MSFD vs. MYY
MSFD (Direxion Daily MSFT Bear 1X Shares) and MYY (ProShares Short S&P Mid Cap400) are both Inverse Equities funds - MSFD tracks the Microsoft Corporation (-100%) while MYY tracks the S&P Mid Cap 400 (-100%). Both are passively managed. Over the past 3 years, MSFD returned -10.70%/yr vs -7.56%/yr for MYY. Their 0.37 correlation means their historical movements had little consistent relationship. MSFD charges 1.06%/yr vs 0.95%/yr for MYY.
Performance
MSFD vs. MYY - Performance Comparison
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Returns By Period
In the year-to-date period, MSFD achieves a -1.78% return, which is significantly higher than MYY's -10.96% return.
MSFD
- 1D
- -2.88%
- 1M
- -18.05%
- 6M
- -11.78%
- YTD
- -1.78%
- 1Y
- 7.40%
- 3Y*
- -10.70%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -15.36%
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) |
|---|---|---|---|
| $21.45M | $15.41M | $22.03M | |
| $319.02K | $183.72K | $161.47K |
MSFD vs. MYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | -1.78% | -13.36% | -7.86% | -35.90% | 3.88% |
MYY ProShares Short S&P Mid Cap400 | -10.96% | -4.05% | -7.08% | -9.46% | -3.35% |
Correlation
The correlation between MSFD and MYY is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | 0.37 |
Over the past year, the correlation between MSFD and MYY has dropped to 0.13 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.
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Return for Risk
MSFD vs. MYY — Risk / Return Rank
MSFD
MYY
MSFD vs. MYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bear 1X Shares (MSFD) 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.
| MSFD | MYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.86 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | -0.77 | +1.12 |
| Martin ratioReturn relative to average drawdown | 1.20 | -1.35 | +2.55 |
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Drawdowns
MSFD vs. MYY - Drawdown Comparison
The maximum MSFD drawdown since its inception was -59.90%, smaller than the maximum MYY drawdown of -95.20%. Use the drawdown chart below to compare losses from any high point for MSFD and MYY.
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Drawdown Indicators
| MSFD | MYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.90% | -95.20% | +35.30% |
Max Drawdown (1Y)Largest decline over 1 year | -26.54% | -18.25% | -8.29% |
Max Drawdown (3Y)Largest decline over 3 years | -40.50% | -35.14% | -5.36% |
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 | -55.70% | -95.07% | +39.37% |
Average DrawdownAverage peak-to-trough decline | -41.72% | -72.31% | +30.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.87% | 10.38% | -2.51% |
Volatility
MSFD vs. MYY - Volatility Comparison
Direxion Daily MSFT Bear 1X Shares (MSFD) has a higher volatility of 18.10% compared to ProShares Short S&P Mid Cap400 (MYY) at 3.36%. This indicates that MSFD'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
| MSFD | MYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.10% | 3.36% | +14.74% |
Volatility (6M)Calculated over the trailing 6-month period | 27.83% | 11.59% | +16.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.03% | 15.70% | +16.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.55% | 19.53% | +8.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.55% | 21.21% | +6.34% |
MSFD vs. MYY - Expense Ratio Comparison
MSFD has a 1.06% expense ratio, which is higher than MYY's 0.95% expense ratio.
Dividends
MSFD vs. MYY - Dividend Comparison
MSFD's dividend yield for the trailing twelve months is around 4.02%, less than MYY's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | 4.02% | 3.33% | 4.46% | 4.43% | 0.74% | 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
MSFD and MYY have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFD has higher volatility (18.10%) compared to MYY (3.36%). In terms of maximum drawdown, MSFD dropped -59.90% vs MYY's -95.20%.
On 3-year performance, MYY leads with -7.56% vs -10.70% for MSFD. On fees, MYY is cheaper at 0.95% per year. 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 -10.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MYY is cheaper with a 0.95% expense ratio, compared with 1.06% for MSFD.
MYY has the higher dividend yield at 4.28%, compared with 4.02% for MSFD.
MSFD tracks Microsoft Corporation (-100%), while MYY tracks S&P Mid Cap 400 (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for MSFD and 0.95% for MYY.
MSFD currently has the higher Sharpe Ratio (0.30 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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