Direxion Daily Small Cap Bear 3X Shares
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-27.9%
1 yr return
-54.6%
3 Yr Avg Return
-13.7%
5 Yr Avg Return
-46.0%
Net Assets
$364 M
Holdings in Top 10
104.0%
52 WEEK LOW AND HIGH
$14.1
$12.48
$36.10
Expenses
OPERATING FEES
Expense Ratio 1.04%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
TZA - Profile
Distributions
- YTD Total Return -27.9%
- 3 Yr Annualized Total Return -13.7%
- 5 Yr Annualized Total Return -46.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.91%
- Dividend Yield 4.4%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDirexion Daily Small Cap Bear 3X Shares
-
Fund Family NameDirexion Shares ETF Trust
-
Inception DateNov 05, 2008
-
Shares Outstanding9972797
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPaul Brigandi
Fund Description
The Index measures the performance of approximately 2,000 small-capitalization companies in the Russell 3000® Index, based on a combination of their market capitalization and current index membership. The Index is reconstituted annually and enhanced by initial public offerings quarterly.As of December 31, 2023, the Index consisted of 1,966 holdings, which had an average market capitalization of $3.3 billion, total market capitalizations ranging from $14.4 million to $15 billion and were concentrated in the healthcare, financials, and industrials sectors.The components of the Index and the percentages represented by various sectors in the Index may change over time. The Fund will concentrate its investment in a particular industry or group of industries (i.e., hold 25% or more of its total assets in investments that provide inverse leveraged exposure to a particular industry or group of industries) to approximately the same extent as the Index is so concentrated.The Fund, under normal circumstances, invests at least 80% of the Fund’s net assets (plus borrowing for investment purposes) in financial instruments, including swap agreements, futures contracts, or short positions, that, in combination, provide 3X daily inverse (opposite) or short exposure to the Index or to exchange traded funds (“ETFs”) that track the Index, consistent with the Fund’s investment objective. The financial instruments in which the Fund most commonly invests are swap agreements and futures agreements which are intended to produce economically inverse leveraged investment results.The Fund may also gain inverse leveraged exposure by investing in a combination of financial instruments, such as swap agreements or futures agreements that provide short exposure to the Index, to a representative sample of the securities in the Index that has aggregate characteristics similar to those of the Index or to an ETF that tracks the same Index or a substantially similar index, or the Fund may short securities of the Index, or short an ETF that tracks the same Index or a substantially similar index. The Fund invests in derivatives as a substitute for directly shorting securities in order to gain inverse leveraged exposure to the Index or its components. When the Fund shorts securities, including the securities of another investment company, it borrows shares of that security or investment company, which it then sells. The Fund closes out a short sale by purchasing the security that it has sold short and returning that security to the entity that lent the security. On a day-to-day basis, the Fund is expected to hold money market funds, deposit accounts with institutions with high quality credit ratings (i.e. investment grade or higher), and/or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements.The Fund seeks to remain fully invested at all times consistent with its stated inverse leveraged investment objective, but may not always have inverse exposure to all of the securities in the Index, or its weighting of inverse exposure to securities or industries may be different from that of the Index. In addition, the Fund may have inverse exposure to securities, ETFs or financial instruments not included in the Index.The Fund will attempt to achieve its investment objective without regard to overall market movement or the increase or decrease of the value of the securities in the Index. At the close of the markets each trading day, Rafferty rebalances the Fund’s portfolio so that its exposure to the Index is consistent with the Fund’s inverse leveraged investment objective. For example, if the Index has fallen on a given day, net assets of the Fund should rise, meaning that the Fund’s exposure will need to be increased. Conversely, if the Index has risen on a given day, net assets of the Fund should fall, meaning the Fund’s exposure will need to be reduced and that a shareholder should lose money, a result that is the opposite of traditional index tracking ETFs. This re-positioning strategy may result in high portfolio turnover. The terms “daily,” “day,” and “trading day,” refer to the period from the close of the markets on one trading day to the close of the markets on the next trading day.The Fund is “non-diversified,” meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities. Additionally, the Fund’s investment objective is not a fundamental policy and may be changed by the Fund’s Board of Trustees without shareholder approval.Because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from -300% of the return of the Index over the same period. The Fund will lose money if the Index performance is flat over time, and as a result of daily rebalancing, the Index’s volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Index’s performance decreases over a period longer than a single day.
