Direxion Daily Small Cap Bear 3X Shares (TZA)Trading--Inverse Equity | Exchange Traded Fund | NYSEArca
4.08 USD
+0.09
(2.256%)
⇧
(July 13, 2026, 4 p.m.
EDT)
|
Hot Take ↕ | July 11, 2026, 4:16 a.m. EDT
This instrument is a high-risk leveraged bet on a continuing small-cap bear market, currently trading at a discount to its historical highs due to a brutal multi-year decline. The underlying business quality is nonexistent; it is a synthetic vehicle designed to profit from falling markets, which has resulted in a catastrophic loss of over 99% of its value since inception. While the 5% dividend yield appears attractive, it is a mechanical distribution generated by the fund's hedging costs and leverage mechanics, not a sign of corporate profitability or sustainable cash flow. The recent price action shows the fund hovering near its 52-week lows, offering limited immediate catalysts for recovery. Options data screams 'downside,' with heavy positioning in deep out-of-the-money puts suggesting traders expect further drops. For a long-term investor, this is a value trap; the low price reflects the reality that the underlying index has been in a structural decline for years. It is suitable only for aggressive traders willing to accept the risk of total capital erosion in exchange for a leveraged bet on a recession. |
| Model | MAE |
|---|---|
| AutoTheta ✓ | 0.088518 |
| MSTL | 0.145969 |
| AutoETS | 0.163676 |
| AutoARIMA | 0.163679 |
Forecast horizon: 45 days | Selected: AutoTheta
| Forecast Reliability | |
|---|---|
| Score | 38% |
| H-stat | 4.52 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.321 |
| Excess Kurtosis | -0.54 |
As of July 11, 2026, 4:16 a.m. EDT: Speculators are aggressively positioning for further downside, evidenced by massive open interest in out-of-the-money puts (strikes 5.0, 6.0, 9.0, 15.0) compared to negligible call activity. The call side shows a 'bear put spread' structure where traders are buying deep OTM calls (strikes 34.0+) while selling ATM calls, indicating a view of volatility expansion without expecting a significant rally. The dominance of put volume and open interest across nearly all expirations confirms a consensus bet on continued small-cap weakness.
| Last Yield | 1yr Yield | 3yr Avg | 5yr Avg |
|---|---|---|---|
| 0.95% | 3.10% | 3.62% | 2.63% |
| Date | Dividend | Yield % |
|---|---|---|
| 2026-06-23 | 0.038 | 0.952381 |
| 2026-03-24 | 0.070 | 0.997151 |
| 2025-12-23 | 0.034 | 0.487106 |
| 2025-09-23 | 0.053 | 0.660848 |
| 2025-06-24 | 0.056 | 0.462428 |
| 2025-03-25 | 0.238 | 1.577203 |
| 2024-12-23 | 0.084 | 0.652174 |
| 2024-09-24 | 0.147 | 1.083272 |
| 2024-06-25 | 0.233 | 1.216075 |
| 2024-03-19 | 0.236 | 1.236249 |
| 2023-12-21 | 0.111 | 0.548961 |
| 2023-09-19 | 0.288 | 1.000347 |
| 2023-06-21 | 0.236 | 0.863520 |
| 2023-03-21 | 0.460 | 1.415820 |
| 2020-03-24 | 0.664 | 0.110652 |
| 2019-12-23 | 0.720 | 0.258993 |
| 2019-09-24 | 2.608 | 0.707772 |
| 2019-03-19 | 1.080 | 0.280083 |
| 2018-12-27 | 2.040 | 0.323604 |
| 2018-09-25 | 1.200 | 0.363196 |
| 2018-03-20 | 0.600 | 0.135501 |
| Attribute | Value |
|---|---|
| All Time High | 1,503,168.0 |
| All Time Low | 3.71 |
| Ask | 0.0 |
| Ask Size | 1,161,300 |
| Average Daily Volume10 Day | 267,484,380 |
| Average Daily Volume3 Month | 261,770,331 |
| Average Volume | 261,770,331 |
| Average Volume10Days | 267,484,380 |
| Beta3 Year | -3.6 |
| Bid | 0.0 |
| Bid Size | 1,320,900 |
| Category | Trading--Inverse Equity |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 4.12 |
| Day Low | 3.99 |
| Dividend Yield | 5.15 |
| Esg Populated | 0 |
| Exchange | PCX |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 4.3892 |
| Fifty Day Average Change | -0.3092003 |
| Fifty Day Average Change Percent | -0.0704457 |
| Fifty Two Week Change Percent | -62.745094 |
| Fifty Two Week High | 12.38 |
| Fifty Two Week High Change | -8.3 |
| Fifty Two Week High Change Percent | -0.6704362 |
| Fifty Two Week Low | 3.71 |
| Fifty Two Week Low Change | 0.3699999 |
| Fifty Two Week Low Change Percent | 0.099730425 |
| Fifty Two Week Range | 3.71 - 12.38 |
| First Trade Date Milliseconds | 1,227,105,000,000 |
| Five Year Average Return | -0.31554478 |
| Full Exchange Name | NYSEArca |
| 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 invests at least 80% of its net assets in financial instruments, including swap agreements, futures contracts, or short positions, that, in combination, provide 3X daily inverse or short exposure to the index or to ETFs that track the index, consistent with the fund’s investment objective. The index measures the performance of approximately 2,000 small-cap companies in the Russell 3000® Index, based on a combination of their market capitalization and current index membership. It is non-diversified. |
| Long Name | Direxion Daily Small Cap Bear 3X Shares |
| Market | us_market |
| Market State | PRE |
| Max Age | 86,400 |
| Message Board Id | finmb_51234797 |
| Nav Price | 3.986 |
| Net Assets | 207,656,192.0 |
| Net Expense Ratio | 0.99 |
| Open | 4.02 |
| Phone | 866-476-7523 |
| Pre Market Change | 0.009999752 |
| Pre Market Change Percent | 0.24449271 |
| Pre Market Price | 4.1 |
| Pre Market Time | 1,784,023,319 |
| Previous Close | 3.99 |
| Price Hint | 4 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | 0.0899999 |
| Regular Market Change Percent | 2.25564 |
| Regular Market Day High | 4.12 |
| Regular Market Day Low | 3.99 |
| Regular Market Day Range | 3.99 - 4.12 |
| Regular Market Open | 4.02 |
| Regular Market Previous Close | 3.99 |
| Regular Market Price | 4.08 |
| Regular Market Time | 1,783,972,800 |
| Regular Market Volume | 199,537,103 |
| Short Name | Direxion Small Cap Bear 3X ETF |
| Source Interval | 15 |
| Symbol | TZA |
| Three Year Average Return | -0.42248088 |
| Total Assets | 207,656,192 |
| Tradeable | 0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | -45.44804 |
| Trailing Three Month Returns | -45.44804 |
| Triggerable | 1 |
| Two Hundred Day Average | 6.33815 |
| Two Hundred Day Average Change | -2.25815 |
| Two Hundred Day Average Change Percent | -0.35627905 |
| Type Disp | ETF |
| Volume | 199,537,103 |
| Yield | 0.0515 |
| Ytd Return | -48.48298 |