Direxion Daily S&P 500 Bear 3X Shares (SPXS)Trading--Inverse Equity | Exchange Traded Fund | NYSEArca
24.46 USD
+0.18
(0.741%)
⇧
(Aug. 28, 2026, 4 p.m.
EDT)
After hours: 24.47 +0.01 (0.041%) ⇧ (Aug. 28, 2026, 7:59 p.m. EDT) |
Hot Take ↕ | Aug. 22, 2026, 6:01 a.m. EDT
This is a classic leveraged inverse ETF designed for short-term trading, not long-term holding. The underlying asset (S&P 500) has been in a secular bull market, causing this fund to lose nearly 99.3% of its value over nine years due to compounding decay and the relentless upward drift of the index. Despite the astronomical losses, the fund pays a dividend, but this is a dangerous signal: the payout ratio is unsustainable and represents a return of capital rather than earnings, effectively accelerating the fund's destruction. The options market confirms this bearish sentiment, with traders buying deep puts as insurance against a potential crash while simultaneously betting on a massive rebound. For a long-term investor, this is a value trap; the low price reflects the mathematical certainty of continued decay if the trend reverses. The short-term outlook remains neutral-to-slightly-bearish as the fund waits for the S&P 500 to correct, but holding it is a losing strategy regardless of the outcome. |
| Model | MAE |
|---|---|
| AutoTheta ✓ | 0.031359 |
| AutoARIMA | 0.035007 |
| AutoETS | 0.035258 |
| MSTL_79 | 0.037061 |
| MSTL_79_126 | 0.038046 |
| MSTL | 0.043140 |
| MSTL_126 | 0.072465 |
Forecast horizon: 60 days | Selected: AutoTheta
| Forecast Reliability | |
|---|---|
| Score | 41% |
| H-stat | 1.42 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.880 |
| Excess Kurtosis | -0.28 |
As of Aug. 22, 2026, 6:01 a.m. EDT: Speculators are heavily positioned for downside protection with massive open interest in deep out-of-the-money puts (strikes 1.0, 3.0, 5.0) expiring in January 2027, indicating a belief in a catastrophic collapse. Conversely, there is significant call volume at strikes 60.0 and 36.0, suggesting a contrarian bet on a massive rally or a 'long gamma' setup where dealers face unlimited risk if the price drops further. The skew is extreme, with put premiums vastly exceeding call premiums at deep strikes.
| Last Yield | 1yr Yield | 3yr Avg | 5yr Avg |
|---|---|---|---|
| 0.86% | 3.34% | 4.14% | 2.94% |
| Date | Dividend | Yield % |
|---|---|---|
| 2026-06-23 | 0.239 | 0.858477 |
| 2026-03-24 | 0.383 | 0.953923 |
| 2025-12-23 | 0.193 | 0.560558 |
| 2025-09-23 | 0.370 | 0.963542 |
| 2025-06-24 | 0.340 | 0.686869 |
| 2025-03-25 | 0.840 | 1.284404 |
| 2024-12-23 | 0.500 | 0.834725 |
| 2024-09-24 | 0.840 | 1.250000 |
| 2024-06-25 | 1.170 | 1.500000 |
| 2024-03-19 | 1.370 | 1.512141 |
| 2023-12-21 | 1.040 | 0.890411 |
| 2023-09-19 | 1.590 | 1.124470 |
| 2023-06-21 | 1.580 | 1.071913 |
| 2023-03-21 | 2.330 | 1.217982 |
| 2020-03-24 | 2.000 | 0.099900 |
| 2019-12-23 | 3.700 | 0.277778 |
| 2019-09-24 | 5.600 | 0.323139 |
| 2019-06-25 | 7.500 | 0.398936 |
| 2019-03-19 | 6.200 | 0.296509 |
| 2018-12-27 | 10.200 | 0.323604 |
| 2018-09-25 | 4.800 | 0.224930 |
| 2018-03-20 | 2.900 | 0.105762 |
| Attribute | Value |
|---|---|
| All Time High | 1,644,750.0 |
| All Time Low | 7.32 |
| Ask | 24.49 |
| Ask Size | 24,100 |
