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TTXD

GradeFNew York Stock Exchange Arca

Direxion Daily Technology Top 5 Bear 2X ETF

Leveraged · Leveraged & Inverse · Direxion · Inception 2025-10-01

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.

$11.96+0.37 (+3.20%)

As of Sep 23, 2026, 1:34 PM EDT

History starts Oct 1, 2025.History starts Oct 1, 2025.
Intraday session: up, 12 prints from 11.59 to 11.96. Range 11.59 to 11.96. Use the arrow keys to read each point.$11.60$11.70$11.80$11.9010 AM12 PM2 PM4 PM
Expense ratio
8.36%
Fund size
$1M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$12.86
52W range
low $11.59high $42.32

The ETF.net TTXD Grade

F

13/ 100

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

Confidence Medium

Six-pillar profile for TTXD. Scores out of 100: Cost 5, Risk 27, Mission not scored, Tradability 18, Holdings not scored, Durability 11. Strongest: Risk (27). Weakest: Cost (5). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 13 of 100 sits in the F 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 earned13This cap took−0Published score13 Grade F

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 5
    Category rank52/54 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 27
    Category rank45/53 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 18
    Category rank51/54 · bottom quartile

  • 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.
    FScore 11
    Category rank54/54 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on TTXD

ETF.net Research

FMost bear funds short a whole index. TTXD aims for 200% of the inverse of the daily move of just the five biggest S&P 500 tech names: a doubled, one-day bet against megacap tech leadership, rebuilt every morning.

Stated mandate

The fund seeks daily investment results equal to 200% of the inverse performance of the S&P 500 Information Technology (Sector) Top 5 Equal Capped Index.

Why people hold it

  1. 01Surgical, not sector-wide: the target is 200% of the inverse of the daily move in an index of the S&P 500's five largest tech names, not the full tech sector.direxion.com
  2. 02Inverse exposure in a normal brokerage account: no margin, no stock borrow, no short-sale mechanics. It trades like any share, and your loss is capped at what you put in.direxion.com
  3. 03One job, stated plainly: a fixed -2x daily target against a named, published index (SPXTT5UP). No manager discretion to second-guess.direxion.com

Worth knowing

  1. 01Fees are the headline trade-off: an 8.36% expense ratio, many times what large leveraged bear funds such as PSQ (1.00%) charge, accruing daily.
  2. 02The daily reset compounds. Hold past one day, especially through choppy markets, and results can diverge widely from -2x the index's move over that stretch.direxion.com
  3. 03Launched October 2025, it remains a small, lightly traded fund. Small funds tend to carry wider bid-ask spreads and a real chance of being closed down.

TTXD Holdings

As of Sep 22, 2026, 10:03 PM
Asset class
Other
Holdings
—
Top-10 weight
264%
Largest holding
SPXTT5UP SWAP ASSET LEG (SPXTT5BCS)126.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPXTT5UP SWAP ASSET LEG (SPXTT5BCS)126.51%-57$-869K1
002—SPXTT5UP SWAP ASSET LEG (SPXTT5MLS)71.03%-32$-488K1
003—SPXTT5UP SWAP ASSET LEG (SPXTT5CTS)66.59%-30$-457K1

Showing 1–3 of 3 holdings

TTXD Performance

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

TTXD$4,345
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. TTXD $4,345. SPY $11,430. Use the arrow keys to read each point.$3,470$9,812$16,153Dec 2025May 2026Sep 2026

Dec 31, 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 TTXD. Periods over one year show the average yearly return.
PeriodTTXD
Year to date−56.5%
1 month−11.7%
3 months−15.5%
1 yearFund is under 1 year old—
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 TTXD
YearReturn barTTXD
2026 YTD−56.5%
2025+13.7%

Since listing, Oct 1, 2025

TTXD in the news

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

TTXD 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Upcoming payment
$0.24 per share
Pays 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. 5 payments from 2025 to 2026 YTD. Dec 10, 2025 $0.04; Dec 23, 2025 $0.18; Mar 24, 2026 $0.16; Jun 23, 2026 $0.16; Sep 22, 2026 $0.24. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Pays Sep 29, 2026$0.24
Jun 23, 2026Jun 30, 2026$0.16
Mar 24, 2026Mar 31, 2026$0.16
Dec 23, 2025Dec 31, 2025$0.18
Dec 10, 2025Dec 17, 2025$0.04

TTXD 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.
—
Launched Oct 2025; fills in after 12 months
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.
—
Launched Oct 2025; fills in after 12 months
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.
—
Launched Oct 2025; fills in after 12 months
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.
−3.77
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.

TTXD Cost

Expense ratio8.36%
  • The middle half of Leveraged Inverse (2x & Other) funds
  • Median 1.44%

49 of the 53 Leveraged Inverse (2x & Other) funds charge less.

TTXD costs $836.00 a year on $10,000. The median Leveraged Inverse (2x & Other) fund costs $144.00.