DXD

$26.21 -0.87% $-0.23
Nov 20, 2024 20:00 PM

DXD is an exchange-traded fund (ETF) managed by ProShares. It seeks to provide twice the inverse (−2x) daily performance of the Dow Jones Industrial Average (DJIA). This means if the DJIA declines by 1% on a given day, DXD aims to increase by 2%, and vice versa.

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Asset Summary

Weekly Performance Report for DXD ETF: Week 47, 2024

Summary: The Weekly started with DXD ETF opening at $26.21 and closing at $26.2. The ETF showed weakness throughout the Weekly, with the highest price observed at $26.76 and the lowest at $26.07. The underlying asset had a trading range of $0.69 Overall, it was a negative trading Weekly for DXD ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-0.01 or -0.04% in the closing price from the opening to the closing price over the Weekly.

Volume Analysis: Trading volume for DXD ETF was 2,324,253 units during Week 47, indicating active market participation and investor interest.

Opening Price: The Weekly started at $26.21.

Highest Price: The highest price observed during the Weekly was $26.76.

Lowest Price: The lowest price observed during the Weekly was $26.07.

Closing Price: The Weekly ended at $26.2.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

1 Month Trailing Return

-1.91%

Represents the percentage change in asset value over the past month.

3 Month Trailing Return

-11.34%

Indicates the percentage change in asset value over the last three months.

Period Max Drawdown

27.90%

The highest percentage drop from the peak value to the lowest point during the observed period.

Standard Deviation

22.43%

Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.

Sharpe Ratio

-1.17

Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.

Calmar Ratio

-0.94

The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

DXD specifically targets twice the inverse daily performance of the DJIA. Other leveraged inverse ETFs may focus on different indices or leverage levels. For example, SDS seeks twice the inverse of the S&P 500 Index, while QID provides twice the inverse of the Nasdaq-100 Index.

DXD aims to provide twice the inverse of the DJIA's daily performance. Over one-day periods, it targets double the opposite movement of the DJIA. Due to daily rebalancing and the effects of compounding, performance over longer periods can differ significantly from twice the inverse of the DJIA's performance.

Key performance metrics for DXD include its net asset value (NAV), expense ratio, total return, and tracking error. NAV indicates the per-share value of the ETF, the expense ratio reflects management and operational costs, total return encompasses income and capital gains, and tracking error measures deviation from the fund’s target performance.

DXD is managed to achieve its goal of providing twice the inverse daily performance of the DJIA. The fund utilizes leverage by employing financial derivatives such as futures contracts, options, and swaps to amplify its inverse exposure. The ETF is rebalanced daily to maintain its targeted leverage ratio.

DXD adjusts its holdings and leverage daily to maintain its objective of providing twice the inverse daily performance of the DJIA. Changes in the index’s composition are reflected in the fund’s adjustments to maintain the targeted inverse exposure.

DXD typically distributes dividends on a quarterly basis. These dividends are derived from the income generated by the underlying securities and derivatives held by the ETF.

DXD has an expense ratio of approximately 0.95%. This fee covers the costs of managing the ETF, including trading costs and administrative expenses.

Similar ETFs to DXD include SH (ProShares Short S&P 500), which aims to provide inverse exposure to the S&P 500 Index, and QID (ProShares UltraShort QQQ), which seeks to provide twice the inverse exposure to the Nasdaq-100 Index.

Risks include high volatility and potential for significant losses if the DJIA rises. Due to its leveraged inverse nature, DXD can experience large swings in value, and its performance over periods longer than one day may not precisely mirror twice the inverse of the DJIA's performance.

Factors affecting DXD’s performance include changes in the DJIA, market conditions, and the effectiveness of the fund’s leveraged strategy. The daily rebalancing and effects of compounding can lead to performance deviations over longer periods.

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