Skip to Main Content
  • Search by ticker
  • Sign up for emails
  • Contact Us
  • 866-476-7523
Leveraged & Inverse ETFs

Direxion Daily S&P 500 Bear 1X Shares

The Direxion Daily S&P 500 Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the performance of the S&P 500® Index. There is no guarantee the fund will achieve its stated investment objective.

SPDN

NAV (Net Asset Value)$12.52As of Mar 18, 2024
1 Day NAV change$-0.08(-0.61%)As of Mar 18, 2024
Daily Target
-100%
Intra-day Value
SPDN.IV
Daily NAV
$12.52
Daily Market Price
$12.52
Expense Ratio
(gross/net %)
0.62 / 0.56*
Daily Volume
4,327,061
Security Identifier
25460E869
Inception Date
Jun 08, 2016

Operational Updates

  • 01/23/2024
    Direxion's New ETF Alert Service. Get Price and Volume Alerts automatically via text message!
    Set Up Your ETF Alerts Today

Documents & Downloads

  • SPDN Fact Sheet (pdf)
  • Direxion ETFs List (pdf)
  • Prospectus
  • Daily Fund Holdings (csv)

This ETF seeks a return that is -100% of the return of its benchmark index for a single day. The fund should not be expected to provide 100% of the inverse of the benchmark’s cumulative return for periods greater than a day.

Pricing & Performance

NAV and Market Price information as of 03/18/2024.

SPDN Direxion Daily S&P 500 Bear 1X Shares
Net Asset Value (NAV)
$12.52Nav
$-0.08Change
-0.61%Change
Market Price Closing
$12.52Market
$-0.07Change
-0.56%Change
Premium / Discount
Change from Last Day Trading
Premium/Discount tool
Loading chart...
1M3MYTD1Y3Y5Y10YSince
Inception
Expense Ratio*
(Gross / Net%)
Inception
Date
SPDN NAV
-4.40
-8.77
-5.26
-17.24
-9.38
-13.78
-12.78
0.62 / 0.56*
06/08/2016
SPDN Market Close
-4.32
-8.62
-5.04
-17.15
-9.38
-13.77
-12.77
0.62 / 0.56*
06/08/2016

As of February 29, 2024

The Primary Listing Exchange is the NYSE Arca, Inc.

*The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.45%. The Fund’s adviser, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with the Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse the Fund for Other Expenses through September 1, 2024, to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.45% of the Fund’s average daily net assets (excluding, as applicable, among other expenses, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses). If these expenses were included, the expense ratio would be higher.

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 fund’s website at direxion.com.

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.

Index Information

The S&P 500® Index (SPXT) is designed to be comprised of stocks that are the 500 leading, large-cap U.S. listed issuers. The securities are selected on the basis of market capitalization, financial viability of the company, sector representation, public float, liquidity and price of a company’s shares outstanding. The Index is a float-adjusted, market capitalization-weighted index. One cannot invest directly in an index.

Index Top Ten Holdings

% of Total
Apple
7.03%
Microsoft
6.98%
Amazon.Com Inc
3.45%
Nvidia
3.06%
Alphabet Inc Class A
2.06%
Meta Platforms Class A
1.96%
Alphabet Inc Class C
1.75%
Tesla
1.72%
Berkshire Hathaway Class B
1.62%
JP Morgan Chase
1.23%

Index Sector Weightings

% of Total
Information Technology
28.86%
Financials
12.97%
Health Care
12.62%
Consumer Discretionary
10.85%
Industrials
8.81%
Communication Services
8.58%
Consumer Staples
6.15%
Energy
3.89%
Real Estate
2.52%
Materials
2.41%
Utilities
2.34%
Index data as of 12/31/2023. Index sector weightings and top holdings are subject to change.

View Daily Fund Holdings

Strategy & Benefits

Single inverse ETFs are trading tools that allow investors to either seek profit or seek to apply a hedge for an existing portfolio position that they anticipate will experience negative returns, in the short term.

  • The fund allows investors a tactical trading alternative to selling out of an existing position and creating a taxable event.
  • Since it does not employ leverage, compounding is less magnified compared to leveraged inverse ETFs.

Inverse ETFs are designed to move in the opposite direction of their benchmarks on a daily basis, and should not be expected to track their underlying indexes over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand the consequences of seeking daily inverse investment results and intend to actively manage their investments.

