ProShares - Short MidCap400
MYY
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- ProShares Short MidCap400 (MYY) is an exchange-traded fund that seeks daily investment results, before fees and expenses, corresponding to the inverse (-1x) of the daily performance of the S&P MidCap 400 Index, a capitalization-weighted benchmark tracking 400 mid-sized U.S. operating companies and real estate investment trusts. The fund invests at least 80% of its net assets, including any borrowings for investment purposes, in financial instruments such as derivatives including swaps and futures that provide inverse exposure to the index; it employs a short strategy targeting public equity markets across diversified sectors. Options trading is available on the fund, which distributes dividends quarterly, has a net expense ratio of 0.95% (with a contractual waiver through September 30, 2026), and calculates NAV at 4:00 p.m. ET. Launched on June 19, 2006, and domiciled in the United States, MYY operates under ProShares Trust, managed by ProShare Advisors LLC with headquarters at 7272 Wisconsin Avenue, 21st Floor, Bethesda, Maryland 20814. The fund primarily serves investors seeking tactical short-term bearish exposure to the U.S. mid-cap equity sector, including individuals, advisers, and institutions; it resets exposure daily, which may lead to compounding effects and return erosion in volatile or trending markets. ProShares, the ETF sponsor, pioneered leveraged and inverse ETFs since 2006, offering a broad lineup including related products like UltraPro Short MidCap400 (SMDD). No major acquisitions, funding rounds, partnerships, new product launches, or strategic shifts specific to MYY have been reported in the last 1-2 years; the fund maintains its core inverse strategy amid ongoing expense waivers and standard quarterly distributions. Recent ProShares-wide developments include share splits on several unrelated ETFs and launches of nine new funds such as Metaverse ETF (VERS) in March 2022, but MYY remains focused on its established S&P MidCap 400 inverse mandate without noted reorganizations. As of December 17, 2025, MYY trades at a NAV of $17.69 with assets under management around $3.86-5.39 million.