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TZA - Performance
Return Ranking - Trailing
| Period | TZA Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -27.9% | -75.9% | 35.5% | 80.31% |
| 1 Yr | -54.6% | -83.8% | 16.5% | 91.34% |
| 3 Yr | -13.7%* | -64.2% | 5.3% | 62.99% |
| 5 Yr | -46.0%* | -76.4% | 8.0% | 91.20% |
| 10 Yr | -39.1%* | -71.1% | 13.0% | 90.43% |
* Annualized
Return Ranking - Calendar
| Period | TZA Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -43.3% | -85.3% | 15.3% | 82.68% |
| 2022 | 30.2% | -73.7% | 116.7% | 22.83% |
| 2021 | -50.8% | -80.9% | 94.9% | 87.40% |
| 2020 | -80.4% | -96.0% | 153.8% | 92.91% |
| 2019 | -53.8% | -84.0% | -9.3% | 89.60% |
Total Return Ranking - Trailing
| Period | TZA Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -27.9% | -75.9% | 35.5% | 80.31% |
| 1 Yr | -54.6% | -83.8% | 16.5% | 91.34% |
| 3 Yr | -13.7%* | -64.2% | 5.3% | 62.99% |
| 5 Yr | -46.0%* | -76.4% | 8.0% | 91.20% |
| 10 Yr | -39.1%* | -71.1% | 13.0% | 90.43% |
* Annualized
Total Return Ranking - Calendar
| Period | TZA Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -41.1% | -84.6% | 18.9% | 82.68% |
| 2022 | 30.2% | -73.6% | 117.2% | 22.83% |
| 2021 | -50.8% | -80.9% | 94.9% | 87.40% |
| 2020 | -80.4% | -95.9% | 153.8% | 92.91% |
| 2019 | -53.4% | -83.8% | -8.6% | 90.40% |
TZA - Holdings
Concentration Analysis
| TZA | Category Low | Category High | TZA % Rank | |
|---|---|---|---|---|
| Net Assets | 364 M | 269 K | 3.02 B | 6.15% |
| Number of Holdings | 11 | 4 | 799 | 52.31% |
| Net Assets in Top 10 | 398 M | 353 K | 2.88 B | 6.92% |
| Weighting of Top 10 | 103.99% | 37.3% | 230.5% | 36.15% |
Top 10 Holdings
- DREYFUS GOV'T CASH MGMT -INSTITUTIONAL CUSIP 262006208 DGCXX (#289) 63.19%
- GOLDMAN FINL SQ TRSRY INST 506 30.74%
- GOLDMAN SACHS FIN GOV 465 INSTITUT 16.60%
- DREYFUS TRSRY SECURITIES CASH MGMT 6.90%
- RUSS 2000 INDX SMALL SWAP -0.50%
- RUSS 2000 INDX SMALL SWAP -1.99%
- RUSS 2000 INDX SMALL SWAP -2.21%
- RUSS 2000 INDX SMALL SWAP -2.45%
- Russell 2000 Index -3.11%
- RUSS 2000 INDX SMALL SWAP -3.19%
Asset Allocation
| Weighting | Return Low | Return High | TZA % Rank | |
|---|---|---|---|---|
| Cash | 117.86% | 0.00% | 237.06% | 10.77% |
| Stocks | 0.00% | -106.26% | 100.00% | 43.85% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 36.92% |
| Convertible Bonds | 0.00% | 0.00% | 2.47% | 41.54% |
| Bonds | 0.00% | 0.00% | 92.50% | 50.77% |
| Other | -17.86% | -62.82% | 156.23% | 93.85% |
TZA - Expenses
Operational Fees
| TZA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.04% | 0.59% | 8.36% | 84.25% |
| Management Fee | 0.75% | 0.35% | 1.50% | 20.00% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 18.99% |
| Administrative Fee | N/A | 0.03% | 0.45% | N/A |
Sales Fees
| TZA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| TZA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| TZA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 181.00% | 1.28% |
TZA - Distributions
Dividend Yield Analysis
| TZA | Category Low | Category High | TZA % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.39% | 0.00% | 17.26% | 48.46% |
Dividend Distribution Analysis
| TZA | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Quarterly | Quarterly |
Net Income Ratio Analysis
| TZA | Category Low | Category High | TZA % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.91% | -7.24% | 3.75% | 17.24% |
Capital Gain Distribution Analysis
| TZA | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 24, 2024 | $0.147 | OrdinaryDividend |
| Jun 25, 2024 | $0.233 | OrdinaryDividend |
| Mar 19, 2024 | $0.236 | OrdinaryDividend |
| Dec 21, 2023 | $0.111 | OrdinaryDividend |
| Sep 19, 2023 | $0.288 | OrdinaryDividend |
| Jun 21, 2023 | $0.236 | OrdinaryDividend |
| Mar 21, 2023 | $0.460 | OrdinaryDividend |
| Mar 24, 2020 | $0.012 | OrdinaryDividend |
| Dec 23, 2019 | $0.717 | OrdinaryDividend |
| Sep 24, 2019 | $2.607 | OrdinaryDividend |
| Mar 19, 2019 | $0.216 | OrdinaryDividend |
| Dec 27, 2018 | $2.023 | OrdinaryDividend |
| Sep 25, 2018 | $1.200 | OrdinaryDividend |
| Mar 20, 2018 | $0.600 | OrdinaryDividend |
TZA - Fund Manager Analysis
Managers
Paul Brigandi
Start Date
Tenure
Tenure Rank
Nov 05, 2008
13.58
13.6%
Paul Brigandi, the Fund’s Portfolio Manager, is primarily responsible for the day-to-day management of the Fund. An investment trading team of Rafferty employees assists Mr. Brigandi in the day-to-day management of the Fund subject to his primary responsibility and oversight. The Portfolio Manager works with the investment trading team to decide the target allocation of the Fund’s investments and on a day-to-day basis, an individual portfolio trader executes transactions for the Fund consistent with its target allocation. The members of the investment trading team rotate among the various series of the Trust, including the Fund periodically so that no single individual is assigned to a specific Fund for extended periods of time. Mr. Brigandi has been a Portfolio Manager at Rafferty since June 2004. Mr. Brigandi was previously involved in the equity trading training program for Fleet Boston Financial Corporation from August 2002 to April 2004. Mr. Brigandi is a 2002 graduate of Fordham University.
Tony Ng
Start Date
Tenure
Tenure Rank
Sep 30, 2015
6.67
6.7%
Tony Ng is a Portfolio Manager and joined Rafferty Asset Management in April 2006. He was previously a Team Leader in the Trading Assistant Group with Goldman Sachs from 2004 to 2006. Hg was employed with Deutsche Asset Management from 1998 to 2004. Mr. Ng graduated from State University at Buffalo in 1998.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.16 | 23.76 | 9.04 | 14.22 |