Direxion Daily Small Cap Bull 3X ETF
$60.86−3.03 (−4.74%)
- Expense ratio
- 1.07%
- Fund size
- $1.2B
- 1Y return
- +37.0%
- Yield · Last 12 months
- 0.39%
- Holdings
- 13
- Volume · 30D
- 5M sh
- NAV per share
- $62.89
- 52W range
The ETF.net TNA Grade
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.DScore 27Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 55Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 76Category 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 63Category rank
Our read on TNA
CThe 3x pedal on small caps. Live since 2008, TNA aims to deliver 300% of the Russell 2000's move each day, resets every night, and trades with the kind of volume short-term traders live on.
The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the Russell 2000® Index. Its objective is daily and is not intended to deliver three times the index's cumulative return over periods longer than one day.
Why people hold it
- One ticket, 300% of the Russell 2000's daily move. No margin account, no options chain, no futures roll to manage.direxion.com
- A multi-billion-dollar fund and one of the busiest names on the leveraged shelf, which is why traders get in and out at tight spreads most of the day.
- Trading since November 2008, making it one of the longest-running triple-leveraged equity funds in the US market.direxion.com
- The 1.07% fee sits right at the going rate for 3x funds, and a shade under URTY, the other 3x Russell 2000 vehicle.
Worth knowing
- The 300% target is a one-day target. The fund resets nightly, so over a week or a year the math compounds and results can drift far from 3x the index.direxion.com
- Small caps are the twitchiest corner of US equities. Tripling that daily move cuts both ways, and choppy sideways markets are the unfriendliest terrain for a daily-reset fund.
- At 1.07% a year, the fee accrues every day you hold, whichever way small caps go. That is many times what a plain Russell 2000 index fund charges.
TNA Holdings
- Stocks
- 13
- 99%
- IWM
Sectors
- Health Care20.9%
- Financials18.1%
- Technology13.7%
- Industrials13.3%
- Consumer Discr.9.0%
- Real Estate6.5%
- Energy6.4%
- Materials4.5%
- Utilities2.7%
- Cons. Staples2.7%
- Communication2.3%
Geography
- United States100.00%
TNA 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 | TNA |
|---|---|
| Year to date | +40.6% |
| 1 month | −12.6% |
| 3 months | −13.2% |
| 1 year | +37.0% |
| 3 years | +32.2% |
| 5 years | −4.8% |
| 10 years | +5.0% |
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 | TNA |
|---|---|---|
| 2026 YTD | +40.6% | |
| 2025 | +9.8% | |
| 2024 | +7.2% | |
| 2023 | +26.2% | |
| 2022 | −62.5% | |
| 2021 | +27.9% | |
| 2020 | −7.8% |
TNA in the news
ETF.net Research hasn’t filed on TNA yet — coverage lands here as it’s written.
TNA Dividends
- 0.39%
- $0.25
- $0.04 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 22, 2026 | Pays Sep 29, 2026 | $0.04 |
| Jun 23, 2026 | Jun 30, 2026 | $0.09 |
| Mar 24, 2026 | Mar 31, 2026 | $0.02 |
| Dec 23, 2025 | Dec 31, 2025 | $0.03 |
| Sep 23, 2025 | Sep 30, 2025 | $0.07 |
| Jun 24, 2025 | Jul 1, 2025 | $0.15 |
| Mar 25, 2025 | Apr 1, 2025 | $0.10 |
| Dec 23, 2024 | Dec 31, 2024 | $0.18 |
| Sep 24, 2024 | Oct 1, 2024 | $0.03 |
| Jun 25, 2024 | Jul 2, 2024 | $0.15 |
| Mar 19, 2024 | Mar 26, 2024 | $0.03 |
| Dec 21, 2023 | Dec 29, 2023 | $0.22 |
TNA 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.
- 60.6%
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.
- 0.60
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.
- −82.4%
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.
- 3.84
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TNA Cost
- The middle half of 3x Leveraged Long funds
- Median 0.98%
20 of the 30 3x Leveraged Long funds charge less.