MYY vs. MSFD
MYY (ProShares Short S&P Mid Cap400) and MSFD (Direxion Daily MSFT Bear 1X Shares) are both Inverse Equities funds - MYY tracks the S&P Mid Cap 400 (-100%) while MSFD tracks the Microsoft Corporation (-100%). Both are passively managed. Over the past 3 years, MYY returned -7.56%/yr vs -10.70%/yr for MSFD. Their 0.37 correlation means their historical movements had little consistent relationship. MYY charges 0.95%/yr vs 1.06%/yr for MSFD.
Performance
MYY vs. MSFD - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -10.96% return, which is significantly lower than MSFD's -1.78% return.
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%
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%
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 |
MYY vs. MSFD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -10.96% | -4.05% | -7.08% | -9.46% | -3.35% |
MSFD Direxion Daily MSFT Bear 1X Shares | -1.78% | -13.36% | -7.86% | -35.90% | 3.88% |
Correlation
The correlation between MYY and MSFD 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 MYY and MSFD 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
MYY vs. MSFD — Risk / Return Rank
MYY
MSFD
MYY vs. MSFD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and Direxion Daily MSFT Bear 1X Shares (MSFD). 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.
| MYY | MSFD | 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 | 0.86 | 1.09 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 0.36 | -1.12 |
| Martin ratioReturn relative to average drawdown | -1.35 | 1.20 | -2.55 |
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Drawdowns
MYY vs. MSFD - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.20%, which is greater than MSFD's maximum drawdown of -59.90%. Use the drawdown chart below to compare losses from any high point for MYY and MSFD.
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Drawdown Indicators
| MYY | MSFD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.20% | -59.90% | -35.30% |
Max Drawdown (1Y)Largest decline over 1 year | -18.25% | -26.54% | +8.29% |
Max Drawdown (3Y)Largest decline over 3 years | -35.14% | -40.50% | +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 | -95.07% | -55.70% | -39.37% |
Average DrawdownAverage peak-to-trough decline | -72.31% | -41.72% | -30.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.38% | 7.87% | +2.51% |
Volatility
MYY vs. MSFD - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 3.36%, while Direxion Daily MSFT Bear 1X Shares (MSFD) has a volatility of 18.10%. This indicates that MYY experiences smaller price fluctuations and is considered to be less risky than MSFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYY | MSFD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 18.10% | -14.74% |
Volatility (6M)Calculated over the trailing 6-month period | 11.59% | 27.83% | -16.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.70% | 32.03% | -16.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.53% | 27.55% | -8.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 27.55% | -6.34% |
MYY vs. MSFD - Expense Ratio Comparison
MYY has a 0.95% expense ratio, which is lower than MSFD's 1.06% expense ratio.
Dividends
MYY vs. MSFD - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.28%, more than MSFD's 4.02% 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
MYY and MSFD 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, MYY dropped -95.20% vs MSFD's -59.90%.
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.
MYY tracks S&P Mid Cap 400 (-100%), while MSFD tracks Microsoft Corporation (-100%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for MYY and 1.06% for MSFD.
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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