TZA
TZA is an exchange-traded fund (ETF) that aims to provide three times the inverse daily performance of the Russell 2000 Index, which measures the performance of small-cap stocks. It is designed for investors who anticipate a decline in the small-cap segment of the equity market.
Asset Summary
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Asset Performance Metrics and Risk Characteristics:
Metrics below use daily returns for Jan 1, 2026 – Aug 17, 2026 (YTD).
Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.
1 Month Trailing Return
-10.46%
Represents the percentage change in asset value over the past month.
3 Month Trailing Return
620.20%
Indicates the percentage change in asset value over the last three months.
Period Max Drawdown
51.66%
The highest percentage drop from the peak value to the lowest point during the observed period.
Standard Deviation
1,133.69%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
Sharpe Ratio
1.19
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
Calmar Ratio
26.10
The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.
Asset Technical Analysis
Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. Using indicators such as moving averages, pivot levels, momentum studies, and candlestick pattern scans can clarify trend strength and volatility. The tabs below summarize moving averages, pivots, technical indicators, candlestick patterns, and recent prices for this symbol.
Analysis
Moving Averages
Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:
| Type/Period | |
|---|---|
| SMA | |
| EMA | |
| WMA | |
| WEMA |
- SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
- EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
- WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
- WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.
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Maximize Results NowFrequently Asked Questions
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Key performance metrics for TZA include net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio indicates the cost of managing the fund, total return reflects overall performance including dividends, and tracking error measures how closely TZA tracks its benchmark's inverse performance.
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Yes, TZA can be held in retirement accounts such as IRAs or 401(k)s. However, due to its high-risk nature and short-term focus, it may not be suitable for all retirement investment strategies.
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TZA aims to deliver three times the inverse daily performance of the Russell 2000 Index. Due to the daily compounding effect and the use of leverage, its performance may differ significantly from three times the inverse of the index's long-term return. Investors should be aware of potential deviations over longer periods.
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TZA has an expense ratio of approximately 1.00%. This fee covers the costs associated with managing the fund, including the expenses related to leverage and derivatives.
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TZA is managed by Direxion Funds and is a leveraged and inverse ETF. It uses financial derivatives such as futures contracts and swap agreements to achieve its goal of delivering three times the inverse daily return of the Russell 2000 Index. This involves daily rebalancing to maintain the leverage ratio.
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Factors affecting TZA’s performance include market conditions, the performance of the Russell 2000 Index, the effectiveness of the fund’s use of leverage, and daily compounding effects. Short-term market movements and the fund’s rebalancing strategy can also impact performance.
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TZA may distribute dividends on a quarterly basis. These dividends are paid from the income generated by the ETF's underlying securities and can vary depending on the performance of the investments.
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Similar ETFs include other leveraged and inverse funds targeting different indices, such as SH (ProShares Short S&P 500), SDS (ProShares UltraShort S&P 500), and SQQQ (ProShares UltraPro Short QQQ). These funds offer different leverage ratios and target various market segments.
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TZA rebalances its portfolio daily to maintain its leverage ratio of three times the inverse performance of the Russell 2000 Index. This involves adjusting the positions in derivatives and other financial instruments to ensure alignment with the fund’s investment objective.
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TZA specifically targets three times the inverse daily performance of the Russell 2000 Index, focusing on small-cap stocks. Other leveraged and inverse ETFs may target different indices or employ different leverage ratios. Comparisons should consider the underlying index, leverage factor, and investment strategy.
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Disclaimers
The information displayed on this site is sourced from third-party providers and is believed to be reliable. OHLCX has not independently verified this data and does not guarantee its accuracy. Content is for educational and informational purposes only and is not financial or investment advice.
With any investment, your capital is at risk. Past performance is no guarantee of future results. Consult your provider's terms and privacy policies where applicable.
Market data is provided in near real-time when available, but we do not guarantee its accuracy or timeliness.
Securities products are: Not FDIC insured · Not bank guaranteed · May lose value
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