Key stats
About Direxion Daily TSM Bear 1X Shares
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Inception date
Oct 3, 2024
Structure
Open-Ended Fund
Replication method
Synthetic
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
ALPS Distributors, Inc.
TSMZ is a short-term tactical tool that aims to deliver -1x the price return, less fees and expenses, for a single day of Taiwan Semiconductor Manufacturing (TSM) stock. Purchasers holding shares for longer than a day will need to monitor and rebalance their position frequently to attempt to achieve the -1x multiple. Aside from the inverse exposure, compared to traditional ETFs, the shares take on added volatility due to the lack of diversification. Purchasers should conduct their own individual stock research prior to initiating a position and trade with conviction. Due to the complexities of the product, shares tend to perform as anticipated only when the underlying shares are trending, and holders are on the positive corresponding side of that trade. However, the shares provide the advantage of capping the maximum loss to the full amount invested.
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
TSMZ last dividends amounted to 0.25 USD. The quarter before, the issuer paid 0.19 USD in dividends, which shows a 24.56% increase.
TSMZ assets under management is 2.50 M USD. It's fallen 11.11% over the last month.
TSMZ fund flows account for −113.17 K 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, TSMZ pays dividends to its holders with the dividend yield of 2.92%. The last dividend (Apr 1, 2025) amounted to 0.25 USD. The dividends are paid quarterly.
TSMZ shares are issued by Rafferty Asset Management LLC under the brand Direxion. The ETF was launched on Oct 3, 2024, and its management style is Passive.
TSMZ expense ratio is 0.98% meaning you'd have to pay 0.98% of your investment to help manage the fund.
TSMZ follows the Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
TSMZ invests in cash.
TSMZ price has fallen by −12.55% over the last month, and its yearly performance shows a −21.55% decrease. See more dynamics on TSMZ price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −11.84% over the last month, showed a −17.78% decrease in three-month performance and has decreased by −11.03% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −11.84% over the last month, showed a −17.78% decrease in three-month performance and has decreased by −11.03% in a year.
TSMZ trades at a premium (0.05%) meaning the ETF is trading at a higher price than the calculated NAV.