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.
SPDN
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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 12/08/2023.
Net Asset Value (NAV)
Market Price Closing
1M | 3M | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Expense Ratio* (Gross / Net%) | Inception Date | |
---|---|---|---|---|---|---|---|---|---|---|
SPDN NAV | -7.94 | -0.06 | -11.71 | -5.93 | -8.37 | -12.42 | — | -12.10 | 0.62 / 0.56* | 06/08/2016 |
SPDN Market Close | -8.00 | -0.12 | -11.76 | -6.05 | -8.38 | -12.45 | — | -12.11 | 0.62 / 0.56* | 06/08/2016 |
As of November 30, 2023
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, 2024, 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.
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 | |
---|---|
Apple | 7.00% |
Microsoft | 6.53% |
Amazon.Com Inc | 3.21% |
Nvidia | 2.99% |
Alphabet Inc Class A | 2.16% |
Tesla | 1.92% |
Meta Platforms | 1.86% |
Alphabet Inc Class C | 1.85% |
Berkshire Hathway Class B | 1.78% |
Exxon | 1.31% |
Index Sector Weightings
% of Total | |
---|---|
Information Technology | 27.46% |
Health Care | 13.36% |
Financials | 12.81% |
Consumer Discretionary | 10.67% |
Communication Services | 8.87% |
Industrials | 8.30% |
Consumer Staples | 6.57% |
Energy | 4.72% |
Materials | 2.45% |
Utilities | 2.41% |
Real Estate | 2.37% |
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 Date | Ex Date | Pay Date | Income Dividend | Short-Term Capital Gain | Long-Term Capital Gain |
---|---|---|---|---|---|
09/20/2023 | 09/19/2023 | 09/26/2023 | 0.20476 | — | — |
06/22/2023 | 06/21/2023 | 06/28/2023 | 0.26537 | — | — |
03/22/2023 | 03/21/2023 | 03/28/2023 | 0.09428 | — | — |
12/21/2022 | 12/20/2022 | 12/28/2022 | 0.13274 | — | — |
09/21/2022 | 09/20/2022 | 09/27/2022 | 0.02510 | — | — |
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— Record Date03/22/2023 Ex Date03/21/2023 Pay Date03/28/2023 Income Dividend0.09428 Short-Term Capital Gain— Long-Term Capital Gain— Record Date12/21/2022 Ex Date12/20/2022 Pay Date12/28/2022 Income Dividend0.13274 Short-Term Capital Gain— Long-Term Capital Gain— Record Date09/21/2022 Ex Date09/20/2022 Pay Date09/27/2022 Income Dividend0.02510 Short-Term Capital Gain— Long-Term Capital Gain— |
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How to Buy
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.
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