SPDN
Direxion Daily S&P 500 Bear 1X Shares
SPDN provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
6.8 M
ASSETS UNDER MGMT
56 bp
EXPENSES
Fund Basics
| Fund sponsor | Rafferty Asset Management |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 08, 2016 |
| Assets (mns) | $7 |
| Expense ratio | 56 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 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 4.8% | -9.7% | -13.2% | -10.1% | -14.1% | -- | -- | -13.0% |
| Dividend Yield | 0.7% | 4.3% | 4.7% | 3.7% | 2.1% | -- | -- | 1.5% |
| Total Returns | 5.5% | -5.4% | -8.5% | -6.4% | -12.0% | -- | -- | -11.5% | Ann. Volatility | 28.3% | 19.3% | 15.9% | 18.3% | 17.8% | -- | -- | 18.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | -0.96 | 99% |
| MSCI EAFE | -0.76 | 65% |
| MSCI Emg Mkts | -0.57 | 36% |
Liquidity Measures
| Avg. volume (000) | 14,152 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.07% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $11.45 |
| 30d moving avg. | $11.83 |
| Annualized volatility | 16.1% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 102.4% |
| Short interest (underlying) | 0.0% |
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 |
| SPDN (56 bp) Percentile rank | 62 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPDN | 56.0 | 6.9 | 62.9 |
| Peer Avg. | 49.0 | 20.2 | 69.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .