Key stats
About DIREXION DAILY SMALL CAP BEAR 3X SHARES
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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
TZA offers (-3x) daily inverse exposure to US small-cap companies as defined by the Russell 2000. The underlying index specifically contains the 1001st through the 3000th securities pulled from the Russell 3000 index, which covers approximately 10% of its total market capitalization. The fund may invest in securities across various sectors and industry groups without any bias. Selected securities are then weighted by market-cap. The fund uses ETF and index swaps to get its inverse exposure. As a geared product with daily resets, TZA is designed as a short-term trading tool and not a long-term investment vehicle. As a result, long-term returns could materially differ from those of the underlying index due to daily compounding.
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
TZA last dividends amounted to 4.78 MXN. The quarter before, the issuer paid 1.69 MXN in dividends, which shows a 64.53% increase.
TZA assets under management is 5.68 B MXN. It's risen 12.62% over the last month.
TZA fund flows account for −2.61 B MXN (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, TZA pays dividends to its holders with the dividend yield of 4.88%. The last dividend (Apr 1, 2025) amounted to 4.78 MXN. The dividends are paid quarterly.
TZA 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.
TZA expense ratio is 1.04% meaning you'd have to pay 1.04% of your investment to help manage the fund.
TZA follows the Russell 2000. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
TZA invests in cash.
TZA price has fallen by −22.66% over the last month, and its yearly performance shows a −5.20% decrease. See more dynamics on TZA price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −18.98% over the last month, showed a 2.80% increase in three-month performance and has decreased by −0.69% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −18.98% over the last month, showed a 2.80% increase in three-month performance and has decreased by −0.69% in a year.
TZA trades at a premium (0.33%) meaning the ETF is trading at a higher price than the calculated NAV.