Skip to content
etf.net

DRIP

GradeCNew York Stock Exchange Arca

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF

Leveraged · Leveraged & Inverse · Direxion · Inception 2015-05-28 · 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.

$36.04−0.54 (−1.48%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 59 prints from 36.58 to 36.04. Range 35.24 to 36.34. Use the arrow keys to read each point.$35.25$35.50$35.75$36.2510 AM12 PM2 PM4 PM
Expense ratio
1.03%
Fund size
$123M
1Y return
−57.7%
Yield · Last 12 months
5.01%
Holdings
9
Volume · 30D
2.1M sh
NAV per share
$33.11
52W range
low $30.52high $99.00

The ETF.net DRIP Grade

C

47/ 100

Rank 4 of 5 in Inverse Energy⁠

Confidence Low

Six-pillar profile for DRIP. Scores out of 100: Cost 43, Risk 45, Mission not scored, Tradability 57, Holdings not scored, Durability 52. Strongest: Tradability (57). Weakest: Cost (43). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 of 100 sits in the C 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.
    CScore 43
    Category rank3/5 · mid-pack

  • 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.
    CScore 45
    Category rank3/5 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 57
    Category rank3/5 · 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 52
    Category rank3/5 · mid-pack

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

Our read on DRIP

ETF.net Research

CThe short bet on the drillers, not the barrel. DRIP aims for 200% of the inverse daily move of an S&P index of oil and gas exploration and production stocks, reset every single session.

Stated mandate

The fund seeks daily investment results equal to 200% of the inverse performance of the S&P Oil & Gas Exploration & Production Select Industry Index, before fees and expenses.

Why people hold it

  1. 01Shorts E&P equities rather than crude futures. Cohort rivals SCO and KOLD track commodity contracts; DRIP's reference is a stock index of explorers and producers.direxion.com
  2. 02The mandate is unambiguous: one index, one multiple (-2x), one day. No manager discretion, no stock picking, nothing to interpret.
  3. 03A 1.03% fee lands right at the middle of its leveraged energy bear group, and well under the priciest name in it, DUG.
  4. 04Trading since 2015 and actively traded, which matters for a fund designed to be held in short stretches.

Worth knowing

  1. 01The -2x target applies to a single day. Hold longer and compounding pulls results away from twice the index's inverse move, especially through choppy stretches.direxion.com
  2. 02Cheaper shorts exist nearby: SCO and KOLD both run 0.95%, though they track commodity futures instead of E&P shares.
  3. 03Inside its small bear-energy cohort, DRIP sits in the lower half of our overall read, with cost and volatility the sticking points.

DRIP Holdings

As of Sep 22, 2026, 10:02 PM
Asset class
Other
Holdings
9
Top-10 weight
214%
Largest holding
SPSIOP SWAP ASSET LEG (SPSIOPMLS)71.9%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPSIOP SWAP ASSET LEG (SPSIOPMLS)71.86%-12,503$-89M1
002—SPSIOP SWAP ASSET LEG (SPSIOPJPS)47.43%-8,253$-59M1
003—SPSIOP SWAP ASSET LEG (SPSIOPGSS)45.98%-8,000$-57M1
004—SPSIOP SWAP ASSET LEG (SPSIOPCTS)40.23%-7,000$-50M1
005—SPSIOP SWAP ASSET LEG (SPSIOPUBS)8.75%-1,523$-11M1

Showing 1–5 of 5 holdings

DRIP Performance

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

DRIP$4,227
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. DRIP $4,227. SPY $11,723. Use the arrow keys to read each point.$2,888$7,654$12,419Sep 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 DRIP. Periods over one year show the average yearly return.
PeriodDRIP
Year to date−58.7%
1 month+7.0%
3 months−30.4%
1 year−57.7%
3 years−27.6%per year
5 years−43.8%per year
10 years−41.8%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 DRIP
YearReturn barDRIP
2026 YTD−58.7%
2025−14.8%
2024+1.3%
2023−17.1%
2022−73.6%
2021−79.7%
2020−42.8%

DRIP in the news

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

DRIP 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.
5.01%Last 12 months
Payout per share
$1.83Last 12 months
Upcoming payment
$0.27 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2018–2026

One bar per payment. 23 payments from 2018 to 2026 YTD. Mar 20, 2018 $7.73; Jun 19, 2018 $3.09; Sep 25, 2018 $6.68; Dec 27, 2018 $25.11; Mar 19, 2019 $15.02; Sep 24, 2019 $26.87; Dec 23, 2019 $2.71; Dec 22, 2020 $0.28; Mar 21, 2023 $2.70; Jun 21, 2023 $1.22; Sep 19, 2023 $0.93; Dec 21, 2023 $0.89; Mar 19, 2024 $1.77; Jun 25, 2024 $1.43; Sep 24, 2024 $1.24; Dec 23, 2024 $0.34; Mar 25, 2025 $1.11; Jun 24, 2025 $0.56; Sep 23, 2025 $0.60; Dec 23, 2025 $0.31; Mar 24, 2026 $0.28; Jun 23, 2026 $0.37; Sep 22, 2026 $0.27. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Pays Sep 29, 2026$0.27
Jun 23, 2026Jun 30, 2026$0.37
Mar 24, 2026Mar 31, 2026$0.28
Dec 23, 2025Dec 31, 2025$0.31
Sep 23, 2025Sep 30, 2025$0.60
Jun 24, 2025Jul 1, 2025$0.56
Mar 25, 2025Apr 1, 2025$1.11
Dec 23, 2024Dec 31, 2024$0.34
Sep 24, 2024Oct 1, 2024$1.24
Jun 25, 2024Jul 2, 2024$1.43
Mar 19, 2024Mar 26, 2024$1.77
Dec 21, 2023Dec 29, 2023$0.89

DRIP 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.
43.9%
Annualised · 36 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.
−0.60
vs 3-month T-bills · 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.
−95.3%
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.
−0.08
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.

DRIP Cost

Expense ratio1.03%
  • The middle half of Inverse Energy funds
  • Median 1.03%

2 of the 5 Inverse Energy funds charge less.

DRIP costs $103.00 a year on $10,000. The median Inverse Energy fund costs $103.00.