Direxion Daily MSFT Bear 1X ETF
$10.23−0.04 (−0.36%)
- Expense ratio
- 1.16%
- Fund size
- $10M
- 1Y return
- −2.2%
- Yield · Last 12 months
- 5.09%
- Holdings
- 7
- Volume · 30D
- 1.6M sh
- NAV per share
- $10.35
- 52W range
The ETF.net MSFD Grade
Score 76 of 100 sits in the A 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.AScore 79Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 93Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 79Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 48Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 66Category rank
Our read on MSFD
AShorting Microsoft the old way means a margin account and borrowed shares. MSFD compresses that into one ticker, aiming to mirror the inverse of MSFT's daily move with no leverage stacked on top.
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
- A mirror, not an amplifier. The fund targets -1x Microsoft's daily move, so the daily math is the plain opposite rather than a doubled one.
- Short exposure arrives as an ordinary ETF share bought in a regular brokerage account, not as a short sale you have to open and maintain.
- It has tracked its stated daily inverse target tightly, which puts it among the stronger implementations in the inverse single-stock group.
- The 1.16% annual fee runs below the typical inverse single-stock fund, though bear funds on other names charge less (AAPD 0.96%, TSLS 0.95%).
Worth knowing
- The -1x target resets every day. Hold longer and choppy trading can pull your result away from the inverse of Microsoft's move over that stretch.
- One stock drives everything. There is no diversification here, only Microsoft's daily direction, flipped.
- It is one of the smaller funds in its category, so bid-ask spreads can run wider than on the headline bear tickers.
MSFD Holdings
- Other
- 7
- 1678%
- 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.
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.
| Period | MSFD |
|---|---|
| Year to date | −8.5% |
| 1 month | −2.8% |
| 3 months | −28.6% |
| 1 year | −2.2% |
| 3 years | −14.7% |
| 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 | −8.5% | |
| 2025 | −13.4% | |
| 2024 | −7.8% | |
| 2023 | −35.9% | |
| 2022 | +3.9% |
MSFD in the news
ETF.net Research hasn’t filed on MSFD yet — coverage lands here as it’s written.
MSFD Dividends
- 5.09%
- $0.52
- $0.08 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 22, 2026 | Pays Sep 29, 2026 | $0.08 |
| Jun 23, 2026 | Jun 30, 2026 | $0.18 |
| Mar 24, 2026 | Mar 31, 2026 | $0.08 |
| Dec 23, 2025 | Dec 31, 2025 | $0.08 |
| Sep 23, 2025 | Sep 30, 2025 | $0.11 |
| Jun 24, 2025 | Jul 1, 2025 | $0.09 |
| Mar 25, 2025 | Apr 1, 2025 | $0.11 |
| Dec 23, 2024 | Dec 31, 2024 | $0.15 |
| Sep 24, 2024 | Oct 1, 2024 | $0.11 |
| Jun 25, 2024 | Jul 2, 2024 | $0.22 |
| Mar 19, 2024 | Mar 26, 2024 | $0.13 |
| Dec 21, 2023 | Dec 29, 2023 | $0.17 |
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.
- 27.9%
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.
- −60.0%
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.
MSFD Cost
- The middle half of Single-Stock Inverse funds
- Median 1.35%
12 of the 43 Single-Stock Inverse funds charge less.