DirexionLeveraged#175 of 232 by YTD

Direxion Daily Small Cap Bear 3X ETFTZA

1D 1M 3M YTD 1Y 3Y 5Y MAX

S&P 500 Compare

$49.28−2.7%

−$1.36 · Nov 6 close

Buy

AUM: $194M
Fee: 0.99%
Yield: 3.9%

Bumpy · 1Y: 4.1×S&P
Volume: 6.4M
NAV: $50.50

52-week range48% below the high

$36.33$95.40

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	−2.7%	+3.2%	+30.4%	−32.4%	−34.9%	−85.4%	−78.9%	−100.0%
Peer average	−2.4%	+19.7%	+17.6%	−30.7%	−33.4%	−79.0%	−49.3%	—
S&P 500 · VOO	+0.3%	−5.0%	−4.6%	+8.7%	+9.8%	+80.8%	+71.8%	—

TZA in One Breath

TZA Among An Index ETFs

YTD

#1YANGDirexion+18.9%$82.1M

#2TYODirexion+16.3%$10.0M

#3TMVDirexion+16.0%$185M

#4TTTProShares+13.2%$15.2M

#5WEBSDirexion−4.8%$8.4M

#6CARDMax−8.2%$1.5M

#7FAZDirexion−15.0%$84.2M

#8SDOWProShares−18.1%$168M

#15TZADirexion−32.4%$194M

End-of-day Nov 8, 2026 · 28 An index ETFs by YTD

$10,000 in TZA

$10,000 in TZA became

$2,114

In the S&P 500 (VOO)

$17,177

Total return, dividends in · Oct 29, 2021 – Nov 6, 2026 · S&P 500 uses VOO

TZA Returns by Period

Today

YTD

MAX

TZA

−2.7%

+3.2%

+30.4%

−32.4%

−34.9%

−85.4%

−78.9%

−100.0%

Peer average

−2.4%

+19.7%

+17.6%

−30.7%

−33.4%

−79.0%

−49.3%

—

S&P 500 · VOO

+0.3%

−5.0%

−4.6%

+8.7%

+9.8%

+80.8%

+71.8%

—

End-of-day Nov 8, 2026 · total return, dividends in · peers = 36 An index ETFs

TZA’s Leveraged Rank

YTD

#175of 232
leveraged ETFs

Best · ZSL+571.3%

Average−9.9%

TZA−32.4%

Worst · CRCD−91.8%

Leveraged ETFs by YTD return · Nov 8, 2026

TZA Price and 52-Week Range

From the 52-week high

−48.3%

From the 52-week low

+35.6%

Today $48.77 – $51.17

Previous close $50.64

$49.28 now

52-week low$36.3352-week high$95.40

End-of-day Nov 8, 2026 · box = today’s range, dashed = previous close

TZA’s Share of An Index ETFs

Today

0.2%

of the $120B in 404 An index ETFs

TZA$194M0.2%

TQQQ$29.1B24.1%

SOXL$13.6B11.3%

401 others$77.6B64.4%

An index ETF AUM · Nov 8, 2026

TZA Fee per $100 vs Peers

Today

$0.99a year
per $100

$99 a year on $10,000

SPXU$0.90

SQQQ$0.94

TMV$0.97

TZA$0.99

SOXS$1.00

SPXS$1.04

Expense ratio · An index peers · Nov 8, 2026

Inside TZA

12 holdings

TZA

Direxion Daily Small Cap Bear 3X ETF

Today

TZA gets its 3× exposure through swaps and futures, so a list of holdings would not show what you own: […]

Direxion TZA · holdings

How It Compares

TZA

Direxion Daily Small Cap Bear 3X ETF’s Peers

YTD


SOXS	DirexionRead Desk	1.00%	−88.3%	−88.8%	$5.5B
SQQQ	ProSharesRead Desk	0.94%	−27.7%	−25.0%	$2.1B
SPXU	ProSharesRead Desk	0.90%	−19.8%	−21.3%	$425M
SPXS	DirexionRead Desk	1.04%	−19.7%	−21.1%	$380M
TZA	DirexionThis fundRead Desk	0.99%	−32.4%	−34.9%	$194M
TMV	DirexionRead Desk	0.97%	+16.0%	+23.0%	$185M

An index peers · YTD and past-year returns · as of Nov 9, 2026 · sorted by AUM

Head to Head

Put TZA head to head with SOXS →

SOXS vs TZA

YTD

SOXSDirexion · An indexTZADirexion · An index

Year to date

−88.3%

−32.4%

TZA wins+55.9 pts

Past year

−88.8%

−34.9%

TZA wins+53.9 pts

Fee

1.00%

0.99%

TZA winslower fee

Yield

16.7%

3.9%

SOXS wins+12.9 pts

AUM

$5.5B

$194M

SOXS28.5× more

3–1TZA wins

Direxion SOXS and Direxion TZA · year-to-date · as of Nov 9, 2026 · AUM not scored

TZA vs VOO

YTD

TZA · Direxion Daily Small Cap Bear 3X

−32.4%

VOO · S&P 500

+8.7%

Gap

41.1 pts

Direxion TZA and Vanguard VOO · YTD total return · as of Nov 9, 2026

TZA vs Its Peer Average

YTD

TZAAvsBPeer average

1D−2.7%−2.4%

1M+3.2%+19.7%

3M+30.4%+17.6%

YTD−32.4%−30.7%

1Y−34.9%−33.4%

3Y−85.4%−79.0%

5Y−78.9%−49.3%

1–6Peer average wins

36 An index peers · each row scaled to its leader

How Bumpy Is TZA?

