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Launched

Direxion Daily META Bear 1X ETF

METDNasdaqDirexionAThis 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.

$15.23+0.20 (+1.33%)

At close: Nov 2, 2026, 4:00 PM ET

A71/ 100

Rank 13 of 58 in Single-Stock Inverse

A71/100Rank 13 of 58inSingle-Stock Inverse
Intraday session: up, 79 prints from 15.03 to 15.23. Range 14.87 to 15.23. Use the arrow keys to read each point.14.9015.1010 AM12 PM2 PM4 PM
Expense ratio
1.02%*
Fund size
$9M
1Y total return
−5.3%
Yield · Last 12 months
2.40%
Holdings
4
Avg volume · 30D
761K sh
52W range
low $11.98high $19.54
Launched

*After a fee waiver that ends Sep 1, 2027. Without it: 1.19%.

The ETF.net METD Grade

Based on 5 of 6 pillars

A

Score 71 out of 100

Category
Single-Stock Inverse⁠
Rank
13 of 58
Six-pillar profile for METD. Scores out of 100: Cost 78, Risk 73, Mission 83, Tradability 41, Holdings not scored, Durability 62. Strongest: Mission (83). Weakest: Tradability (41). Based on 5 of 6 pillars.

Score 71 of 100 falls in the A 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.
    A78 out of 100
    Rank 10 of 58

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A83 out of 100
    Rank 29 of 32

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A73 out of 100
    Rank 7 of 54

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C41 out of 100
    Rank 38 of 58

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B62 out of 100
    Rank 17 of 58

Our read on METD

ETF.net Research

In short

AA one-for-one short on Meta, wrapped in an ETF. METD targets 100% of the inverse of Meta's daily move: no leverage multiplier, no margin account, and exposure that resets every day.

Stated mandate

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

Why people hold it

  • Bearish on Meta without the multiplier. The fund targets 100% of the inverse of Meta's daily move, bought and sold like any share, with no margin account or stock borrow to arrange.direxion.com
  • Fee is 1.02% net of a waiver through September 1, 2027 (1.19% gross), below the category median and a hair under sibling AVS at 1.03% net, also waived to that same date.
  • One of the stronger implementations in a crowded field of bearish single-stock funds, and it has stayed close to its stated daily target.

Worth knowing

  • Daily reset. Hold past a day and Meta's path matters as much as its direction: choppy stretches can grind value down even when the stock ends lower.direxion.com
  • A small fund by assets. It trades actively for its size, but spreads can matter more than the headline fee on bigger orders.
  • One company carries the whole thing. An earnings night or a single Meta headline moves this fund in full, and it pays out quarterly rather than monthly.

METD Performance

Launched Jun 5, 2024

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.Not enough history yet.Not enough history yet.
METD$9,468
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. METD $9,468. SPY $11,199. Use the arrow keys to read each point.$8,000$10,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 METD. Periods over one year show the average yearly return.
PeriodMETD
Year to date−3.8%
1 month+17.2%
3 months−12.6%
1 year−5.3%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 METD
YearReturn barMETD
2026 YTD−3.8%
2025−17.3%
2024−15.8%

Since listing, Jun 5, 2024

METD in the news

METD 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 Oct 30, 2026.
2.40%Last 12 months
Payout per share
$0.36Last 12 months
Last payment
$0.06 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. 10 payments from 2024 to 2026 YTD. Jun 25, 2024 $0.05; Sep 24, 2024 $0.18; Dec 23, 2024 $0.22; Mar 25, 2025 $0.17; Jun 24, 2025 $0.10; Sep 23, 2025 $0.13; Dec 23, 2025 $0.13; Mar 24, 2026 $0.07; Jun 23, 2026 $0.10; Sep 22, 2026 $0.06. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.06
Jun 23, 2026Jun 30, 2026$0.10
Mar 24, 2026Mar 31, 2026$0.07
Dec 23, 2025Dec 31, 2025$0.13
Sep 23, 2025Sep 30, 2025$0.13
Jun 24, 2025Jul 1, 2025$0.10
Mar 25, 2025Apr 1, 2025$0.17
Dec 23, 2024Dec 31, 2024$0.22
Sep 24, 2024Oct 1, 2024$0.18
Jun 25, 2024Jul 2, 2024$0.05

$10,000 in METD 1 year ago paid $222 in dividends.

METD Risk

Risk pillarA73 out of 100Rank 7 of 54 in Single-Stock Inverse

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.
34.3%
Annualised · 28 months to Oct 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.
−0.43
vs 3-month T-bills · 28 months to Oct 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.
−50.6%
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.
−1.52
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.

FMP measures it over up to five years of monthly returns.

METD Cost

Compare METD and SKHZ

Overpaying vs SKHZ, cheapest in Single-Stock Inverse

$4,530

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • METD 1.02%

    $19,012

  • SKHZ 0.75% Cheapest

    $14,482

$10,000
30 years

Cost over time

  • METD 1.02%
  • SKHZ 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530METD $19,012SKHZ $14,482

Year by year

YearMETDSKHZOverpaying
10$1,797$1,336$461
20$6,746$5,078$1,668
30$19,012$14,482$4,530
How the 1.02% is worked out

Full fee 1.19%− waiver 0.17%= you pay 1.02%

The waiver ends Sep 1, 2027. After that the fee is 1.19% unless Direxion renews it. Source: prospectus, Mar 2026.

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