CARD vs. MYY
CARD (Max Auto Industry -3X Inverse Leveraged ETN) and MYY (ProShares Short S&P Mid Cap400) are both Inverse Equities funds - CARD tracks the Prime Auto Industry Index - Benchmark TR Net (--300%) while MYY tracks the S&P Mid Cap 400 (-100%). Both are passively managed. Over the past 3 years, CARD returned -47.16%/yr vs -7.56%/yr for MYY. Their 0.72 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
CARD vs. MYY - Performance Comparison
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Returns By Period
In the year-to-date period, CARD achieves a -8.92% return, which is significantly higher than MYY's -10.96% return.
CARD
- 1D
- 3.59%
- 1M
- 1.66%
- 6M
- -6.13%
- YTD
- -8.92%
- 1Y
- -38.90%
- 3Y*
- -47.16%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -52.24%
MYY
- 1D
- 0.02%
- 1M
- 1.28%
- 6M
- -7.74%
- YTD
- -10.96%
- 1Y
- -15.28%
- 3Y*
- -7.56%
- 5Y*
- -5.91%
- 10Y*
- -10.81%
- ALL TIME*
- -11.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $47.33K | $47.63K | $45.90K | |
| $319.02K | $183.72K | $161.47K |
CARD vs. MYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CARD Max Auto Industry -3X Inverse Leveraged ETN | -8.92% | -60.21% | -58.19% | -32.77% |
MYY ProShares Short S&P Mid Cap400 | -10.96% | -4.05% | -7.08% | -5.33% |
Correlation
The correlation between CARD and MYY is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023 | 0.72 |
The correlation between CARD and MYY has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.
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Return for Risk
CARD vs. MYY — Risk / Return Rank
CARD
MYY
CARD vs. MYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry -3X Inverse Leveraged ETN (CARD) and ProShares Short S&P Mid Cap400 (MYY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| CARD | MYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.86 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.77 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.23 | -1.35 | +0.12 |
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Drawdowns
CARD vs. MYY - Drawdown Comparison
The maximum CARD drawdown since its inception was -93.74%, roughly equal to the maximum MYY drawdown of -95.20%. Use the drawdown chart below to compare losses from any high point for CARD and MYY.
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Drawdown Indicators
| CARD | MYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.74% | -95.20% | +1.46% |
Max Drawdown (1Y)Largest decline over 1 year | -44.14% | -18.25% | -25.89% |
Max Drawdown (3Y)Largest decline over 3 years | -93.74% | -35.14% | -58.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.79% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.93% | — |
Current DrawdownCurrent decline from peak | -93.16% | -95.07% | +1.91% |
Average DrawdownAverage peak-to-trough decline | -69.56% | -72.31% | +2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.16% | 10.38% | +18.78% |
Volatility
CARD vs. MYY - Volatility Comparison
Max Auto Industry -3X Inverse Leveraged ETN (CARD) has a higher volatility of 23.32% compared to ProShares Short S&P Mid Cap400 (MYY) at 3.36%. This indicates that CARD's price experiences larger fluctuations and is considered to be riskier than MYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CARD | MYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.32% | 3.36% | +19.96% |
Volatility (6M)Calculated over the trailing 6-month period | 54.55% | 11.59% | +42.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.06% | 15.70% | +56.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.51% | 19.53% | +60.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.51% | 21.21% | +59.30% |
CARD vs. MYY - Expense Ratio Comparison
Both CARD and MYY have an expense ratio of 0.95%.
Dividends
CARD vs. MYY - Dividend Comparison
CARD has not paid dividends to shareholders, while MYY's dividend yield for the trailing twelve months is around 4.28%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CARD Max Auto Industry -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MYY ProShares Short S&P Mid Cap400 | 4.28% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% |
Frequently Asked Questions
CARD and MYY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARD has higher volatility (23.32%) compared to MYY (3.36%). In terms of maximum drawdown, CARD dropped -93.74% vs MYY's -95.20%.
On 3-year performance, MYY leads with -7.56% vs -47.16% for CARD. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MYY has performed better with a -7.56% return vs -47.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CARD and MYY have the same expense ratio: 0.95% per year.
MYY has the higher dividend yield at 4.28%, compared with 0.00% for CARD.
CARD tracks Prime Auto Industry Index - Benchmark TR Net (--300%), while MYY tracks S&P Mid Cap 400 (-100%). They also come from different issuers: Max and ProShares.
CARD currently has the higher Sharpe Ratio (-0.50 vs -0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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