ProShares UltraShort Dow30 (DXD)
ProShares UltraShort Dow30 operates in the Asset Management industry of the Financial Services sector, headquartered in Bethesda, MD, US. The stock last traded at $16.36, up 0.18% on the session, giving a market capitalisation of $43.6M. Its beta of -1.65 implies it has historically moved less than the broad market.
DXD is designed to deliver -2x daily performance of the 30 US large-caps in the DJIA, weighted by price. As with any fund tracking the popular but dated DJIA, it's important to remember that it's not tracking a particularly robust representation of the larger US equity market. This is inverted, geared exposure to an index with arbitrary sector biases and antiquated weighting. Anyone holding DXD for longer than a day will be exposed to the path dependency. This dynamic is especially acute in funds that overlay leverage on inverse exposure as DXD does. Longer term investors must manage their exposure on a daily basis or use it as it was intended to be used: as a short-term trading tool. The expense ratio for DXD matters less than the total all in trading costs.
ProShares UltraShort Dow30 is most often compared with the following Financial Services names: