MIDZ provides geared inverse (-3x) exposure to a market-cap-weighted index of 400 midcap companies

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Performance data represents past performance and is no guarantee of future results. Investment returns and principal value will fluctuate and are subject to market volatility. An investment, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted.

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ETPs that are designed to provide investment results that generally correspond to the performance of their respective underlying indices may not be able to exactly replicate the performance of the indices because of expenses and other factors. ETP shares are bought and sold at market price, which may be higher or lower than their NAV. ETPs are required to distribute portfolio gains to shareholders at year end. These gains may be generated by portfolio rebalancing or the need to meet diversification requirements. ETNs are subject to the credit risk of the underlying issuer. If the issuer defaults on the note, investors may lose some or all of their investment. ETP trading will also generate tax consequences. Additional regulatory guidance on Exchange Traded Products can be found at the [SEC website](https://www.sec.gov/investor/alerts/etfs.pdf) and at the FINRA website ([here](https://www.finra.org/investors/learn-to-invest/types-investments/investment-funds/exchange-traded-fund) and [here](https://www.finra.org/investors/alerts/exchange-traded-notes-avoid-unpleasant-surprises)).

Leveraged and inverse ETPs may involve greater risk and not be suitable for all investors, particularly for buy-and-hold investors. Volatility linked ETPs pose special risks tied to market volatility that can significantly impact the pricing of the product and your ability to trade them during times of extreme market volatility. These types of ETPs generally reset daily and are not designed to, and will not necessarily, track the underlying index or benchmark over a longer period of time. Investing in such ETPs may increase exposure to volatility through the use of leverage, short sales of securities, derivatives and other complex investment strategies. 

The __net asset value (NAV)__ for a fund is calculated by dividing the total net assets of the fund by the total number of shares. NAVs are provided by the fund. ETP investors purchase shares on an exchange at the market price, which may be different from the NAV.

The __expense ratio__ reflects the amount of money a fund charges every year for management, administration, and marketing - expressed as a percentage of total net assets. It does not include any fee waiver or expense reimbursement agreements that may be in effect.

The __30-day yield__ is based on a formula mandated by the Securities and Exchange Commission (SEC) that calculates a fund's hypothetical annualized income, as a percentage of its assets. A security's income, for the purposes of this calculation, is based on the current market yield to maturity (in the case of bonds) or projected dividend yield (for stocks) of the fund's holdings over a trailing 30 day period. This hypothetical income will differ (at times, significantly) from the fund's actual experience; as a result, income distributions from the fund may be higher or lower than implied by the SEC yield.

The market price used to calculate the Price return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. If you trade your shares at another time, your return may differ.

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The line chart allows you to select different time spans. Each time span plots a time interval. The 1 day span and weekly spans, there is additional logic to only show the interval when trades occur. This allows you to see when trading volume occurs during periods of slower activity like extended hours or thinly traded equities. The candlestick chart works in the same manner.

Charts for 24 Hour Market securities display activity from 12 - 12 localized time. The “High” and “Low” statistics represent the highest and lowest values from 12 AM - 12 AM localized time. This includes market, extended, and overnight hours. Overnight volume displays the number of shares that are traded on the BOATS ATS during overnight hours, from 8 PM - 4 AM ET.

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Direxion Daily Mid Cap Bear 3x ETF

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About MIDZ

MIDZ provides geared inverse (-3x) exposure to a market-cap-weighted index of 400 midcap companies The listed name for MIDZ is Direxion Daily Mid Cap Bear 3X Shares.

MIDZ Key Statistics