Skip to Content
ETFs

MicroSectors Travel -3x Inverse Leveraged ETN

FLYD
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Jun 21 2022
Expense Ratio
0.95%
Type
US Equities
Fund Owner
MicroSectors
Volume (1m avg. daily)
$136,731
AUM
$4,606,990
Associated Index
MerQube MicroSectors U.S. Travel Index
Inverse/Leveraged
Inverse (-3x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View
Invest with FLYD

What is FLYD?

The return on the MicroSectors Travel -3X Inverse Leveraged ETNs (the "-3X ETNs") is linked to a three times inverse leveraged participation in the performance of the MerQube MicroSectors U.S. Travel Index (the "Index"), compounded daily, minus the applicable fees. The -3X ETNs provide inverse levered exposure to the Index. The Index is a total return index that tracks the stock prices of U.S. domiciled and listed securities that are materially engaged in specified segments of the travel industry. The -3X ETNs seek a return on the underlying index for a single day. The -3X ETNs are not "buy and hold" investments and should not be expected to provide an inverse leveraged return of the underlying index's cumulative return for periods greater than a day.

ETFs related toFLYD

ETFs correlated to FLYD include HIBS, SRTY, TWM

FLYD
Bank of Montreal - ZC SP ETN REDEEM 29/05/2042 USD 25 - 06368J101
HIBS
Direxion Shares ETF Trust - Direxion Daily S&P 500 High Beta Bear 3X Shares
SRTY
ProShares Trust - ProShares UltraPro Short Russell2000 -3x Shares
TWM
ProShares Trust - ProShares UltraShort Russell2000 -2x Shares
TZA
Direxion Shares ETF Trust - Direxion Daily Small Cap Bear 3X Shares
RWM
ProShares Trust - ProShares Short Russell2000 -1x Shares
HDGE
Advisorshares Trust - Ranger Equity Bear -1x Shares
SDS
ProShares Trust - ProShares UltraShort S&P500 -2x Shares
SPXS
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bear -3X Shares
SH
ProShares Trust - ProShares Short S&P500 -1x Shares
SPXU
ProShares Trust - ProShares UltraPro Short S&P 500

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toFLYD

#BTD

Buy the Dips: Nasdaq 100

Category

Featured, Technology Focus

Risk Rating

Aggressive

#BORING

The Not Boring: Rising Rates with Vol Switch

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with FLYD using Composer

FAQ

FLYD is a US Equities ETF. The return on the MicroSectors Travel -3X Inverse Leveraged ETNs (the "-3X ETNs") is linked to a three times inverse leveraged participation in the performance of the MerQube MicroSectors U.S. Travel Index (the "Index"), compounded daily, minus the applicable fees. The -3X ETNs provide inverse levered exposure to the Index. The Index is a total return index that tracks the stock prices of U.S. domiciled and listed securities that are materially engaged in specified segments of the travel industry. The -3X ETNs seek a return on the underlying index for a single day. The -3X ETNs are not "buy and hold" investments and should not be expected to provide an inverse leveraged return of the underlying index's cumulative return for periods greater than a day.

FLYD tracks the MerQube MicroSectors U.S. Travel Index.

No, FLYD is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FLYD is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FLYD is 0.1567%. This is the percent change in the value of FLYD over the most recent 1-month period. The 3-month return on FLYD is 0.1215%. This is the percent change in the value of FLYD over the most recent 3-month period.

The standard deviation of FLYD for the past year is 0.8503%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FLYD include FLYU, TQQQ, and SSO.

ETFs correlated to FLYD include HIBS, SRTY, and TWM.

ETFs that are inversely correlated to FLYD include PEJ, RSPD, and SPHB.

Yes, FLYD is a Inverse (-3x) ETF: This means that FLYD will try to match the performance of MerQube MicroSectors U.S. Travel Index, but with 3x the returns.

Yes, FLYD is a Inverse (-3x) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of MerQube MicroSectors U.S. Travel Index, but move 3x in the opposite direction.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.