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Launched

Direxion Daily Silver Bull 2X ETF

USLVNYSE 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.

$9.25+0.43 (+4.88%)

At close: Nov 2, 2026, 4:00 PM ET

D25/ 100

Rank 89 of 99 in Leveraged Long (2x & Other)

D25/100Rank 89 of 99inLeveraged Long (2x & Other)
Intraday session: up, 79 prints from 8.82 to 9.25. Range 9.22 to 9.45. Use the arrow keys to read each point.8.909.009.109.4010 AM12 PM2 PM4 PM
Expense ratio
1.10%*
Fund size
$13M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
7
Avg volume · 30D
153K sh
52W range
low $8.65high $24.49
Launched

*After a fee waiver that ends Sep 1, 2027. Without it: 1.12%.

The ETF.net USLV Grade

Based on 4 of 6 pillars

D

Score 25 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
89 of 99
Six-pillar profile for USLV. Scores out of 100: Cost 17, Risk 16, Mission not scored, Tradability 46, Holdings not scored, Durability 44. Strongest: Tradability (46). Weakest: Risk (16). Based on 4 of 6 pillars.

Score 25 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.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F17 out of 100
    Rank 82 of 99

  • 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.
    F16 out of 100
    Rank 88 of 98

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C46 out of 100
    Rank 57 of 99

  • 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.
    C44 out of 100
    Rank 57 of 99

Our read on USLV

ETF.net Research

In short

DSilver leverage without the futures plumbing: USLV targets 200% of silver's daily move by referencing SLV, the physically backed silver trust, in a 1940 Act fund that trades like any stock and skips the K-1.

Stated mandate

The fund seeks daily investment results equal to 200% of Silver's price performance before fees and expenses.

Why people hold it

  • Direxion calls it an industry first: 2X daily leverage aimed at spot silver, referencing the physically backed iShares Silver Trust instead of a futures roll schedule.direxion.com
  • A registered 1940 Act fund, so it trades in an ordinary brokerage account and, per Direxion's materials, avoids K-1 paperwork.direxion.com
  • The mandate is plain: 200% of silver's price performance, measured day by day, before fees and expenses.

Worth knowing

  • The 2X target is a one-day target. Held through a choppy silver tape, compounding can leave results far from twice the period's move.sec.gov
  • 1.10% net of a waiver through September 1, 2027 (1.12% gross), above the category median; index-based peers like QLD (0.89% net of a waiver through September 30, 2027) cost less.
  • Launched May 2026, so the track record is short, and with a small asset base it is moderately traded rather than a volume giant.

USLV Performance

Launched May 27, 2026

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.Not enough history yet.Not enough history yet.
USLV$7,042
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,093
Jul 31, 2026 to Nov 2, 2026. USLV $7,042. SPY $10,093. Use the arrow keys to read each point.$7,500$10,000$12,500Jul 2026Sep 2026Nov 2026

Jul 31, 2026 – Nov 2, 2026

Returns run to the Nov 2, 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 USLV. Periods over one year show the average yearly return.
PeriodUSLV
Year to dateFund launched this yearNo data
1 month−32.5%
3 months−29.6%
1 yearFund is under 1 year oldNo data
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 USLV
YearReturn barUSLV
2026 YTD−60.2%

Since listing, May 27, 2026

USLV in the news

USLV Dividends

Last payment
$0.07 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jun 23, 2026 $0.04; Sep 22, 2026 $0.07. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.07
Jun 23, 2026Jun 30, 2026$0.04

USLV Risk

Risk pillarF16 out of 100Rank 88 of 98 in Leveraged Long (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.
Launched May 2026; 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 May 2026; 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 May 2026; 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.
0.00
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.

USLV Cost

Compare USLV and WX

Overpaying vs WX, cheapest in Leveraged Long (2x & Other)

$16,136

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

  • USLV 1.10%

    $20,291

  • WX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • USLV 1.10%
  • WX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530USLV $20,291WX $4,155

Year by year

YearUSLVWXOverpaying
10$1,931$365$1,566
20$7,225$1,421$5,804
30$20,291$4,155$16,136
How the 1.10% is worked out

Full fee 1.12%− waiver 0.02%= you pay 1.10%

The waiver ends Sep 1, 2027. After that the fee is 1.12% unless Direxion renews it. Source: prospectus, Apr 2026.

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