Data as of .
MYY vs MZZ: which held to its multiple?
Over three months against its own daily promise, MYY finished 1.5 points over and MZZ 2.4 points over.
ETFIQ Decay Resistance Score: MZZ scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 121 inverse ETFs over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| MYY | MZZ | MYY | MZZ | MYY | MZZ | |
| 1 month | +5.3% | +10.2% | +4.6% | +9.3% | +0.7 pts | +0.9 pts |
| 3 months | +3.1% | +5.2% | +1.9% | +3.9% | +1.2 pts | +1.3 pts |
| 6 months | −8.9% | −18.9% | −11.6% | −23.3% | +2.7 pts | +4.3 pts |
| 1 year | −8.1% | −19.5% | −13.0% | −26.0% | +4.9 pts | +6.5 pts |
| 3 years | −24.4% | −52.1% | −49.2% | −98.4% | +24.8 pts | +46.2 pts |
| Since launch | −89.4% | −99.5% | not meaningful | not meaningful | not meaningful | not meaningful |
| MYY ProShares Short MidCap400 Aims to return 1 times the opposite of the daily move of the S&P MidCap 400 | MZZ ProShares UltraShort MidCap400 Aims to return twice the opposite of the daily move of the S&P MidCap 400 | |
|---|---|---|
| Issuer | ProShares | ProShares |
| Sets out to return | -1x | -2x |
| On | MDY | MDY |
| Segment | us mid cap | us mid cap |
| Fund returned, 3 months | +3.1% | +5.2% |
| Underlying returned, 3 months | −1.9% | −1.9% |
| What the stated multiple implies, 3 months | +1.9% | +3.9% |
| Difference from stated, 3 months | +1.2 pts | +1.3 pts |
| Fund returned, 1 year or since launch | −8.1% | −19.5% |
| Difference from stated, over that window | +4.9 pts | +6.5 pts |
| Underlying volatility | 12% | 12% |
| Expense ratio | not published | 0.95% |
| Launched | Jan 4, 2010 | Jan 4, 2010 |
MYY in plain words
Three months to Sep 11, 2026: MYY returned +3.1% where its own daily promise gave +1.6%, 1.5 points over. Read the multiple against the whole window instead and −1 times MDY's −1.9% implies +1.9%, which makes MYY look 1.2 points over. 0.3 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. MYY aims to return -1 times MDY's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. MDY moved at 12% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
MZZ in plain words
Three months to Sep 11, 2026: MZZ returned +5.2% where its own daily promise gave +2.8%, 2.4 points over. Read the multiple against the whole window instead and −2 times MDY's −1.9% implies +3.9%, which makes MZZ look 1.3 points over. 1.0 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. MZZ aims to return -2 times MDY's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, MYY or MZZ?
- Over the window to Sep 11, 2026, MYY finished 1.2 points from what its multiple implies and MZZ finished 1.3 points from its own, so MYY came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are MYY and MZZ levered on the same thing?
- Yes. Both are levered on the S&P MidCap 400, MYY at -1 times and MZZ at -2 times the daily move.
- Which one decays faster, MYY or MZZ?
- Decay follows how much the underlying moves about. Over this window MYY’s moved at 12% annualized and MZZ’s at 12%, so MYY has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold MYY or MZZ for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, MYY against MZZ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/MYY-MZZ Free to use with attribution; the underlying files are at Open data.