View

TZA

How Bumpy

4.1×the S&P 500’s swings

CalmerBumpierS&P 1×TZA

S&P 500 swings · 1Y13.6%

Direxion TZA · daily swings over the past year vs the S&P 500

TZA

Worst Drop

−60.8%from its Nov 20 high

Still below the high−46.3%

$10,000 at the high is now$5,370

Direxion TZA · fall from the highest close, past year

TZA

On a Bad Day

−3.7×rose, on average, when the S&P 500 fell

TZA’s worst day: Friday, Feb 6

TZA

−10.8%

S&P 500

1.9%

Up days45 of every 100

S&P 500 up days52 of every 100

Direxion TZA · average move on days the S&P 500 fell

TZA

Return for the Bumps

1Y#7 of 7 index funds

#1TMVDirexion · −3×

most for the bumps

#2SQQQProShares · −3×

lost money

#3SPXSDirexion · −3×

lost money

#4SPXUProShares · −3×

lost money

#5SOXSDirexion · −3×

lost money

#6SDOWProShares · −3×

lost money

#7TZADirexion · −3×

lost money

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

TZA

Cost

Today

$99a year per $10,000

SPXU

$90

SQQQ

$94

TMV

$97

SDOW

$98

TZA

$99

SOXS

$100

SPXS

$104

Expense ratio 0.99%, taken from the fund’s value

TZA

Volatility & Beta

55.7%annual volatility

S&P 500 volatility13.6%

Downside volatility39.2%

Beta vs SPY−3.41

Correlation vs SPY−0.83

Beta rank, lowest first, of 7#3

Daily total returns × √252 · past 254 trading days

TZA

Max Drawdown

−60.8%peak to trough

Peak closeNov 20, 2025

Current drawdown−46.3%

Worst day−10.77% · Feb 6

Closing prices, dividends in

TZA

Up / Down Capture

−370%down capture vs SPY

Down days

−370%

Up days

−361%

S&P 500

100%

Up ÷ down capture[…]

Up days45.3% (S&P 52.0%)

Average daily move on SPY up days and down days

TZA

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
TMV −3×	0.79	1.18	28.4%	−17.1%	−0.53	$97
SQQQ −3×	−0.41	−0.60	63.5%	−63.3%	−4.35	$94
SPXS −3×	−0.56	−0.82	40.7%	−46.3%	−3.00	$104
SPXU −3×	−0.57	−0.84	40.5%	−46.3%	−2.98	$90
SOXS −3×	−0.63	−0.92	147.8%	−96.7%	−8.09	$100
SDOW −3×	−0.63	−0.88	40.0%	−42.8%	−2.46	$98
TZA −3×	−0.69	−0.98	55.7%	−60.8%	−3.41	$99

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

TZA

Trading

Today

−2.42%below its holdings’ value

Close$49.28

NAV$50.50

Fee per $10,000$99 a year

Avg. volume 30D4.9M shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 6

The Details

TZA

Fund Facts

Today

2008launched Nov 5

Tracks[…]

Exchange · CUSIPAMEX · 25461H325

StructureETF

Leverage-3x

Cost on $10,000$99 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Direxion TZA · fund facts · as of Nov 9, 2026

TZA

Payouts by Year

$0.47per share, Sep 2026

Distribution yield3.9%

PaidEvery quarter

Latest ex-date · paidSep 22 · Sep 29, 2026

12 payouts added up$13.48 a share

Direxion TZA · distributions by ex-date · 2018–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-07-31 ↗SEC reported portfolio · 2026-04-30 ↗SEC reported portfolio · 2026-01-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-10-31 ↗SEC reported portfolio · 2025-07-31 ↗SEC reported portfolio · 2025-04-30 ↗

Trading & Liquidity

Net asset value$50.50

Premium / discount[…]

Median spread · 30D[…]

Volume today6.4M

Average volume · 30D4.9M

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.99%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$99.00

Our risk indicator5/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Sep 22, 2026	Sep 29, 2026	$0.47
Jun 23, 2026	Jun 30, 2026	$0.38
Mar 24, 2026	Mar 31, 2026	$0.71
Dec 23, 2025	Dec 31, 2025	$0.34
Sep 23, 2025	Sep 30, 2025	$0.53
Jun 24, 2025	Jul 1, 2025	$0.56
Mar 25, 2025	Apr 1, 2025	$2.38
Dec 23, 2024	Dec 31, 2024	$0.84
Sep 24, 2024	Oct 1, 2024	$1.47
Jun 25, 2024	Jul 2, 2024	$2.33
Mar 19, 2024	Mar 26, 2024	$2.36
Dec 21, 2023	Dec 29, 2023	$1.11

Issuer contentFrom DirexionHear the strategy from the people behind TZA.No issuer videos have been published for this fund.Are you the issuer? Claim this fund →