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Leveraged & Inverse ETFs

Direxion Daily S&P 500 Bear 1X Shares

The Direxion Daily S&P 500 Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the performance of the S&P 500® Index. There is no guarantee the fund will achieve its stated investment objective.

Investing in a Direxion Shares ETF may be more volatile than investing in broadly diversified funds. The use of leverage by the Fund increases the risk to the Fund. The Direxion Shares ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and the consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investment.

SPDN

NAV (Net Asset Value)$11.88As of Jun 20, 2024
1 Day NAV change$+0.03(+0.28%)As of Jun 20, 2024
Daily Target
-100%
Intra-day Value
SPDN.IV
Daily NAV
$11.88
Daily Market Price
$11.88
Expense Ratio
(gross/net %)
0.63 / 0.58*
Daily Volume
912,674
Security Identifier
25460E869
Inception Date
Jun 08, 2016

Operational Updates

  • 01/23/2024
    Direxion's New ETF Alert Service. Get Price and Volume Alerts automatically via text message!
    Set Up Your ETF Alerts Today

Documents & Downloads

  • SPDN Fact Sheet (pdf)
  • Direxion ETFs List (pdf)
  • Prospectus
  • Daily Fund Holdings (csv)

This ETF seeks a return that is -100% of the return of its benchmark index for a single day. The fund should not be expected to provide 100% of the inverse of the benchmark’s cumulative return for periods greater than a day.

Pricing & Performance

NAV and Market Price information as of 06/20/2024.

SPDN Direxion Daily S&P 500 Bear 1X Shares
Net Asset Value (NAV)
$11.88Nav
$+0.03Change
+0.28%Change
Market Price Closing
$11.88Market
$+0.04Change
+0.34%Change
Premium / Discount
Change from Last Day Trading
Premium/Discount tool
Loading chart...
1M3MYTD1Y3Y5Y10YSince
Inception
Expense Ratio*
(Gross / Net%)
Inception
Date
SPDN NAV
-3.92
-1.51
-6.69
-15.34
-6.56
-14.30
-12.57
0.63 / 0.58*
06/08/2016
SPDN Market Close
-4.07
-1.74
-6.70
-15.33
-6.59
-14.32
-12.58
0.63 / 0.58*
06/08/2016

As of May 31, 2024

The Primary Listing Exchange is the NYSE Arca, Inc.

*The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.45%. The Fund’s adviser, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with the Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse the Fund for Other Expenses through September 1, 2025, to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.45% of the Fund’s average daily net assets (excluding, as applicable, among other expenses, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses). If these expenses were included, the expense ratio would be higher.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For the most recent month-end performance please visit the fund’s website at direxion.com.

Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus.

Index Information

The S&P 500® Index (SPXT) is designed to be comprised of stocks that are the 500 leading, large-cap U.S. listed issuers. The securities are selected on the basis of market capitalization, financial viability of the company, sector representation, public float, liquidity and price of a company’s shares outstanding. The Index is a float-adjusted, market capitalization-weighted index. One cannot invest directly in an index.

Index Top Ten Holdings

% of Total
Microsoft
7.09%
Apple
5.65%
Nvidia
5.06%
Amazon.Com Inc
3.74%
Meta Platforms
2.42%
Alphabet Inc Class A
2.02%
Berkshire Hathaway
1.74%
Alphabet Inc Class C
1.70%
Lilly
1.41%
Broadcom Limited
1.32%

Index Sector Weightings

% of Total
Information Technology
29.56%
Financials
13.15%
Health Care
12.41%
Consumer Discretionary
10.34%
Communication Services
8.95%
Industrials
8.80%
Consumer Staples
5.97%
Energy
3.95%
Materials
2.37%
Real Estate
2.27%
Utilities
2.20%
Index data as of 03/31/2024. Index sector weightings and top holdings are subject to change.

View Daily Fund Holdings

Strategy & Benefits

Single inverse ETFs are trading tools that allow investors to either seek profit or seek to apply a hedge for an existing portfolio position that they anticipate will experience negative returns, in the short term.

  • The fund allows investors a tactical trading alternative to selling out of an existing position and creating a taxable event.
  • Since it does not employ leverage, compounding is less magnified compared to leveraged inverse ETFs.

Inverse ETFs are designed to move in the opposite direction of their benchmarks on a daily basis, and should not be expected to track their underlying indexes over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand the consequences of seeking daily inverse investment results and intend to actively manage their investments.

Distributions

Record DateEx DatePay DateIncome DividendShort-Term Capital GainLong-Term Capital GainExpand
03/20/202403/19/202403/26/20240.14023
12/22/202312/21/202312/29/20230.21170
09/20/202309/19/202309/26/20230.20476
06/22/202306/21/202306/28/20230.26537
Record Date03/20/2024
Ex Date03/19/2024
Pay Date03/26/2024
Income Dividend0.14023
Short-Term Capital Gain
Long-Term Capital Gain
Record Date12/22/2023
Ex Date12/21/2023
Pay Date12/29/2023
Income Dividend0.21170
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/20/2023
Ex Date09/19/2023
Pay Date09/26/2023
Income Dividend0.20476
Short-Term Capital Gain
Long-Term Capital Gain
Record Date06/22/2023
Ex Date06/21/2023
Pay Date06/28/2023
Income Dividend0.26537
Short-Term Capital Gain
Long-Term Capital Gain

Documents

Tax Documents

Download the following Tax Reporting Documents

Form 8937

2020

UK Income Reporting

2023 | 2022

How to Trade

ETFs are generally available for purchase on exchanges, much like stocks—and can be bought and sold throughout the trading day whenever exchanges are open. Direxion ETFs cannot be purchased directly from Direxion, but are available for trading on most trading platforms.

We strongly recommend that you take the time to educate yourself on how leveraged and inverse ETFs function and behave in various market conditions before you endeavor to trade them in your account. It’s always a good idea to consult a financial advisor or brokerage account representative if you have questions about any ETFs.

Please note, your advisor or broker may charge commissions or other transaction fees. If you have any questions specific to Direxion products, please contact us direct at [email protected] or 866-476-7523.

Operational Updates

Documents & Downloads

How to Trade

While you can't trade our funds from our website, investors still have multiple options for buying Direxion ETFs
Learn More About Trading Direxion ETFs

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