics as three times the inverse of the daily performance of the Index.
The index is a measure of small-cap U. Investors should monitor their holdings daily as owing to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return. A broad small-cap index, the Russell is not singularly concentrated towards any one sector or firm. Financials, industrials, tech, consumer cyclicals, and healthcare are all significant sectors in the index. As is the norm with the majority of geared inverse products, SRTY is designed to provide its -3x exposure for one trading day.
As such, investors holding it for more than a day run the risk of being exposed to the effects of compounding. Due to the compounding of daily returns, holding periods of greater than one day will cause the returns to drift away from the expected 3x inverse exposure over periods longer than a day.
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