Enables several functions, including ATP binding activity; ATP hydrolysis activity; and peptide binding activity. Involved in several processes, including amyloid-beta clearance by cellular catabolic process; amyloid-beta metabolic process; and negative regulation of proteolysis. Located in several cellular components, including cell surface; extracellular space; and peroxisomal matrix. Part of cytosolic proteasome complex. Used to study Alzheimer's disease and type 2 diabetes mellitus. Biomarker of Alzheimer's disease and non-alcoholic fatty liver disease. Human ortholog(s) of this gene implicated in type 2 diabetes mellitus. Orthologous to human IDE (insulin degrading enzyme). [provided by Alliance of Genome Resources, Apr 2022]