In the trailing one year period, the under-performance is even more glaring, with the Russell 2000 down 5.58% versus the S&P 500 up 3.08%, so it is possible that bears are opportunistically establishing, or adding to positions into the recent broad market rally that began to materialize after Apple’s (NasdaqGS: AAPL) earnings last week. [Small-Cap ETFs Underperforming in 2012]
TZA has accumulated more than $600 million since its inception back in 2008, and the fund trades on average more than 24 million shares per session.
This said, due to the underlying makeup of the fund as a daily leveraged/inverse product, the holding periods tend to be small in the fund, and assets can come and go from the fund in a rapid fashion as short term speculators may aggressively flood in or pour out of the fund in size, depending on trading strategies and technical trends (breakdowns or breakouts) that are present at the time.
Direxion Daily Small Cap Bear 3X
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