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Direxion Daily Semiconductors Top 5 Bear 2X ETF

TSXDNYSE ArcaDirexionDThis 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.

$6.27+0.28 (+4.67%)

As of Nov 2, 2026, 3:59 PM ET

D34/ 100

Rank 52 of 54 in Leveraged Inverse (2x & Other)

D34/100Rank 52 of 54inLeveraged Inverse (2x & Other)
Intraday session: up, 79 prints from 5.99 to 6.27. Range 5.77 to 6.28. Use the arrow keys to read each point.5.805.906.106.2010 AM12 PM2 PM4 PM
Expense ratio
0.99%*
Fund size
$1M
1Y total return
−63.4%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
56.2K sh
52W range
low $4.32high $22.65
Launched

*After a fee waiver that ends Sep 1, 2027. Without it: 9.79%.

The ETF.net TSXD Grade

Based on 4 of 6 pillars

D

Score 34 out of 100

Category
Leveraged Inverse (2x & Other)⁠
Rank
52 of 54
Six-pillar profile for TSXD. Scores out of 100: Cost 50, Risk 14, Mission not scored, Tradability 30, Holdings not scored, Durability 15. Strongest: Cost (50). Weakest: Risk (14). Based on 4 of 6 pillars.

Score 34 of 100 falls in the D 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
34
This cap took
0
Published Score
34 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C50 out of 100
    Rank 1 of 54

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F14 out of 100
    Rank 52 of 53

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D30 out of 100
    Rank 41 of 54

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F15 out of 100
    Rank 53 of 54

Our read on TSXD

ETF.net Research

In short

DThe inverse half of Direxion's Titans line: TSXD aims for -200% of the daily move in an equal-weight basket of the five biggest semiconductor names. Narrower than shorting the whole sector, broader than betting against one chip stock.

Stated mandate

The fund seeks daily investment results equal to -200% of the performance of the NYSE Semiconductor Top 5 Equal Weight Index, before fees and expenses. Its objective applies for a single day.

Why people hold it

  • Targets -200% of the daily move in five chip giants, equal weighted and rebalanced quarterly: a narrower instrument than a 30-stock sector short.direxion.com
  • 0.99% net of a waiver through September 1, 2027 sits near the category median, close to inverse staples like PSQ (0.95% net of a waiver through September 30, 2027).
  • Equal weighting holds any one name to roughly a fifth of the basket at each quarterly reset, so a single chip stock's earnings night matters less than in a single-stock inverse fund.direxion.comdirexion.com 2

Worth knowing

  • Daily reset: hold longer than a day and results compound, so they can diverge widely from -2x the index's move over that stretch, especially in choppy markets.direxion.com
  • That 0.99% rests on a waiver through September 1, 2027. The gross expense ratio is 9.79%, so the contractual cost without the waiver is far higher.
  • Launched October 2025 and still a small, moderately traded fund, which can mean wider bid/ask spreads than the long-running broad inverse ETFs.

TSXD Performance

Launched Oct 1, 2025

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.
TSXD$3,659
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TSXD $3,659. SPY $11,199. Use the arrow keys to read each point.$5,000$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 TSXD. Periods over one year show the average yearly return.
PeriodTSXD
Year to date−66.4%
1 month+27.2%
3 months+1.2%
1 year−63.4%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 TSXD
YearReturn barTSXD
2026 YTD−66.4%
2025−22.9%

Since listing, Oct 1, 2025

TSXD in the news

TSXD Dividends

Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 4 payments from 2025 to 2026 YTD. Dec 23, 2025 $0.19; Mar 24, 2026 $0.08; Jun 23, 2026 $0.05; Sep 22, 2026 $0.06. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.06
Jun 23, 2026Jun 30, 2026$0.05
Mar 24, 2026Mar 31, 2026$0.08
Dec 23, 2025Dec 31, 2025$0.19

$10,000 in TSXD 1 year ago paid $220 in dividends.

TSXD Risk

Risk pillarF14 out of 100Rank 52 of 53 in Leveraged Inverse (2x & Other)

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.
74.1%
Annualised · 12 months to Oct 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.
−0.97
vs 3-month T-bills · 12 months to Oct 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.
−81.1%
12 months · trough Oct 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.
−3.62
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.

FMP measures it over up to five years of monthly returns.

TSXD Cost

Compare TSXD and QQQD

Overpaying vs QQQD, cheapest in Leveraged Inverse (2x & Other)

$8,546

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TSXD 0.99%

    $18,525

  • QQQD 0.50% Cheapest

    $9,979

$10,000
30 years

Cost over time

  • TSXD 0.99%
  • QQQD 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TSXD $18,525QQQD $9,979

Year by year

YearTSXDQQQDOverpaying
10$1,746$900$846
20$6,565$3,460$3,105
30$18,525$9,979$8,546
How the 0.99% is worked out

Full fee 9.79%− waiver 8.80%= you pay 0.99%

The waiver ends Sep 1, 2027. After that the fee is 9.79% unless Direxion renews it. Source: prospectus, Mar 2026.

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