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Asset Summary

Daily Performance Report for SMN ETF: Nov 8, 2024

Summary: The day started with SMN ETF opening at $13.44 and closing at $13.46. The ETF showed resilience throughout the day, with the highest price observed at $13.49 and the lowest at $13.33. The underlying asset had a trading range of $0.16 Overall, it was a positive trading day for SMN ETF, reflecting investor optimism and market activity.

Change in Closing Price: There was a net increase of $0.02 or 0.15% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for SMN ETF was 1,662 units during Nov 8, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $13.44.

Highest Price: The highest price observed during the day was $13.49.

Lowest Price: The lowest price observed during the day was $13.33.

Closing Price: The day ended at $13.46.

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

Factors include changes in the underlying Dow Jones U.S. Basic Materials Index, market volatility, interest rates, and the performance of the leveraged instruments used in the fund. The fund’s performance is also influenced by the daily rebalancing of leverage.

Risks include high volatility, leverage risk, and compounding effects. Due to its use of leverage and derivatives, SMN may experience amplified losses as well as gains. It is designed for short-term trading and may not perform as expected over longer periods.

SMN has an expense ratio of approximately 0.95%. This fee covers the costs of managing the ETF, including the expenses associated with leveraging and derivatives trading.

SMN can be purchased through brokerage accounts like other ETFs. It is traded on major stock exchanges, and investors can buy shares through a broker or trading platform.

While technically possible, SMN is generally not recommended for retirement accounts due to its high volatility and leverage. It is more suited for short-term trading rather than long-term investing.

Historical performance includes data on past returns, both positive and negative, based on the fund’s objective to deliver -2x the daily performance of the Dow Jones U.S. Basic Materials Index. Historical performance should be reviewed with the understanding that past results do not guarantee future performance.

In market downturns, SMN is designed to gain value when the Dow Jones U.S. Basic Materials Index falls. Due to its leveraged inverse strategy, it aims to provide amplified returns in the opposite direction of the index. However, its performance can be volatile and may not always align perfectly with the inverse multiple of the index's daily return.

The liquidity of SMN is determined by its trading volume and bid-ask spread. Generally, higher trading volumes indicate better liquidity, which can facilitate easier entry and exit from positions.

SMN generally does not distribute dividends. As an inverse leveraged ETF, its primary focus is on achieving its daily performance objectives rather than providing income through dividends.

SMN's performance is compared to other leveraged inverse ETFs that target different sectors or indices. Its performance may differ from similar funds based on the underlying index and the level of leverage used. It is important to compare SMN with other funds that use similar strategies and focus on the basic materials sector.

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Disclaimers

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