| Average Daily Volume10 Day | 10,244,490 |
| Average Daily Volume3 Month | 11,680,533 |
| Average Volume | 11,680,533 |
| Average Volume10Days | 10,244,490 |
| Beta3 Year | -2.75 |
| Bid | 24.45 |
| Bid Size | 46,900 |
| Category | Trading--Inverse Equity |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 24.5601 |
| Day Low | 23.91 |
| Dividend Yield | 4.45 |
| Esg Populated | 0 |
| Exchange | PCX |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 25.9494 |
| Fifty Day Average Change | -1.4894009 |
| Fifty Day Average Change Percent | -0.057396352 |
| Fifty Two Week Change Percent | -43.665894 |
| Fifty Two Week High | 44.83 |
| Fifty Two Week High Change | -20.370003 |
| Fifty Two Week High Change Percent | -0.45438325 |
| Fifty Two Week Low | 23.4 |
| Fifty Two Week Low Change | 1.0599995 |
| Fifty Two Week Low Change Percent | 0.045299124 |
| Fifty Two Week Range | 23.4 - 44.83 |
| First Trade Date Milliseconds | 1,227,105,000,000 |
| Five Year Average Return | -0.3264053 |
| Full Exchange Name | NYSEArca |
| Fullday Change | 0.179998 |
| Fullday Change Percent | 0.741344 |
| Fullday Price | 24.47 |
| Fund Family | Direxion Funds |
| Fund Inception Date | 1,225,843,200 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Has Pre Post Market Data | 1 |
| Language | en-US |
| Legal Type | Exchange Traded Fund |
| Long Business Summary | The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, including swap agreements, futures contracts, or short positions, that, in combination, provide 3X daily inverse (opposite) or short exposure to the index or to exchange-traded funds (“ETFs”) that track the index, consistent with the fund’s investment objective. The index is a float-adjusted, market capitalization-weighted index. The fund is non-diversified. |
| Long Name | Direxion Daily S&P 500 Bear 3X Shares |
| Market | us_market |
| Market State | CLOSED |
| Max Age | 86,400 |
| Message Board Id | finmb_51234694 |
| Nav Price | 24.785 |
| Net Assets | 351,671,488.0 |
| Net Expense Ratio | 1.04 |
| Open | 24.24 |
| Phone | 866-476-7523 |
| Post Market Change | 0.010000229 |
| Post Market Change Percent | 0.04088401 |
| Post Market Price | 24.47 |
| Post Market Time | 1,787,961,562 |
| Previous Close | 24.28 |
| Price Hint | 2 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | 0.179998 |
| Regular Market Change Percent | 0.741344 |
| Regular Market Day High | 24.5601 |
| Regular Market Day Low | 23.91 |
| Regular Market Day Range | 23.91 - 24.5601 |
| Regular Market Open | 24.24 |
| Regular Market Previous Close | 24.28 |
| Regular Market Price | 24.46 |
| Regular Market Time | 1,787,947,200 |
| Regular Market Volume | 11,308,649 |
| Short Name | Direxion Daily S&P 500 Bear 3X |
| Source Interval | 15 |
| Symbol | SPXS |
| Three Year Average Return | -0.4248763 |
| Total Assets | 351,671,488 |
| Tradeable | 0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | -10.68109 |
| Trailing Three Month Returns | -10.68109 |
| Triggerable | 1 |
| Two Hundred Day Average | 31.93165 |
| Two Hundred Day Average Change | -7.471651 |
| Two Hundred Day Average Change Percent | -0.23398888 |
| Type Disp | ETF |
| Volume | 11,308,649 |
| Yield | 0.044499997 |
| Ytd Return | -23.67563 |