Direxion Daily MSFT Bear 1X ETF
AThis 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.
The ETF.net MSFD Grade
A
Score 77 out of 100
- 8 of 58
Score 77 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 100Rank 10 of 58Mission
Whether the fund did what it promised, tested against its stated mandate.A99 out of 100Rank 3 of 32Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A82 out of 100Rank 2 of 54Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C41 out of 100Rank 38 of 58Holdings
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.B66 out of 100Rank 14 of 58
Our read on MSFD
In short
AStraight inverse Microsoft, with no leverage stacked on top: MSFD targets -100% of MSFT's daily move. One of Direxion's original 2022 single-stock funds, and a buy-side way to express a bearish view.
Stated mandate
The fund seeks daily investment results, before fees and expenses, that correspond to the inverse performance of Microsoft Corporation's common shares.
Why people hold it
Worth knowing
MSFD Holdings
- Other
- 3
- 12980%
- Dreyfus Govt Cash Man Ins
MSFD 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.Not enough history yet.
MSFD$9,383
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.
| Period | MSFD |
|---|---|
| Year to date | −12.5% |
| 1 month | −1.4% |
| 3 months | −11.0% |
| 1 year | −6.2% |
| 3 years | −14.2% |
| 5 years | |
| 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 | MSFD |
|---|---|---|
| 2026 YTD | −12.5% | |
| 2025 | −13.4% | |
| 2024 | −7.8% | |
| 2023 | −35.9% | |
| 2022 | +3.9% |
MSFD in the news
MSFD Dividends
- 4.24%
- $0.42
- $0.08 per share
- Quarterly
MSFD 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.
- 27.6%
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.
- −0.57
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.
- −62.1%
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.
- −1.16
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.
MSFD Cost
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.
MSFD 1.02%
$19,012
SKHZ 0.75% Cheapest
$14,482
Cost over time
Year by year
| Year | MSFD | SKHZ | Overpaying |
|---|---|---|---|
| 10 | $1,797 | $1,336 | $461 |
| 20 | $6,746 | $5,078 | $1,668 |
| 30 | $19,012 | $14,482 | $4,530 |
You pay 1.02%Waived by Direxion 0.14%
Full fee 1.16% waiver 0.14% you pay 1.02%
Other funds in Single-Stock Inverse
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- AGGLSDirexion Daily GOOGL Bear 1X ETFExpense ratio 1.02%1 year return −5.6%
- ATSLQTradr 2X Short TSLA Daily ETFExpense ratio 1.15%1 year return −22.7%
- ANVDDDirexion Daily NVDA Bear 1X ETFExpense ratio 1.01%1 year return −7.1%
- AORCSDirexion Daily ORCL Bear 1X ETFExpense ratio 0.97%1 year return
