MYY vs. FLYD
MYY (ProShares Short S&P Mid Cap400) and FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) are both Inverse Equities funds - MYY tracks the S&P Mid Cap 400 (-100%) while FLYD tracks the MerQube MicroSectors U.S. Travel Index. Both are passively managed. Over the past 3 years, MYY returned -9.90%/yr vs -55.26%/yr for FLYD. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
MYY vs. FLYD - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with MYY having a -11.13% return and FLYD slightly lower at -11.20%.
MYY
- 1D
- 0.02%
- 1M
- -3.52%
- YTD
- -11.13%
- 6M
- -11.03%
- 1Y
- -16.67%
- 3Y*
- -9.90%
- 5Y*
- -5.92%
- 10Y*
- -11.12%
FLYD
- 1D
- 3.25%
- 1M
- -18.38%
- YTD
- -11.20%
- 6M
- -19.27%
- 1Y
- -48.13%
- 3Y*
- -55.26%
- 5Y*
- —
- 10Y*
- —
MYY vs. FLYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.13% | -4.05% | -7.08% | -9.46% | -9.26% |
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | -11.20% | -60.42% | -54.13% | -75.14% | -46.23% |
Correlation
The correlation between MYY and FLYD is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2022 | 0.75 |
The correlation between MYY and FLYD has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.
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Return for Risk
MYY vs. FLYD — Risk / Return Rank
MYY
FLYD
MYY vs. FLYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). 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.
| MYY | FLYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.92 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.88 | -0.07 |
| Martin ratioReturn relative to average drawdown | -1.75 | -1.30 | -0.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MYY | FLYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | -0.65 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.53 | -0.75 | +0.22 |
Drawdowns
MYY vs. FLYD - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.08%, roughly equal to the maximum FLYD drawdown of -98.11%. Use the drawdown chart below to compare losses from any high point for MYY and FLYD.
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Drawdown Indicators
| MYY | FLYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.08% | -98.11% | +3.03% |
Max Drawdown (1Y)Largest decline over 1 year | -17.58% | -54.89% | +37.31% |
Max Drawdown (3Y)Largest decline over 3 years | -33.48% | -93.41% | +59.93% |
Max Drawdown (5Y)Largest decline over 5 years | -36.20% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -71.22% | — | — |
Current DrawdownCurrent decline from peak | -95.07% | -97.95% | +2.88% |
Average DrawdownAverage peak-to-trough decline | -72.15% | -83.12% | +10.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.56% | 37.06% | -27.50% |
Volatility
MYY vs. FLYD - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.41%, while MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a volatility of 25.85%. This indicates that MYY experiences smaller price fluctuations and is considered to be less risky than FLYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYY | FLYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 25.85% | -21.44% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 59.48% | -48.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.59% | 74.47% | -58.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 83.70% | -64.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.25% | 83.70% | -62.45% |
MYY vs. FLYD - Expense Ratio Comparison
Both MYY and FLYD have an expense ratio of 0.95%.
Dividends
MYY vs. FLYD - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.45%, while FLYD has not paid dividends to shareholders.
| 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 | 4.45% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% |
Frequently Asked Questions
MYY and FLYD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYD has higher volatility (25.85%) compared to MYY (4.41%). In terms of maximum drawdown, MYY dropped -95.08% vs FLYD's -98.11%.
On 3-year performance, MYY leads with -9.90% vs -55.26% for FLYD. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 4.41%. 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 -9.90% return vs -55.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MYY and FLYD have the same expense ratio: 0.95% per year.
MYY has the higher dividend yield at 4.45%, compared with 0.00% for FLYD.
MYY tracks S&P Mid Cap 400 (-100%), while FLYD tracks MerQube MicroSectors U.S. Travel Index. They also come from different issuers: ProShares and REX.
FLYD currently has the higher Sharpe Ratio (-0.65 vs -1.08), 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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