Direxion Daily TSM Bear 1X ETF
CThis 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.
$7.340.00 (−0.05%)
- 1.47%
- $3M
- −43.3%
- 4.30%
- 0.1M sh
- $7.21
- low $6.71high $13.93
The ETF.net TSMZ Grade
C
Score 40 out of 100
- 31 of 58
Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 61
- This cap took
- −21
- Published Score
- 40
Cost
The fund’s net expense ratio, ranked against its category.C47 out of 100Rank 31 of 58Mission
Whether the fund did what it promised, tested against its stated mandate.A98 out of 100Rank 6 of 32Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B55 out of 100Rank 17 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D39 out of 100Rank 36 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.C49 out of 100Rank 29 of 58
Our read on TSMZ
CA straight short on Taiwan Semiconductor without a margin account. TSMZ aims to deliver 100% of the inverse of TSM's daily move, no leverage stacked on top, reset every single day.
The fund seeks daily investment results equal to 100% of the inverse performance of Taiwan Semiconductor Manufacturing Co Ltd common shares, before fees and expenses.
Why people hold it
- Plain vanilla inverse: -1x the stock's daily move, not 2x or 3x. No margin account, no locating shares to borrow, just a ticker you buy like any other.direxion.com
- It hits the mark it aims at: day-to-day results have tracked the stated inverse objective closely, which is the entire job of a daily-reset fund.
- Most single-stock bear funds point at US mega-caps like TSLA, AAPL and MSFT. This one targets the US-listed shares of a Taiwan-based chip foundry, a thinly covered corner.
Worth knowing
- The daily reset compounds. Hold past one day and results can drift from -1x, and a choppy, direction-free tape grinds at the position either way.direxion.com
- At 1.47% a year, it charges more than several 1x bear siblings, including Direxion's own TSLS and AAPD.
- A small fund next to the big single-stock bears, and only moderately traded, which can widen the gap between what you pay and what you get.
TSMZ Holdings
- Other
- 3
- 717%
- Dreyfus Govt Cash Man Ins
TSMZ 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.Not enough history yet.
TSMZ$5,669
Returns run to the Oct 12, 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 | TSMZ |
|---|---|
| Year to date | −37.9% |
| 1 month | −3.1% |
| 3 months | −4.0% |
| 1 year | −43.3% |
| 3 years | — |
| 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 | TSMZ |
|---|---|---|
| 2026 YTD | −37.9% | |
| 2025 | −41.9% | |
| 2024 | −11.2% |
TSMZ in the news
TSMZ Dividends
- 4.30%
- $0.32
- $0.07 per share
- Quarterly
Distribution history
TSMZ 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.
- 33.3%
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.
- −1.63
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.
- −75.1%
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.
- −1.25
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TSMZ Cost
1.47%
TSMZ1.47%
- The middle half of Single-Stock Inverse funds
- Median 1.35%
26 of the 43 Single-Stock Inverse funds charge less.
Other funds in Single-Stock Inverse
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- CSMCZDaily Target 2X Short SMCI ETFExpense ratio 1.55%1 year return −90.3%
- DCORDETF Opportunities Trust - T-Rex 2x Inverse CRWV Daily Target ETFExpense ratio 1.50%1 year return −82.6%
- DSKDDGraniteShares 2x Short SK Hynix Daily ETFExpense ratio 2.20%1 year return —
- DNBIZTradr 2X Short NBIS Daily ETFExpense ratio 1.49%1 year return —