ERXERY Direxion Daily Energy Bull & Bear 3x Shares ETF


The Direxion Daily Energy Bull & Bear 3x Shares seeks daily investment results, before fees and expenses, of 300% or 300% of the inverse (or opposite) of the performance of the S&P Energy Select Sector Index which invests in areas like oil, pipelines, and coal. There is no guarantee the funds will meet their stated investment objectives.

These leveraged ETFs seek a return that is +300% or -300% of the return of their benchmark index for a single day. The funds should not be expected to provide three times or negative three times the return of the benchmark’s cumulative return for periods greater than a day.

Fact Sheet  ETF Guide

Key Benefits

Key Benefits

You know that TRADING is different than investing. But the opportunity to take advantage of short-term trends is only won, if you get the direction right.

Whether you’re a bull or a bear, Direxion Shares is with you. Our leveraged ETFs are powerful tools built to help you:

  • Magnify your short-term perspective with daily 3x leverage
  • Go where there’s opportunity, with bull and bear funds for both sides of the trade; and
  • Stay agile – with liquidity to trade through rapidly changing markets

Leveraged ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Leverage ETFs are not designed to track the underlying index over periods longer than one trading day.

Target Index

S&P Energy Select Sector Index

The index is provided by Standard & Poor’s and includes domestic companies from the energy industry. It is developed and maintained in accordance with the following criteria:

  • Each of the component securities in the Index is a constituent company of the S&P 500 Index
  • Each stock in the S&P 500 Index is allocated to one and only one of the Select Sector Indexes
  • The Index is calculated by using a modified “market capitalization” methodology, which is a hybrid between equal weighting and conventional capitalization weighting with the weighting capped for the largest stocks included in the Index.

This design ensures that each of the component stocks within a Select Sector Index is represented in a proportion consistent with its percentage with respect to the total market capitalization of such Select Sector Index. One cannot directly invest in an index.

Index Sector Weightings (%)  
Oil, Gas & Consumable Fuels 81.66
Energy & Equipment Services 18.34

Data as of 9/30/2015 is subject to change at any time. 

Daily Holdings


Fund Symbol ERX ERY
Daily Target 300% -300%
Intra-day Indicative Value ERX.IV ERY.IV
Bloomberg Index Symbol IXE IXE
CUSIP 25459W888 25459Y454
ISIN US25459W8881 US25459Y4540
Gross Expense Ratio 1.00% 1.08%
Net Expense Ratio 0.95%* 0.95%*
Inception Date Nov 06, 2008 Nov 06, 2008

Pricing and Performance

Price Information
NAVs and market price information as of November 24, 2015

Ticker Fund Name NAV NAV Change $ NAV Change % Market Price Closing Market Price Closing Change($) Market Price Closing Change(%) Premium / Discount
ERX Daily Energy Bull 3x Shares 35.11 2.12 6.43 35.16 2.14 6.48 0.05
ERY Daily Energy Bear 3x Shares 21.43 -1.48 -6.46 21.39 -1.51 -6.59 -0.04

NAVs and market price information as of November 24, 2015

All data as of 10/31/2015
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
ERX Daily Energy Bull 3x Shares NAV 34.35 -11.53 -43.00 -59.08 -11.49 -2.10 -5.88 1.00 / 0.95*
Market Close 34.90 -11.49 -42.91 -58.98 -11.50 -2.05 -5.86
ERY Daily Energy Bear 3x Shares NAV -30.16 -11.75 8.94 32.06 -22.02 -36.26 -46.46 1.08 / 0.95*
Market Close -30.25 -11.66 9.00 31.85 -22.05 -36.25 -46.46
All data as of 9/30/2015
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
ERX Daily Energy Bull 3x Shares NAV -21.99 -48.92 -57.58 -73.24 -21.73 -4.93 -9.89 1.00 / 0.95*
Market Close -22.12 -48.97 -57.68 -73.32 -21.81 -4.98 -9.92
ERY Daily Energy Bear 3x Shares NAV 20.29 56.74 55.99 100.92 -10.61 -33.83 -44.03 1.08 / 0.95*
Market Close 20.29 56.87 56.27 101.33 -10.58 -33.83 -44.03

* The Net Expense Ratio includes management fees and other operating expenses, but does not include expenses such as Acquired Fund Fees and Expenses, leveraged interest and brokerage commissions. The Funds’ Advisor, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with each Fund. Under this agreement, Rafferty has contractually agreed to cap all or a portion of its management fee and/or reimburse each Fund for Other Expenses through September 1, 2016 to the extent that each Fund’s Total Annual Fund Operating Expenses exceed 0.95%.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For the most recent month-end performance please visit the funds website at

Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus or summary prospectus. Index performance does not include any fees or expenses, are unmanaged and cannot be invested in directly.