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PALD

GradeCNASDAQ Global Select

Direxion Daily PANW Bear 1X ETF

Leveraged · Single-Stock Leveraged · Direxion · Inception 2025-03-26 · 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.

$9.52−0.36 (−3.68%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Mar 26, 2025.
Intraday session: down, 38 prints from 9.88 to 9.52. Range 9.51 to 9.82. Use the arrow keys to read each point.$9.60$9.70$9.8010 AM12 PM2 PM4 PM
Expense ratio
2.33%
Fund size
$3M
1Y return
−52.8%
Yield · Last 12 months
7.27%
Holdings
3
Volume · 30D
0.1M sh
NAV per share
$9.97
52W range
low $9.77high $30.87

The ETF.net PALD Grade

C

40/ 100

Rank 33 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for PALD. Scores out of 100: Cost 4, Risk 48, Mission 91, Tradability 32, Holdings not scored, Durability 49. Strongest: Mission (91). Weakest: Cost (4). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned43This cap took−3Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 4
    Category rank56/58 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 91
    Category rank17/31 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 48
    Category rank26/48 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 32
    Category rank43/58 · 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 49
    Category rank30/58 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on PALD

ETF.net Research

CA one-for-one inverse bet on Palo Alto Networks, wrapped in an ordinary ETF. No margin account, no borrowing shares, no leverage stacked on top: just -1x PANW, reset every day.

Stated mandate

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

Why people hold it

  1. 01Takes the bearish side of a single stock without a margin account or locating shares to borrow. You buy it like any ETF, and your exposure is limited to what you put in.direxion.com
  2. 02Straight -1x, not 2x or 3x. In a cohort thick with double-levered inverse products, this is the least amplified version of the trade.
  3. 03Hits what it advertises: day-to-day results track the stated -1x target of Palo Alto Networks closely.

Worth knowing

  1. 01The exposure resets every day. Hold longer and compounding takes over, so results over a stretch can drift well away from -1x the stock's move.direxion.com
  2. 02The 2.33% expense ratio runs well above what most single-stock inverse funds charge, and it applies whichever way the stock goes.
  3. 03Launched in 2025 and still small and thinly traded, so spreads can be wider than on the household-name single-stock funds.

PALD Holdings

As of Sep 22, 2026, 10:03 PM
Asset class
Other
Holdings
3
Top-10 weight
945%
Largest holding
DREYFUS GOVT CASH MAN INS489.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—DREYFUS GOVT CASH MAN INS489.56%1,747,026$2M108
002—GOLDMAN FINL SQ TRSRY INST 506282.45%1,007,955$1M100
003—GOLDMAN SACHS FIN GOV 465 INSTITUT92.47%330,000$330K75
004—DREYFUS TRSRY SECURITIES CASH MGMT80.69%287,964$288K82

Showing 1–4 of 4 holdings

PALD Performance

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

PALD$4,724
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. PALD $4,724. SPY $11,723. Use the arrow keys to read each point.$3,935$9,403$14,871Sep 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 PALD. Periods over one year show the average yearly return.
PeriodPALD
Year to date−58.0%
1 month−8.7%
3 months−29.5%
1 year−52.8%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—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 PALD
YearReturn barPALD
2026 YTD−58.0%
2025−3.9%

Since listing, Mar 26, 2025

PALD in the news

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

PALD 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.
7.27%Last 12 months
Payout per share
$0.72Last 12 months
Upcoming payment
$0.10 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2025–2026

One bar per payment. 5 payments from 2025 to 2026 YTD. Jun 24, 2025 $0.20; Sep 23, 2025 $0.19; Dec 23, 2025 $0.40; Jun 23, 2026 $0.04; Sep 22, 2026 $0.10. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Pays Sep 29, 2026$0.10
Jun 23, 2026Jun 30, 2026$0.04
Dec 23, 2025Dec 31, 2025$0.40
Sep 23, 2025Sep 30, 2025$0.19
Jun 24, 2025Jul 1, 2025$0.20

PALD 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.
47.9%
Annualised · 17 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.
−1.23
vs 3-month T-bills · 17 months 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.
−67.4%
17 months · trough Aug 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.
−1.08
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.

PALD Cost

Expense ratio2.33%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

40 of the 43 Single-Stock Inverse funds charge less.

PALD costs $233.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.