ProShares - Short MidCap400
CThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$15.85+0.04 (+0.23%)
- 2.22%
- $3M
- −11.1%
- 3.46%
- 0M sh
- $15.82
- low $14.74high $18.77
The ETF.net MYY Grade
C
Score 40 out of 100
- 31 of 54
Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 42
- This cap took
- −2
- Published Score
- 40
Cost
The fund’s net expense ratio, ranked against its category.D32 out of 100Rank 37 of 54Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B69 out of 100Rank 10 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D36 out of 100Rank 37 of 54Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C44 out of 100Rank 32 of 54
Our read on MYY
CThe plain-vanilla short on America's mid caps. MYY aims for the inverse (-1x) of the S&P MidCap 400's daily move, with no leverage multiplier bolted on, and it has been running since 2006.
MYY seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the S&P MidCap 400.
Why people hold it
- Straight -1x, no multiplier: a day's index move maps across one-for-one, without the amplified compounding that 2x and 3x bear funds carry.
- The cheapest of ProShares' three MidCap 400 bear funds at 2.22% a year, versus 3.28% for SMDD and 6.82% for MZZ.
- Trading since 2006, so its behavior through the financial crisis and every drawdown since sits in the public record rather than in a backtest.
- Aimed at the S&P MidCap 400 rather than the usual large-cap or Nasdaq 100 targets, a corner of the market with fewer inverse tools pointed at it.
Worth knowing
- The objective resets every day. Hold longer and results depend on the index's path, not just its endpoint, and choppy markets are where that bites hardest.
- At 2.22% a year, the fee sits well above the typical leveraged or inverse fund, and it keeps working against any position held past a trading session.
- A small fund that trades thinly, so bid-ask spreads can add to the cost of getting in and out beyond the stated expense ratio.
MYY Holdings
- Stocks
- 1
- 100%
- Net Other Assets (Liabilities)
MYY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
MYY$8,889
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | MYY |
|---|---|
| Year to date | −7.7% |
| 1 month | +1.9% |
| 3 months | +4.3% |
| 1 year | −11.1% |
| 3 years | −9.9% |
| 5 years | −5.2% |
| 10 years | −10.5% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | MYY |
|---|---|---|
| 2026 YTD | −7.7% | |
| 2025 | −4.1% | |
| 2024 | −7.1% | |
| 2023 | −9.5% | |
| 2022 | +10.2% | |
| 2021 | −23.1% | |
| 2020 | −25.9% |
MYY in the news
MYY Dividends
- 3.46%
- $0.55
- $0.12 per share
- Quarterly
Distribution history
MYY Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 15.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.82
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −38.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.99
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MYY Cost
2.22%
MYY2.22%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
35 of the 53 Leveraged Inverse (2x & Other) funds charge less.
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- CSBBProShares - Short SmallCap600Expense ratio 2.28%1 year return −14.9%
- CYXIProShares - Short FTSE China 50Expense ratio 2.65%1 year return +12.9%