Direxion Daily TSM Bear 1X ETF
$7.32+0.09 (+1.24%)
- Expense ratio
- 1.47%
- Fund size
- $3M
- 1Y return
- −46.2%
- Yield · Last 12 months
- 5.94%
- Volume · 30D
- 0.1M sh
- NAV per share
- $7.67
- 52W range
The ETF.net TSMZ Grade
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.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 47Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 98Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 50Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 33Category 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.CScore 48Category rank
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
- —
- 658%
- 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.
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 | TSMZ |
|---|---|
| Year to date | −38.8% |
| 1 month | −7.8% |
| 3 months | +0.2% |
| 1 year | −46.2% |
| 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 | −38.8% | |
| 2025 | −41.9% | |
| 2024 | −11.2% |
TSMZ in the news
ETF.net Research hasn’t filed on TSMZ yet — coverage lands here as it’s written.
TSMZ Dividends
- 5.94%
- $0.43
- $0.07 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 22, 2026 | Pays Sep 29, 2026 | $0.07 |
| Jun 23, 2026 | Jun 30, 2026 | $0.06 |
| Mar 24, 2026 | Mar 31, 2026 | $0.08 |
| Dec 23, 2025 | Dec 31, 2025 | $0.11 |
| Sep 23, 2025 | Sep 30, 2025 | $0.11 |
| Jun 24, 2025 | Jul 1, 2025 | $0.12 |
| Mar 25, 2025 | Apr 1, 2025 | $0.25 |
| Dec 23, 2024 | Dec 31, 2024 | $0.19 |
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.
- 33.9%
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.
- −1.52
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.
- −74.0%
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.
- −1.30
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
- The middle half of Single-Stock Inverse funds
- Median 1.35%
26 of the 43 Single-Stock Inverse funds charge less.