Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, ProShares Short MidCap 400
With that in mind, let's take a closer look at the ProShares ETF and see what CAPS investors are saying about it right now.
MYY facts
Inception | June 2006 |
Total Net Assets | $25.4 million |
Investment Approach | Seeks daily investment results that correspond to the inverse (-1x) of the daily performance of the S&P MidCap 400 Index. The index is a widely used measure of mid-size company U.S. stock market performance. |
Expense Ratio | 0.95% |
1-Year / 3-Year / 5-Year Returns | (25.1%) / (17.9%) / (12.0%) |
Alternatives |
ProShares UltraShort S&P500 ProShares Short S&P500 Direxion Daily Small Cap Bear 3x Shares |
Sources: S&P Capital IQ and Motley Fool CAPS.
On CAPS, 44% of the 385 members who have rated the ProShares ETF believe it will underperform the S&P 500 going forward.
Just last week, one of those Fools, All-Star TerryHogan, succinctly summed up the bear case for our community:
Contractual waiver on the expense ratio is done at the end of September, that's when the underperformance of this dud will really start to sparkle. Expenses will go from 0.95% to 1.25% (or more maybe?). Plus, the mid-cap 400 is not something I want to bet against. Also this thing tries to match the inverse return daily, so with volatility over time this thing will not do well.
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Want to see how well (or not so well) the stocks in this series are performing? Follow the TrackPoisedTo CAPS account.