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AVS

GradeANASDAQ Global Market

Direxion Daily AVGO Bear 1X Shares

Leveraged · Single-Stock Leveraged · Direxion · Inception 2024-10-10

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.

$8.14+0.20 (+2.58%)

As of Sep 23, 2026, 2:18 PM EDT

History starts Oct 10, 2024.
Intraday session: up, 57 prints from 7.94 to 8.14. Range 8.00 to 8.16. Use the arrow keys to read each point.$8.00$8.05$8.1010 AM12 PM2 PM4 PM
Expense ratio
1.21%
Fund size
$14M
1Y return
−21.0%
Yield · Last 12 months
3.41%
Volume · 30D
12.4M sh
NAV per share
$8.39
52W range
low $6.25high $10.96

The ETF.net AVS Grade

A

80/ 100

Rank 6 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for AVS. Scores out of 100: Cost 74, Risk 72, Mission 100, Tradability 76, Holdings not scored, Durability 65. Strongest: Mission (100). Weakest: Durability (65). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 80 of 100 sits in the A 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.
    AScore 74
    Category rank16/58 · top 28%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank1/31 · top 3%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 72
    Category rank7/48 · top 15%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 76
    Category rank9/58 · top 16%

  • 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.
    BScore 65
    Category rank15/58 · top 26%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on AVS

ETF.net Research

ADirexion's straight inverse on Broadcom: it aims for 100% of the opposite of AVGO's daily move, with no leverage stacked on top. The target resets every day, so it behaves like a trading tool.

Stated mandate

The fund seeks daily investment results equal to 100% of the inverse performance of Broadcom Inc.'s common shares, before fees and expenses.

Why people hold it

  1. 01Unleveraged where much of the shelf is not: AVS targets -1x AVGO's daily move, while rival short-AVGO products such as AVGS aim for -2x.sec.gov
  2. 02Charges 1.21% a year, under the median fee for inverse single-stock funds, and it has been one of the more actively traded ways to fade Broadcom.
  3. 03Delivery matches the promise: it has tracked its daily inverse target closely, one of the stronger implementations among single-stock bear funds.

Worth knowing

  1. 01The daily reset means returns over longer holds drift from -1x, and swings in AVGO compound that gap in either direction.direxion.com
  2. 02One stock, one bet: no diversification cushion, so a Broadcom move lands on the fund undiluted.direxion.com
  3. 03Launched in October 2024 with a small asset base, so the record is short and the fund is not among the giants of its niche.direxion.com

AVS Holdings

As of Sep 22, 2026, 10:02 PM
Asset class
Other
Holdings
—
Top-10 weight
5454%
Largest holding
DREYFUS GOVT CASH MAN INS3530.2%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—DREYFUS GOVT CASH MAN INS3530.23%8,329,498$8M108
002—GOLDMAN FINL SQ TRSRY INST 506992.73%2,342,317$2M100
003—GOLDMAN SACHS FIN GOV 465 INSTITUT474.56%1,119,717$1M75
004—DREYFUS TRSRY SECURITIES CASH MGMT456.28%1,076,589$1M82

Showing 1–4 of 4 holdings

AVS Performance

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

AVS$7,898
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. AVS $7,898. SPY $11,723. Use the arrow keys to read each point.$5,982$9,086$12,190Sep 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 AVS. Periods over one year show the average yearly return.
PeriodAVS
Year to date−15.1%
1 month+0.1%
3 months+4.5%
1 year−21.0%
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 AVS
YearReturn barAVS
2026 YTD−15.1%
2025−45.9%
2024−26.5%

Since listing, Oct 10, 2024

AVS in the news

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

AVS 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.
3.41%Last 12 months
Payout per share
$0.27Last 12 months
Last payment
$0.04 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 8 payments from 2024 to 2026 YTD. Dec 12, 2024 $0.44; Dec 23, 2024 $0.07; Mar 25, 2025 $0.17; Jun 24, 2025 $0.05; Sep 23, 2025 $0.05; Dec 23, 2025 $0.13; Mar 24, 2026 $0.06; Jun 23, 2026 $0.04. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 30, 2026$0.04
Mar 24, 2026Mar 31, 2026$0.06
Dec 23, 2025Dec 31, 2025$0.13
Sep 23, 2025Sep 30, 2025$0.05
Jun 24, 2025Jul 1, 2025$0.05
Mar 25, 2025Apr 1, 2025$0.17
Dec 23, 2024Dec 31, 2024$0.07
Dec 12, 2024Dec 19, 2024$0.44

AVS 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.
46.2%
Annualised · 22 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.
−1.20
vs 3-month T-bills · 22 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.
−75.7%
23 months · trough Jun 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.
−1.48
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.

AVS Cost

Expense ratio1.21%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

15 of the 43 Single-Stock Inverse funds charge less.

AVS costs $121.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.