Distributions

Record DateEx DatePay DateIncome DividendShort-Term Capital GainLong-Term Capital Gain
12/22/202312/21/202312/29/20230.21170
09/20/202309/19/202309/26/20230.20476
06/22/202306/21/202306/28/20230.26537
03/22/202303/21/202303/28/20230.09428
12/21/202212/20/202212/28/20220.13274
09/21/202209/20/202209/27/20220.02510
03/25/202003/24/202003/31/20200.01763
12/24/201912/23/201912/31/20190.07441
09/25/201909/24/201910/01/20190.11144
06/26/201906/25/201907/02/20190.12215
03/20/201903/19/201903/26/20190.15310
12/28/201812/27/201801/04/20190.10942
09/26/201809/25/201810/02/20180.11444
06/20/201806/19/201806/26/20180.13966
03/21/201803/20/201803/27/20180.03083
12/20/201712/19/201712/27/20170.05303
09/20/201709/19/201709/26/20170.03802
06/22/201706/20/201706/27/20170.03740
Record Date12/22/2023
Ex Date12/21/2023
Pay Date12/29/2023
Income Dividend0.21170
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/20/2023
Ex Date09/19/2023
Pay Date09/26/2023
Income Dividend0.20476
Short-Term Capital Gain
Long-Term Capital Gain
Record Date06/22/2023
Ex Date06/21/2023
Pay Date06/28/2023
Income Dividend0.26537
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/22/2023
Ex Date03/21/2023
Pay Date03/28/2023
Income Dividend0.09428
Short-Term Capital Gain
Long-Term Capital Gain
Record Date12/21/2022
Ex Date12/20/2022
Pay Date12/28/2022
Income Dividend0.13274
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/21/2022
Ex Date09/20/2022
Pay Date09/27/2022
Income Dividend0.02510
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/25/2020
Ex Date03/24/2020
Pay Date03/31/2020
Income Dividend0.01763
Short-Term Capital Gain
Long-Term Capital Gain
Record Date12/24/2019
Ex Date12/23/2019
Pay Date12/31/2019
Income Dividend0.07441
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/25/2019
Ex Date09/24/2019
Pay Date10/01/2019
Income Dividend0.11144
Short-Term Capital Gain
Long-Term Capital Gain
Record Date06/26/2019
Ex Date06/25/2019
Pay Date07/02/2019
Income Dividend0.12215
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/20/2019
Ex Date03/19/2019
Pay Date03/26/2019
Income Dividend0.15310
Short-Term Capital Gain
Long-Term Capital Gain
Record Date12/28/2018
Ex Date12/27/2018
Pay Date01/04/2019
Income Dividend0.10942
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/26/2018
Ex Date09/25/2018
Pay Date10/02/2018
Income Dividend0.11444
Short-Term Capital Gain
Long-Term Capital Gain
Record Date06/20/2018
Ex Date06/19/2018
Pay Date06/26/2018
Income Dividend0.13966
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/21/2018
Ex Date03/20/2018
Pay Date03/27/2018
Income Dividend0.03083
Short-Term Capital Gain
Long-Term Capital Gain
Record Date12/20/2017
Ex Date12/19/2017
Pay Date12/27/2017
Income Dividend0.05303
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/20/2017
Ex Date09/19/2017
Pay Date09/26/2017
Income Dividend0.03802
Short-Term Capital Gain
Long-Term Capital Gain
Record Date06/22/2017
Ex Date06/20/2017
Pay Date06/27/2017
Income Dividend0.03740
Short-Term Capital Gain
Long-Term Capital Gain

Documents

Tax Documents

Download the following Tax Reporting Documents

Form 8937

2020

UK Income Reporting

2023 | 2022

How to Buy

ETFs are generally available for purchase on exchanges, much like stocks—and can be bought and sold throughout the trading day whenever exchanges are open. Direxion ETFs cannot be purchased directly from Direxion, but are available for trading on most trading platforms.

We strongly recommend that you take the time to educate yourself on how leveraged and inverse ETFs function and behave in various market conditions before you endeavor to trade them in your account. It’s always a good idea to consult a financial advisor or brokerage account representative if you have questions about any ETFs.

Please note, your advisor or broker may charge commissions or other transaction fees.If you have any questions specific to Direxion products, please contact us direct at [email protected] or 866-476-7523.

Operational Updates

Documents & Downloads

How to Buy

While you can't purchase our funds from our website, investors still have multiple options for buying Direxion ETFs
Learn more about buying Direxion ETFs

What's Inside?

Browse Other Funds

View more of our Leveraged & Inverse ETFs at Direxion. As of March 18, 2024
View All

Subscribe to Newsletters & Operational Updates

Sign up for email and/or text of the important news, including:

  • Fund updates including splits, distributions, launches, and other corporate actions
  • Educational events, such as web seminars and conferences
  • Our latest research and industry trends
Subscribe

Learn About Leveraged & Inverse ETFs

Trading is different than investing. Use our insights and educational resources to make sure you’re ready to trade in Direxion’s Leveraged and Inverse ETFs.

an illustration of a book with a graduate cap on to represent the Direxion University

Leveraged and Inverse ETF Education Center

Educational materials, videos, and self-paced online training.

illustration of an 'X' with candlestick chart elements over the top

The Xchange Newsletter

Leveraged ETF market trends and trading ideas. Read our latest article and subscribe.

an illustration of a video for Leveraged & Inverse ETF Education

Leveraged & Inverse ETF Videos

Short videos to teach you about our Leveraged & Inverse ETFs.