UWM

$47.36 -0.82% $-0.39
Dec 16, 2024 20:00 PM

UWM is an exchange-traded fund (ETF) that aims to provide twice the daily return of the S&P MidCap 400 Index. It uses leverage to achieve this goal, meaning that it seeks to deliver 200% of the daily performance of the underlying index. This makes UWM a leveraged ETF focused on mid-cap stocks.

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Asset Summary

Daily Performance Report for UWM ETF: Dec 17, 2024

Summary: The day started with UWM ETF opening at $47.32 and closing at $47.3. The ETF showed weakness throughout the day, with the highest price observed at $47.32 and the lowest at $47.3. The underlying asset had a trading range of $0.02 Overall, it was a negative trading day for UWM ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-0.02 or -0.04% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for UWM ETF was 542 units during Dec 17, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $47.32.

Highest Price: The highest price observed during the day was $47.32.

Lowest Price: The lowest price observed during the day was $47.3.

Closing Price: The day ended at $47.3.

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

4.38%

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

3 Month Trailing Return

12.03%

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

Period Max Drawdown

19.87%

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

Standard Deviation

40.91%

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

Sharpe Ratio

0.80

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

Calmar Ratio

1.64

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

UWM adjusts its holdings to reflect stock splits or changes in the S&P MidCap 400 Index. Due to its leveraged strategy, the fund also rebalances daily to maintain its target leverage ratio, which can impact its performance and tracking error.

As of the latest update, UWM has an expense ratio of approximately 0.93%. This fee covers the cost of managing the ETF and is higher than non-leveraged ETFs due to the complexities of managing leveraged positions.

UWM differs from other mid-cap ETFs in that it is a leveraged fund, aiming to deliver 200% of the daily performance of the S&P MidCap 400 Index. Other mid-cap ETFs, such as the iShares Russell Mid-Cap ETF (IWR) or the SPDR S&P MidCap 400 ETF Trust (MDY), provide direct exposure to mid-cap stocks without the use of leverage, and typically have lower expense ratios.

UWM distributes dividends on a quarterly basis. These dividends come from the income generated by the underlying mid-cap stocks and are paid to shareholders based on the number of shares they hold.

UWM is designed to provide 200% of the daily performance of the S&P MidCap 400 Index. This means that on any given trading day, the ETF aims to deliver twice the percentage change of the index. However, because UWM is leveraged, its long-term performance can diverge significantly from twice the performance of the index due to the effects of compounding and daily rebalancing.

UWM is managed by ProShares. The fund employs a leveraged investment strategy that involves using financial derivatives and debt to amplify the returns of the S&P MidCap 400 Index. The management team seeks to provide 200% of the daily return of the index, but this leverage can also amplify losses.

Yes, UWM can be held in retirement accounts such as IRAs or 401(k)s. However, due to its leveraged and volatile nature, it is generally recommended for short-term trading rather than long-term holding in retirement accounts.

Risks associated with investing in UWM include high volatility and the potential for significant losses due to its leveraged nature. The use of leverage can amplify both gains and losses, making UWM suitable primarily for short-term trading rather than long-term investing. Investors should be aware of the potential for significant fluctuations in value and the impact of daily rebalancing on performance.

Similar ETFs to UWM include the ProShares UltraShort MidCap400 (SMDD), which seeks to provide -200% of the daily performance of the S&P MidCap 400 Index, and the Direxion Daily Mid Cap Bull 2X Shares (MIDU), which also aims to provide 200% of the daily performance of the S&P MidCap 400 Index.

The historical performance of UWM reflects its leveraged objective to deliver twice the daily return of the S&P MidCap 400 Index. Due to the use of leverage, UWM’s performance may be more volatile and differ significantly from the performance of the index over longer periods. Investors should review historical performance with the understanding that past performance is not indicative of future results.

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