Direxion Daily Aerospace & Defense Bull 3X Shares
BThis 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.
$44.72−1.39 (−3.01%)
- 0.96%
- $293M
- −22.0%
- 12.19%
- 0.2M sh
- $46.49
- low $42.80high $97.75
The ETF.net DFEN Grade
B
Score 59 out of 100
- 9 of 31
Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A73 out of 100Rank 6 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C46 out of 100Rank 17 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C53 out of 100Rank 16 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C44 out of 100Rank 18 of 31
Our read on DFEN
BMost 3x bull funds ride broad benchmarks: the Dow, the Nasdaq, big banks. DFEN aims the same 300%-of-one-day machinery at a single industry, US aerospace and defense contractors. A day-trader's tool, reset every close.
The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the Dow Jones U.S. Select Aerospace & Defense Index. The target applies for a single day, not as a promise of three times the index's cumulative return over longer periods.
Why people hold it
- Industry-level leverage. Where cohort leaders like UDOW, QLD and FAS track broad markets or financials, DFEN targets one slice: the Dow Jones U.S. Select Aerospace & Defense Index.direxion.com
- 0.96% expense ratio, under the median for leveraged bull funds. Not cheap in absolute terms, but priced below the middle of a pricey category.
- The contract is spelled out: 300% of one day's index move, before fees, across roughly 40 defense and aerospace names. No discretion, no stock picking.direxion.com
- Live since 2017, and one of the stronger builds in a crowded leveraged-bull field on cost and trading friction.
Worth knowing
- The 3x target applies to a single day and resets at the close. Hold longer and choppy markets can pull results away from three times the index's move.
- Concentration on top of leverage: about 40 stocks in one industry, tripled daily. Defense headlines and budget news land hard here.
- Moderately traded rather than a headline-volume name, so spreads deserve a look before you place an order.
DFEN Holdings
- Stocks
- 61
- 86%
- Djsasd Swap Asset Leg (Djsasdctl)
Sectors
- Industrials98.4%
- Materials1.6%
Geography
- United States99.94%
- Puerto Rico0.06%
DFEN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
DFEN$7,803
Returns run to the Oct 12, 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.
| Period | DFEN |
|---|---|
| Year to date | −27.7% |
| 1 month | −17.8% |
| 3 months | −39.4% |
| 1 year | −22.0% |
| 3 years | +53.7% |
| 5 years | +21.6% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | DFEN |
|---|---|---|
| 2026 YTD | −27.7% | |
| 2025 | +155.9% | |
| 2024 | +27.6% | |
| 2023 | +24.7% | |
| 2022 | +7.0% | |
| 2021 | +12.8% | |
| 2020 | −70.3% |
DFEN in the news
DFEN Dividends
- 12.19%
- $5.62
- $0.01 per share
- Quarterly
Distribution history
DFEN 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.
- 56.5%
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.
- 1.02
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.
- −54.3%
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.
- 2.68
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
DFEN Cost
0.96%
DFEN0.96%
- The middle half of 3x Leveraged Long funds
- Median 0.98%
6 of the 30 3x Leveraged Long funds charge less.
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