- ISIN
- US06368J1016
- Issuer
- REX
- Inception Date
- Jun 22, 2022
- Region
- North America (U.S.)
- Category
- Inverse Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- MerQube MicroSectors U.S. Travel Index
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $5M
Share Price Chart
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Performance
FLYD Performance Chart
MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) is down 25.8% since the beginning of the year. FLYD is currently trading at $46 per share.
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Returns By Period
MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has returned -25.81% so far this year and -57.21% over the past 12 months.
MicroSectors Travel -3X Inverse Leveraged ETNs
- 1D
- 3.14%
- 1M
- -24.23%
- YTD
- -25.81%
- 6M
- -19.69%
- 1Y
- -57.21%
- 3Y*
- -55.32%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FLYD Monthly Returns History
Based on dividend-adjusted daily data since Jun 22, 2022, FLYD's average daily return is -0.26%, while the average monthly return is -5.41%.
Historically, 37% of months were positive and 63% were negative. The best month was Mar 2025 with a return of +47.0%, while the worst month was Jan 2023 at -50.2%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 5 months.
On a daily basis, FLYD closed higher 48% of trading days. The best single day was Apr 3, 2025 with a return of +26.9%, while the worst single day was Apr 9, 2025 at -44.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.59% | 0.89% | 19.00% | -21.88% | -17.40% | -12.61% | -25.81% | ||||||
| 2025 | -9.38% | -0.53% | 46.97% | -23.31% | -32.20% | -20.73% | -5.85% | -19.03% | 11.65% | 3.95% | -3.31% | -15.26% | -60.42% |
| 2024 | -3.23% | -22.73% | -10.87% | 26.87% | 4.51% | -12.01% | 19.60% | -5.81% | -23.39% | -18.55% | -26.86% | 14.75% | -54.13% |
| 2023 | -50.22% | -2.39% | 7.06% | 0.90% | -1.47% | -37.29% | -15.54% | 23.62% | 21.86% | 26.63% | -35.74% | -25.95% | -75.14% |
| 2022 | 4.44% | -36.48% | -10.74% | 27.79% | -40.48% | -17.20% | 43.09% | -46.63% |
Benchmark Metrics
MicroSectors Travel -3X Inverse Leveraged ETNs has an annualized alpha of 9.84%, beta of -3.98, and R2 of 0.60 versus S&P 500 Index. Calculated based on daily prices since June 22, 2022.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -453.33%), but participation in market rallies was also limited (-145.93%) - a profile typical of counter-cyclical assets.
- This ETF generated an annualized alpha of 9.84% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of -3.98 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 9.84%
- Beta
- -3.98
- R²
- 0.60
- Upside Capture
- -145.93%
- Downside Capture
- -453.33%
Expense Ratio
FLYD has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FLYD ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FLYD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.79 | ||
| Sortino ratioReturn per unit of downside risk | -3.72 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.37 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 2.78 | -3.79 |
| Martin ratioReturn relative to average drawdown | -1.69 | 12.44 | -14.12 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MicroSectors Travel -3X Inverse Leveraged ETNs. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MicroSectors Travel -3X Inverse Leveraged ETNs was 98.34%, occurring on Jun 18, 2026. The portfolio has not yet recovered.
The current MicroSectors Travel -3X Inverse Leveraged ETNs drawdown is 98.29%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -98.34%Jun 2026 | 3y 11mo | — | 3y 11moJul 2022 - now |
Bear market2022 | -20.21%Jun 2022 | 0s | 6d | 6dJun 2022 - Jun 2022 |
Bear market2022 | -0.75%Jun 2022 | 0s | 1d | 1dJun 2022 - Jun 2022 |
Drawdown Indicators
| FLYD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.34% | -56.78% | -41.56% |
Max Drawdown (1Y)Largest decline over 1 year | -57.02% | -9.10% | -47.92% |
Max Drawdown (3Y)Largest decline over 3 years | -94.22% | -18.90% | -75.32% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -98.29% | -1.80% | -96.49% |
Average DrawdownAverage peak-to-trough decline | -83.22% | -10.71% | -72.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.12% | 2.03% | +34.09% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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