Frequently Asked Questions About MIDZ

What does MIDZ invest in?

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the S&P MidCapÂ 400 Index. The fund, under normal circumstances, invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the index equal to at least 80% of the fund's net assets (plus borrowing for investment purposes). The index measures the performance of 400 mid-sized companies in the United States. The fund is non-diversified.

What is the expense ratio of MIDZ?

Direxion Daily Mid Cap Bear 3X Shares (MIDZ) charges an expense ratio of 1.08%. This is the annual fee deducted from fund assets to cover management and operations.

Is MIDZ a good long-term hold?

MIDZ is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does MIDZ's daily reset work?

MIDZ rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is MIDZ?

Direxion Daily Mid Cap Bear 3X Shares (MIDZ) manages $6.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is MIDZ actively managed or an index fund?

MIDZ's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

MIDZ (Direxion Daily Mid Cap Bear 3X Shares) is no longer actively trading.

This usually means the fund has been liquidated, merged into another product, or its ticker has been retired. Every price, valuation, dividend, and analyst figure on this page is frozen at the last available trading session and reads as historical reference — not a current-day signal.

MIDZ

Direxion Daily Mid Cap Bear 3X Shares

AMEX·Asset Management, Leveraged · Financial Services

$74.33$9.41+14.50%

Mar 27 7:59 PM UTC

Price Chart

$74.33+$9.41 (+14.50%)today

+0.00%

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FromTo

Jan 8, 2009Aug 25, 2021 → Aug 25, 2026· 5.0 yrsAug 25, 2026

Key Metrics

DistributionDividend Tab

Annual Distribution (FWD)—

Distribution Yield (FWD)—

Annual Distribution (TTM)—

Distribution Yield (TTM)—

Distribution Growth (5Y)—

FrequencyQuarterly

Most Recent—

Ex-Dividend Date—

Payment Date—

Cost & RiskExpenses Tab

Expense Ratio1.08%

Cost per 10k Invested$108

AUM$6.59M

Avg Daily Volume15.42K

Price$74.33

NAV$70.90

Premium / Discount+4.84%

52-Week Range$38.16 – $138.14

Beta−3.52

Fund Overview

Cost Verdict

Is MIDZ's expense ratio expensive, average, or a steal for its category?

Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.

Issuer: Direxion
Asset Class: Equity
Strategy: Leveraged
Inception: January 8, 2009
Fund Type: ETF
Domicile
Currency: USD
ISIN
CUSIP: 25490K810

Peers

Peers Tab

SMDY

Syntax Stratified MidCap

Cap

$6.8M

RALS

ProShares RAFI Long/Short

Cap

$6.7M

TAWK

Direxion Daily Communication Services Index Bull 3X Shares

Cap

$6.2M

Latest News

News Tab

No recent news available.

Frequently Asked Questions About MIDZ

What does MIDZ invest in?: The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the S&P MidCapÂ 400 Index. The fund, under normal circumstances, invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the index equal to at least 80% of the fund's net assets (plus borrowing for investment purposes). The index measures the performance of 400 mid-sized companies in the United States. The fund is non-diversified.
What is the expense ratio of MIDZ?: Direxion Daily Mid Cap Bear 3X Shares (MIDZ) charges an expense ratio of 1.08%. This is the annual fee deducted from fund assets to cover management and operations.
Is MIDZ a good long-term hold?: MIDZ is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.
How does MIDZ's daily reset work?: MIDZ rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.
How big is MIDZ?: Direxion Daily Mid Cap Bear 3X Shares (MIDZ) manages $6.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.
Is MIDZ actively managed or an index fund?: MIDZ's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.