DFEN
Direxion Daily Aerospace & Defense Bull 3X Shares
DFEN provides 3x leveraged exposure to a market-cap- weighted index of US aerospace and defense companies.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
344.7 M
ASSETS UNDER MGMT
97 bp
EXPENSES
Fund Basics
| Fund sponsor | Rafferty Asset Management |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | May 03, 2017 |
| Assets (mns) | $319 |
| Expense ratio | 97 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Asset Allocation
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 110.8% | 79.5% | 65.8% | 49.5% | 41.1% | -- | -- | 11.0% |
| Dividend Yield | 0.0% | 0.2% | 1.3% | 1.4% | 1.3% | -- | -- | 1.2% |
| Total Returns | 110.8% | 79.7% | 67.1% | 50.8% | 42.4% | -- | -- | 12.1% | Ann. Volatility | 73.9% | 69.0% | 150.2% | 126.8% | 107.5% | -- | -- | 99.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 3.05 | 55% |
| MSCI EAFE | 2.24 | 33% |
| MSCI Emg Mkts | 0.96 | 7% |
Liquidity Measures
| Avg. volume (000) | 248 |
| ADV traded (mns) | $15 |
| Turnover | 4.4% |
| Avg. Bid/Ask (% of price) | 0.08% |
Technical Indicators
| Recent close | $60.47 |
| 30d moving avg. | $57.46 |
| Annualized volatility | 63.1% |
| Relative strength (RSI) | 58 |
| Short interest | 2.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| DFEN (97 bp) Percentile rank | 94 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DFEN | 97.0 | 7.8 | 104.8 |
| Peer Avg. | 48.9 | 19.6 | 68.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .