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Asset Summary

Daily Performance Report for SDOW ETF: Nov 7, 2024

Summary: The day started with SDOW ETF opening at $11.84 and closing at $11.88. The ETF showed resilience throughout the day, with the highest price observed at $11.89 and the lowest at $11.84. The underlying asset had a trading range of $0.05 Overall, it was a positive trading day for SDOW ETF, reflecting investor optimism and market activity.

Change in Closing Price: There was a net increase of $0.04 or 0.34% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for SDOW ETF was 42,783 units during Nov 7, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $11.84.

Highest Price: The highest price observed during the day was $11.89.

Lowest Price: The lowest price observed during the day was $11.84.

Closing Price: The day ended at $11.88.

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.

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

SDOW specifically targets three times the inverse daily performance of the DJIA. Other leveraged inverse ETFs may focus on different indices or leverage levels. For instance, SQQQ provides three times the inverse of the Nasdaq-100 Index, while SH offers a single inverse of the S&P 500 Index.

Risks include high volatility and potential for significant losses if the DJIA rises. Due to its leveraged inverse nature, SDOW can experience large swings in value, and its performance over longer periods may not precisely reflect three times the inverse of the DJIA's performance due to compounding effects.

SDOW has an expense ratio of approximately 0.95%. This fee covers management costs and operational expenses associated with running the ETF.

Historical performance data for SDOW can be reviewed on financial platforms and includes past returns and NAV. It's important to evaluate the ETF’s performance with an understanding of its daily leveraged inverse exposure and compounding effects.

SDOW is managed to achieve its goal of delivering three times the inverse daily performance of the DJIA. The fund uses 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.

Factors influencing SDOW’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.

Similar ETFs to SDOW include SDS (ProShares UltraShort S&P 500), which seeks to provide twice the inverse daily performance of the S&P 500 Index, and QID (ProShares UltraShort QQQ), which aims for twice the inverse exposure to the Nasdaq-100 Index.

SDOW adjusts its holdings and leverage daily to achieve its goal of providing three times the inverse daily performance of the DJIA. Any changes in the index’s composition are reflected in the fund’s adjustments to maintain the targeted leverage exposure.

SDOW aims to provide three times the inverse of the DJIA's daily performance. On a daily basis, if the DJIA decreases by 1%, SDOW aims to increase by 3%. Due to daily rebalancing and the effects of compounding, performance over periods longer than one day may differ significantly from three times the inverse of the DJIA's performance.

Key performance metrics for SDOW 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 the cost of managing the fund, total return shows income and capital gains, and tracking error measures deviation from the fund’s target performance.

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