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Asset Summary

Daily Performance Report for FAZ ETF: Dec 9, 2024

Summary: The day started with FAZ ETF opening at $5.7 and closing at $5.93. The ETF showed resilience throughout the day, with the highest price observed at $5.95 and the lowest at $5.67. The underlying asset had a trading range of $0.28 Overall, it was a positive trading day for FAZ ETF, reflecting investor optimism and market activity.

Change in Closing Price: There was a net increase of $0.23 or 4.04% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for FAZ ETF was 9,728,426 units during Dec 9, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $5.7.

Highest Price: The highest price observed during the day was $5.95.

Lowest Price: The lowest price observed during the day was $5.67.

Closing Price: The day ended at $5.93.

Asset Performance Metrics and Risk Characteristics:

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.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

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:

  • 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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Frequently Asked Questions

FAZ aims to provide three times the inverse daily performance of the Financial Select Sector Index. Due to the leveraged and inverse nature of the ETF, its performance can deviate significantly from the index over longer periods due to daily compounding effects and rebalancing.

FAZ adjusts its holdings and leverage daily to reflect changes in the Financial Select Sector Index. The ETF uses derivatives to achieve its 3x inverse leverage ratio and rebalances frequently to maintain this exposure.

Factors influencing FAZ’s performance include the volatility and performance of the financial sector, overall market conditions, and the effectiveness of the leveraged and inverse strategy. Daily rebalancing and compounding effects can also impact performance.

Historical performance data for FAZ includes past returns, NAV, and volatility. This data provides insights into how well the ETF has tracked its target inverse performance and the effects of its leveraged strategy over time.

Similar ETFs to FAZ include: SKF (ProShares UltraShort Financials), which provides twice the inverse daily performance of the Financial Select Sector Index; SDS (ProShares UltraShort S&P 500), which seeks to provide twice the inverse daily performance of the S&P 500 Index; and TZA (Direxion Daily Small Cap Bear 3X Shares), which provides three times the inverse daily performance of the Russell 2000 Index.

Risks include high volatility and the potential for significant losses due to the leveraged and inverse nature of the ETF. Leveraged inverse ETFs like FAZ are designed for short-term trading and may not perform as expected over longer periods due to compounding and daily rebalancing effects.

Yes, FAZ can be held in retirement accounts such as IRAs or 401(k)s. However, due to its leveraged and volatile nature, it is important to consider how it fits within your overall investment strategy and risk tolerance.

FAZ typically distributes dividends on a quarterly basis. These dividends are generated from the income produced by the underlying securities in the fund and any net investment income.

Key performance metrics for FAZ include its net asset value (NAV), daily percentage returns, expense ratio, and tracking error. NAV represents the per-share value of the ETF, daily returns show how FAZ performs relative to the inverse of the Financial Select Sector Index, the expense ratio covers the fund's management and operational costs, and tracking error measures how closely FAZ tracks its target inverse performance.

FAZ has an expense ratio of approximately 0.95%. This fee covers the costs associated with managing and operating the fund, including administrative and management expenses.

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