Key stats
About Direxion Daily S&P 500 Bear 3X
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Inception date
Nov 5, 2008
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Rafferty Asset Management LLC
Distributor
Foreside Fund Services LLC
SPXS is an extremely aggressive bet against the S&P 500, promising to provide -300% of the index's return for a one-day period. The fund, like most geared inverse products, is designed to deliver its 3x inverse exposure to the S&P 500—a cap-weighted basket of 500 of the largest firms in the US—for one trading day. Holding it for a period longer than that will introduce the effects of compounding, a dynamic that's increasingly pronounced as you add more leverage to the strategy. If the fund is held more than one day, your position will need to be adjusted daily to maintain the -3x multiple. Investors should be comfortable with not just the mechanics of the portfolio but the counterparty risk it takes on to get its exposure: SPXS holds swaps on the index to achieve its goals.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
SPXS last dividends amounted to 0.08 USD. The quarter before, the issuer paid 0.05 USD in dividends, which shows a 41.04% increase.
SPXS assets under management is 444.65 M USD. It's risen 3.17% over the last month.
SPXS fund flows account for 55.88 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, SPXS pays dividends to its holders with the dividend yield of 6.10%. The last dividend (Apr 1, 2025) amounted to 0.08 USD. The dividends are paid quarterly.
SPXS shares are issued by Rafferty Asset Management LLC under the brand Direxion. The ETF was launched on Nov 5, 2008, and its management style is Passive.
SPXS expense ratio is 1.02% meaning you'd have to pay 1.02% of your investment to help manage the fund.
SPXS follows the S&P 500. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
SPXS invests in cash.
SPXS price has fallen by −17.57% over the last month, and its yearly performance shows a −38.23% decrease. See more dynamics on SPXS price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −17.17% over the last month, showed a −9.86% decrease in three-month performance and has decreased by −33.64% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −17.17% over the last month, showed a −9.86% decrease in three-month performance and has decreased by −33.64% in a year.
SPXS trades at a premium (0.02%) meaning the ETF is trading at a higher price than the calculated NAV.