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Announcements


On January 6th, a final distribution payment will be made to the UMM and DMM shareholders of record as of December 31st based on the underlying value of the Up and Down MacroShares Trusts. The underlying value of the trusts will be determined based on the November 24, 2009 release of the Reference Value of the S&P/Case-Shiller Composite-10 Home Price Index, plus or minus any interest and expenses accrued in the trust for the period.


The final distributable amounts are as follows:

UMM:  $21.86689

DMM:  $24.9506

Total:   $46.816950

MacroShares Major Metro Housing Down (DMM) allow investors to express a bearish view on the movement of the S&P/Case-Shiller Composite-10 Home Price Index.  The underlying value (UV) of DMM tracks the percentage change of the index in an inverse manner with three times leverage. The market price of DMM reflects other factors, including consensus expectations of the cumulative return of S&P/Case-Shiller Composite-10 Home Price Index, plus potential quarterly net income distributions, over the remaining term of the security.   

 

MacroShares Major Metro Housing Down funds are collateralized via a trust secured by investments in short-term U.S. Government obligations, overnight repurchase agreements secured by Treasuries and cash.   This trust collateral generates automatic income distributions for MacroShares investors to the extent that trust income exceeds trust expenses within a quarterly period.  


Benefits

MacroShares Major Metro Housing Down enables institutions and consumers to manage existing housing market exposure, or easily diversify portfolio returns with a home price-linked investment that does not entail the inconveniences and costs of transacting in real property. 

  • Underlying Value tracks percentage changes in the S&P/Case-Shiller Composite-10 Home Price Index in an inverse manner 
  • Bearish view can be established via a long position
  • Market price reflects investor expectations beyond the near-term
  • Exchange-traded; intraday liquidity
  • Portfolio diversification 
  • No issuer credit risk, no hidden counterparty risks, no futures contract roll costs
  • Fully-collateralized investment backed by U.S. Treasuries, overnight repurchase agreements secured by Treasuries and cash
  • Income from Treasury collateral defrays trust expenses, can produce quarterly distributions, and is exempt from state and local taxes

Profile

 
Symbol (Click for Intraday Price) DMM
ExchangeNYSE Arca
CUSIP55610X103
Trust Inception Date4/11/09
Trust Maturity Date111/25/14
Par Amount$25.00
Trust Inception UV$29.98
Distribution Frequency, if anyQuarterly
Expense Ratio21.25 %
Reference IndexS&P/Case-Shiller Composite-10 Home Price Index
Reference Index Range3108.11 to 216.23
Initial Reference Price$162.17

1 Unless earlier redeemed on a redemption date or an early termination date, a final distribution will be made on these MacroShares on November 25, 2014. Please refer to the prospectus for more information concerning early termination triggers.
2 Excludes a fixed trust fee that diminishes on a per-share basis as fund assets under management grow. These and other details can be found in the prospectus.
3 The Reference Index Range is the maximum performance range of the Reference Index that can be tracked by the Underlying Value of the Major Metro MacroShares. If the Reference Index rises to or above 216.23 or falls to or below 108.11, and, in either case, the Reference Index remains at or above that level (or at or below that level, as applicable) for three consecutive price determination days, these securities will terminate but continue to trade until an announced date, and then be redeemed on the next distribution date. For more information regarding this and other termination triggers, please read the prospectus

Current Distribution

There has been no initial distribution yet, therefore there is no data to display.

Learn More...

Trust Statistics as of 12/28/09

Market Price UV
Close
$24.90 $24.95
Change
($0.10) ($0.13)
52-Week High
$36.84 $30.47
52-Week Low
$21.95 $24.95
Bid/Ask Midpoint$24.91
Bid/Ask Premium (Discount)(0.16%)
Volume17,253
Shares Outstanding430,000
Total Net Assets$10,728,487
Reference Price View
Percentage Change View
Estimated Creation Size $249,500.00
Effective Index Leverage1 3.01

Price History

Figures are based on market close.
1When the underlying value of MacroShares are not equal to their $25 par amount, the base index leverage factor of three is, in effect, amplified (when underlying value is less than par) or diminished (when underlying value exceeds par).

Not FDIC Insured • No Bank Guarantee • May Lose Value  • Read the prospectus before investing
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The information within this website concerning MacroShares is solely for informational purposes and constitutes neither an offer to sell nor the solicitation of an offer to buy securities to any person in any jurisdiction. The information presented herein is not, and is not intended to be, a complete discussion of all material information you should know about MacroShares or any other product.

If you are considering purchasing MacroShares or any security, you should thoroughly read the relevant prospectus prior to making a purchase, and carefully consider the investment objectives and policies, risk considerations, charges and ongoing expenses of any security before investing or sending money. MacroShares are risky investments. In addition to the normal risks associated with securities investing generally, due to their unique structure, underlying benchmarks, terms and attributes, MacroShares investments can trade at premium or discounted prices relative to underlying values (UV), and may exhibit higher volatility and have less liquidity when compared to more traditional equity or debt instruments. Although liquidity providers and market makers commonly narrow or eliminate differences between the prevailing market price and corresponding UV corresponding to traded securities through arbitrage, as unique vehicles, investors should expect premium and discounted market prices to prevail over most of the life of a MacroShares investment. Premiums and discounts will be affected by a MacroShare issue’s expected remaining term, interest rates, supply and demand, structural leverage (if any), termination triggers, and other factors. You may lose all of the money that you invest in MacroShares.

Any underwriter or dealer participating in the offering can arrange to send you the prospectus upon request. You can also obtain a prospectus by accessing the “Literature” section of this website, by calling toll-free 888-Macros1 (888-622-7671), or by visiting EDGAR on the SEC website at www.sec.gov and searching for company filings under the name of the applicable depositor. All securities transactions by MacroMarkets LLC are conducted through its broker-dealer affiliate, MacroFinancial LLC, member FINRA