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AIBD

GradeFNew York Stock Exchange Arca

Direxion Daily AI and Big Data Bear 2X ETF

Leveraged · Themes · Direxion · Inception 2024-05-15

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$43.42+0.49 (+1.14%)

As of Sep 23, 2026, 3:10 PM EDT

History starts May 15, 2024.
Intraday session: up, 68 prints from 42.94 to 43.42. Range 42.85 to 43.79. Use the arrow keys to read each point.$42.80$43.20$43.6010 AM12 PM2 PM4 PM
Expense ratio
2.64%
Fund size
$6M
1Y return
−42.6%
Yield · Last 12 months
5.73%
Holdings
5
Volume · 30D
0M sh
NAV per share
$46.80
52W range
low $42.64high $111.70

The ETF.net AIBD Grade

F

9/ 100

Rank 27 of 30 in Artificial Intelligence⁠

Confidence Medium

Six-pillar profile for AIBD. Scores out of 100: Cost 0, Risk 5, Mission not scored, Tradability 21, Holdings not scored, Durability 44. Strongest: Durability (44). Weakest: Cost (0). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 9 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 0
    Category rank30/30 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 5
    Category rank27/27 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 21
    Category rank26/30 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 44
    Category rank19/30 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on AIBD

ETF.net Research

FThe bearish side of the AI trade, packaged as an ETF. AIBD aims for 200% of the inverse of the Solactive US AI & Big Data Index's daily move, and it resets every session: a short-horizon trading tool by its own design, not a hold-and-forget position.

Stated mandate

The Fund seeks daily investment results, before fees and expenses, equal to 200% of the inverse of the Solactive US AI & Big Data Index’s daily performance. It is designed for a single trading day rather than for achieving that multiple over longer periods.

Why people hold it

  1. 01Lets you lean against the AI theme without a margin account or borrowing shares. The fund itself carries the -2x daily exposure.
  2. 02The mandate is spelled out, not implied: 200% of the inverse of one named index, the Solactive US AI & Big Data Index, on US-listed names.
  3. 03A rare bearish instrument in a cohort stacked with long-only AI funds, so it expresses a view most of the category structurally cannot.

Worth knowing

  1. 01Daily reset: hold past one session and returns compound. Over longer stretches the result can diverge widely from -2x the index's move for that period.
  2. 02The 2.64% expense ratio runs many times what plain AI index peers charge (XAIX at 0.35%, QTUM at 0.40%).
  3. 03A small, lightly traded fund, which can mean wider bid-ask spreads than the category's heavyweights.

AIBD Holdings

As of Sep 22, 2026, 10:03 PM
Asset class
Other
Holdings
5
Top-10 weight
239%
Largest holding
SOLUSAIP SWAP FINANCING LEG (SOLUSAJPS)89.2%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SOLUSAIP SWAP FINANCING LEG (SOLUSAJPS)89.22%-650$-4M1
002—SOLUSAIP SWAP FINANCING LEG (SOLUSABCS)86.06%-627$-4M1
003—SOLUSAIP SWAP FINANCING LEG (SOLUSAGSS)63.55%-463$-3M1

Showing 1–3 of 3 holdings

AIBD Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

AIBD$5,743
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. AIBD $5,743. SPY $11,723. Use the arrow keys to read each point.$5,053$10,056$15,060Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for AIBD. Periods over one year show the average yearly return.
PeriodAIBD
Year to date−43.0%
1 month−13.1%
3 months−15.7%
1 year−42.6%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AIBD
YearReturn barAIBD
2026 YTD−43.0%
2025−49.1%
2024−33.0%

Since listing, May 15, 2024

AIBD in the news

ETF.net Research hasn’t filed on AIBD yet — coverage lands here as it’s written.

AIBD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
5.73%Last 12 months
Payout per share
$2.46Last 12 months
Upcoming payment
$0.50 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 10 payments from 2024 to 2026 YTD. Jun 25, 2024 $1.33; Sep 24, 2024 $2.47; Dec 23, 2024 $1.82; Mar 25, 2025 $1.10; Jun 24, 2025 $1.21; Sep 23, 2025 $0.59; Dec 23, 2025 $0.48; Mar 24, 2026 $0.44; Jun 23, 2026 $0.45; Sep 22, 2026 $0.50. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Pays Sep 29, 2026$0.50
Jun 23, 2026Jun 30, 2026$0.45
Mar 24, 2026Mar 31, 2026$0.44
Dec 23, 2025Dec 31, 2025$0.48
Sep 23, 2025Sep 30, 2025$0.59
Jun 24, 2025Jul 1, 2025$1.21
Mar 25, 2025Apr 1, 2025$1.10
Dec 23, 2024Dec 31, 2024$1.82
Sep 24, 2024Oct 1, 2024$2.47
Jun 25, 2024Jul 2, 2024$1.33

AIBD Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
47.7%
Annualised · 27 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−1.25
vs 3-month T-bills · 27 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−82.6%
28 months · trough Sep 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−3.32
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

AIBD Cost

Expense ratio2.64%
  • The middle half of Artificial Intelligence funds
  • Median 0.65%

Every other Artificial Intelligence fund charges less.

AIBD costs $264.00 a year on $10,000. The median Artificial Intelligence fund costs $65.00.