FLYD vs. MYY
FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) and MYY (ProShares Short S&P Mid Cap400) are both Inverse Equities funds - FLYD tracks the MerQube MicroSectors U.S. Travel Index while MYY tracks the S&P Mid Cap 400 (-100%). Both are passively managed. Over the past 3 years, FLYD returned -52.04%/yr vs -7.56%/yr for MYY. Their 0.74 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
FLYD vs. MYY - Performance Comparison
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Returns By Period
In the year-to-date period, FLYD achieves a -29.08% return, which is significantly lower than MYY's -10.96% return.
FLYD
- 1D
- 2.07%
- 1M
- 4.87%
- 6M
- -35.29%
- YTD
- -29.08%
- 1Y
- -48.77%
- 3Y*
- -52.04%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -62.88%
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) |
|---|---|---|---|
| $95.69K | $124.77K | $139.75K | |
| $319.02K | $183.72K | $161.47K |
FLYD vs. MYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | -29.08% | -60.42% | -54.13% | -75.14% | -46.63% |
MYY ProShares Short S&P Mid Cap400 | -10.96% | -4.05% | -7.08% | -9.46% | -9.07% |
Correlation
The correlation between FLYD and MYY is 0.67, 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. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.74 |
The correlation between FLYD and MYY has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.
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Return for Risk
FLYD vs. MYY — Risk / Return Rank
FLYD
MYY
FLYD vs. MYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) 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.
| FLYD | MYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.86 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.77 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.51 | -1.35 | -0.16 |
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Drawdowns
FLYD vs. MYY - Drawdown Comparison
The maximum FLYD drawdown since its inception was -98.49%, roughly equal to the maximum MYY drawdown of -95.20%. Use the drawdown chart below to compare losses from any high point for FLYD and MYY.
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Drawdown Indicators
| FLYD | MYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.49% | -95.20% | -3.29% |
Max Drawdown (1Y)Largest decline over 1 year | -56.11% | -18.25% | -37.86% |
Max Drawdown (3Y)Largest decline over 3 years | -94.73% | -35.14% | -59.59% |
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 | -98.36% | -95.07% | -3.29% |
Average DrawdownAverage peak-to-trough decline | -83.63% | -72.31% | -11.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.18% | 10.38% | +19.80% |
Volatility
FLYD vs. MYY - Volatility Comparison
MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a higher volatility of 21.84% compared to ProShares Short S&P Mid Cap400 (MYY) at 3.36%. This indicates that FLYD'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
| FLYD | MYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.84% | 3.36% | +18.48% |
Volatility (6M)Calculated over the trailing 6-month period | 64.55% | 11.59% | +52.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.98% | 15.70% | +61.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.54% | 19.53% | +64.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.54% | 21.21% | +62.33% |
FLYD vs. MYY - Expense Ratio Comparison
Both FLYD and MYY have an expense ratio of 0.95%.
Dividends
FLYD vs. MYY - Dividend Comparison
FLYD 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 |
|---|---|---|---|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 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
FLYD and MYY have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYD has higher volatility (21.84%) compared to MYY (3.36%). In terms of maximum drawdown, FLYD dropped -98.49% vs MYY's -95.20%.
On 3-year performance, MYY leads with -7.56% vs -52.04% for FLYD. 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 -52.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLYD 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 FLYD.
FLYD tracks MerQube MicroSectors U.S. Travel Index, while MYY tracks S&P Mid Cap 400 (-100%). They also come from different issuers: REX and ProShares.
FLYD currently has the higher Sharpe Ratio (-0.59 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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