TZA

Direxion Daily Small Cap Bear 3x Shares

$8.57

+0.00%

Market closed. Last update: 11:58 AM ET

📎 Investment Objective

The Direxion Daily Small Cap Bear 3x Shares ETF (TZA) seeks to provide daily investment results that correspond to three times the inverse (-3x) of the daily performance of the Russell 2000® Index.

Overview

ETF tracking Direxion Daily Small Cap Bear 3x Shares

Category Leveraged

Issuer Other

Inception Date 2008-11-05

Market Cap $342.6M

Average Volume N/A

Dividend Yield 5.03%

52-Week Range $7.34 - $24.41

VWAP $8.62

Performance

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Price Chart

Investment Summary

📎 Investment Objective

The Direxion Daily Small Cap Bear 3x Shares ETF (TZA) seeks to provide daily investment results that correspond to three times the inverse (-3x) of the daily performance of the Russell 2000® Index.

🎯 Investment Strategy

The fund uses a range of financial instruments, such as swap agreements and futures contracts, to provide the desired leveraged inverse exposure to the Russell 2000 Index. It does not invest directly in the underlying index components.

✨ Key Features

Provides 3x daily inverse exposure to the small-cap Russell 2000 Index
Designed for short-term, speculative trading rather than long-term investment
Resets daily, so long-term returns may differ significantly from the target multiple
Has very low assets under management and an expense ratio of 0.00%

⚠️ Primary Risks

Extremely high volatility and risk due to the leveraged nature of the fund
Potential for significant losses if the underlying index rises in value
Compounding effect can lead to returns that do not match the target multiple over longer periods
Low trading volume and assets under management increase liquidity risk

👤 Best For

This ETF is intended for experienced, sophisticated traders who have a very short-term, speculative investment horizon and a high risk tolerance. It is not suitable for long-term buy-and-hold investors or those with a low risk appetite.