TZA
·NYSE
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Key Stats
Assets Under Management
301.13MUSD
Fund Flows (1Y)
100.52MUSD
Dividend Yield
7.21%
Discount/Premium to NAV
-0.05%
Shares Outstanding
37.27M
Expense Ratio
0.99%
About Direxion Daily Small Cap Bear 3X Shares
Issuer
Rafferty Asset Management, LLC
Brand
Direxion
Inception Date
Nov 5, 2008
Structure
Open-Ended Fund
Index Tracked
Russell 2000 Index
Management Style
Passive
Dividend Treatment
Distributes
Distribution Tax Treatment
Ordinary income
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
Rafferty Asset Management LLC
Distributor
Foreside Fund Services LLC
TZA offers (-3x) daily inverse exposure to US small-cap companies as defined by the Russell 2000. The underlying index specifically contains the 1001st through the 3000th securities pulled from the Russell 3000 index, which covers approximately 10% of its total market capitalization. The fund may invest in securities across various sectors and industry groups without any bias. Selected securities are then weighted by market-cap. The fund uses ETF and index swaps to get its inverse exposure. As a geared product with daily resets, TZA is designed as a short-term trading tool and not a long-term investment vehicle. As a result, long-term returns could materially differ from those of the underlying index due to daily compounding.
Classification
Asset Class
Equity
Category
Size and Style
Focus
Small Cap
Niche
Broad-based
Strategy
Vanilla
Geography
U.S.
Weighting Scheme
Market Cap
Selection Criteria
Market cap
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | -20.31% | -13.14% | -43.56% | -43.42% | -79.72% | -87.87% |
NAV Total Return | -16.68% | -23.24% | -40.93% | -40.83% | -77.10% | -87.95% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
No data is currently available
Asset
No data is currently available
Region
No data is currently available
Investment Style
No data is currently available
Top 10 Holdings
Symbol
Ratio
DREYFUS GOVT CASH MAN INS
49.45%
GOLDMAN FINL SQ TRSRY INST 506
35.97%
GOLDMAN SACHS FIN GOV 465 INSTITUT
20.35%
DREYFUS TRSRY SECURITIES CASH MGMT
6.36%
RUSS 2000 INDX SMALL SWAP
-18.29%
RUSS 2000 INDX SMALL SWAP-1
-33.88%
RUSS 2000 INDX SMALL SWAP-2
-35.00%
RUSSELL 2000 INDEX SWAP
-41.43%
RUSS 2000 INDX SMALL SWAP-3
-50.49%
RUSS 2000 INDX SMALL SWAP-4
-57.85%
Top 10 Weight -124.81%
11 Total Holdings
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2025-09-23 | 2025-09-23 | 2025-09-30 | 0.053 |
| 2025-06-24 | 2025-06-24 | 2025-07-01 | 0.056 |
| 2025-03-25 | 2025-03-25 | 2025-04-01 | 0.238 |
| 2024-12-23 | 2024-12-23 | 2024-12-31 | 0.084 |
| 2024-09-24 | 2024-09-24 | 2024-10-01 | 0.147 |
| 2024-06-25 | 2024-06-25 | 2024-07-02 | 0.233 |
| 2024-03-19 | 2024-03-20 | 2024-03-26 | 0.236 |
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Premium/Discount Chart
Premium/Discount to NAV
Price
1M
Assets Under Management
Assets Under Management
1M
Fund Flows
Inflows
Outflows
1M
