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CSCS

GradeCNASDAQ Global Select

Direxion Daily CSCO Bear 1X ETF

Leveraged · Single-Stock Leveraged · Direxion · Inception 2025-06-25 · SEC filings

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.

$14.22+0.00 (+0.14%)

As of Sep 23, 2026, 2:37 PM EDT

History starts Jun 25, 2025.
Intraday session: flat, 15 prints from 14.22 to 14.22. Range 14.18 to 14.28. Use the arrow keys to read each point.$14.20$14.24$14.2810 AM12 PM2 PM4 PM
Expense ratio
2.99%
Fund size
$2M
1Y return
−41.7%
Yield · Last 12 months
Data unavailable
Holdings
4
Volume · 30D
0M sh
NAV per share
$13.86
52W range
low $12.08high $25.14

The ETF.net CSCS Grade

C

40/ 100

Rank 30 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for CSCS. Scores out of 100: Cost 0, Risk 52, Mission 99, Tradability 39, Holdings not scored, Durability 44. Strongest: Mission (99). Weakest: Cost (0). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned45This cap took−5Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 0
    Category rank58/58 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 99
    Category rank4/31 · top 13%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 52
    Category rank18/48 · top 38%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 39
    Category rank39/58 · mid-pack

  • 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 rank35/58 · mid-pack

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

Our read on CSCS

ETF.net Research

CA one-day bet against Cisco, no margin account required. CSCS aims to deliver 100% of the inverse of Cisco's daily move, a single-stock short wrapped in a share you can buy in any brokerage account. Built for days, not quarters.

Stated mandate

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

Why people hold it

  1. 01Shorting Cisco without the plumbing: no margin account, no shares to borrow, no recall risk. You buy a share, and the most at stake is what you paid for it.
  2. 02Unleveraged at -1x, so the daily reset math is gentler than the 2x inverse crowd (MSTZ, TSDD) that dominates this corner of the market.
  3. 03Since its 2025 launch it has tracked its stated daily inverse target closely. The machinery does what the prospectus says it will.

Worth knowing

  1. 01The 2.99% expense ratio sits at the top end of single-stock inverse funds, well above the typical fee among its bear-fund peers, and it accrues every day you hold.
  2. 02Daily reset: hold longer than a day and results can drift from the inverse of Cisco's move over that stretch, with choppy markets doing the most damage.
  3. 03A small, thinly traded fund, so bid-ask spreads can run wider than in the household-name single-stock inverse products.

CSCS Holdings

As of Sep 22, 2026, 10:03 PM
Asset class
Other
Holdings
4
Top-10 weight
1498%
Largest holding
DREYFUS GOVT CASH MAN INS749.9%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—DREYFUS GOVT CASH MAN INS749.89%1,103,924$1M108
002—GOLDMAN FINL SQ TRSRY INST 506365.39%537,892$538K100
003—DREYFUS TRSRY SECURITIES CASH MGMT205.71%302,837$303K82
004—GOLDMAN SACHS FIN GOV 465 INSTITUT176.62%260,000$260K75

Showing 1–4 of 4 holdings

CSCS Performance

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

CSCS$5,833
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. CSCS $5,833. SPY $11,723. Use the arrow keys to read each point.$4,391$8,350$12,308Sep 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 CSCS. Periods over one year show the average yearly return.
PeriodCSCS
Year to date−33.6%
1 month+3.4%
3 months+10.9%
1 year−41.7%
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 CSCS
YearReturn barCSCS
2026 YTD−33.6%
2025−11.2%

Since listing, Jun 25, 2025

CSCS in the news

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

CSCS 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.11 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 4 payments from 2025 to 2026 YTD. Sep 23, 2025 $0.23; Dec 23, 2025 $0.15; Mar 24, 2026 $0.13; Jun 23, 2026 $0.11. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 30, 2026$0.11
Mar 24, 2026Mar 31, 2026$0.13
Dec 23, 2025Dec 31, 2025$0.15
Sep 23, 2025Sep 30, 2025$0.23

CSCS 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.
28.2%
Annualised · 14 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.
−1.59
vs 3-month T-bills · 14 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.
−51.6%
14 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.
−1.39
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.

CSCS Cost

Expense ratio2.99%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

Every other Single-Stock Inverse fund charges less.

CSCS costs $299.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.