Direxion Daily Small Cap Bear 3X Shares (TZA)Trading--Inverse Equity | Exchange Traded Fund | NYSEArca
50.71 USD
+1.68
(3.426%)
⇧
(Oct. 16, 2026, 12:27 p.m.
EDT)
|
Hot Take ↕ | Oct. 10, 2026, 11:28 a.m. EDT
This instrument is a high-octane leveraged bet on a small-cap crash, currently trading at a discount to its recent highs despite a massive 3x inverse exposure. The short-term outlook is bullish for the trade itself because the underlying small-cap sector appears to be in a correction zone, and the options chain confirms this with a heavy concentration of downside protection being bought. However, the long-term investment case is nonexistent; the underlying asset has suffered a catastrophic 99% decline over the last decade, with the most recent three years showing continuous negative returns. This is not a value opportunity; it is a structural deterioration of the underlying index performance. While the 3% dividend yield might look attractive on paper, it is a token payout on a rapidly eroding principal, likely funded by NAV erosion given the relentless downward trend of the benchmark. Investors here are betting on a recession or a market collapse, not on business growth. |
| Model | MAE |
|---|---|
| AutoETS ✓ | 0.054875 |
| AutoARIMA | 0.055718 |
| MSTL | 0.056191 |
| AutoTheta | 0.065428 |
Forecast horizon: 45 days | Selected: AutoETS
| Forecast Reliability | |
|---|---|
| Score | 45% |
| H-stat | 1.21 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.305 |
| Excess Kurtosis | -1.02 |
As of Oct. 10, 2026, 11:28 a.m. EDT: Speculators are aggressively positioning for a continued decline, evidenced by massive open interest walls in deep out-of-the-money puts (strikes 5, 6, 9) and significant volume spikes in lower strikes relative to their open interest. Conversely, call activity is concentrated in deep out-of-the-money strikes (60, 65) with elevated implied volatility, suggesting a speculative bet on a sharp rebound rather than a steady grind up. The skew heavily favors downside protection, indicating the market views the current price as vulnerable to further drops.
| Last Yield | 1yr Yield | 3yr Avg | 5yr Avg |
|---|---|---|---|
| 1.10% | 3.54% | 3.66% | 2.85% |
| Date | Dividend | Yield % |
|---|---|---|
| 2026-09-22 | 0.473 | 1.100256 |
| 2026-06-23 | 0.380 | 0.952381 |
| 2026-03-24 | 0.700 | 0.997151 |
| 2025-12-23 | 0.340 | 0.487106 |
| 2025-09-23 | 0.530 | 0.660848 |
| 2025-06-24 | 0.560 | 0.462428 |
| 2025-03-25 | 2.380 | 1.577204 |
| 2024-12-23 | 0.840 | 0.652174 |
| 2024-09-24 | 1.470 | 1.083272 |
| 2024-06-25 | 2.330 | 1.216075 |
| 2024-03-19 | 2.360 | 1.236249 |
| 2023-12-21 | 1.110 | 0.548961 |
| 2023-09-19 | 2.880 | 1.000347 |
| 2023-06-21 | 2.360 | 0.863520 |
| 2023-03-21 | 4.600 | 1.415820 |
| 2020-03-24 | 6.640 | 0.110652 |
| 2019-12-23 | 7.200 | 0.258993 |
| 2019-09-24 | 26.080 | 0.707772 |
| 2019-03-19 | 10.800 | 0.280083 |
| 2018-12-27 | 20.400 | 0.323604 |
| 2018-09-25 | 12.000 | 0.363196 |
| 2018-03-20 | 6.000 | 0.135501 |
| Attribute | Value |
|---|---|
| All Time High | 15,031,680.0 |
| All Time Low | 14.2 |
| Ask | 50.71 |
| Ask Size | 1,800 |
| Average Daily Volume10 Day | 3,822,250 |
| Average Daily Volume3 Month | 4,197,723 |
| Average Volume | 4,197,723 |
| Average Volume10Days | 3,822,250 |
| Beta3 Year | -3.58 |
| Bid | 50.7 |
| Bid Size | 1,400 |
| Category | Trading--Inverse Equity |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 50.7978 |
| Day Low | 48.635 |
| Display Name | Daily Small Cap Bear 3X Shares |
| Dividend Yield | 3.0 |
| Esg Populated | 0 |
| Exchange | PCX |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 42.5424 |
| Fifty Day Average Change | 8.167599 |
| Fifty Day Average Change Percent | 0.19198726 |
| Fifty Two Week Change Percent | -38.7125 |
| Fifty Two Week High | 95.4 |
| Fifty Two Week High Change | -44.690002 |
| Fifty Two Week High Change Percent | -0.46844867 |
| Fifty Two Week Low | 36.33 |
| Fifty Two Week Low Change | 14.379997 |
| Fifty Two Week Low Change Percent | 0.39581603 |
| Fifty Two Week Range | 36.33 - 95.4 |
| First Trade Date Milliseconds | 1,227,105,000,000 |
| Five Year Average Return | -0.2675968 |
| Full Exchange Name | NYSEArca |
| Fullday Change | 1.6800003 |
| Fullday Change Percent | 3.4264743 |
| Fullday Price | 50.71 |
| 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 | REGULAR |
| Max Age | 86,400 |
| Message Board Id | finmb_51234797 |
| Nav Price | 51.167 |
| Net Assets | 239,113,424.0 |
| Net Expense Ratio | 0.99 |
| Open | 48.87 |
| Phone | 866-476-7523 |
| Previous Close | 49.03 |
| Price Hint | 2 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | 1.6800003 |
| Regular Market Change Percent | 3.4264743 |
| Regular Market Day High | 50.7978 |
| Regular Market Day Low | 48.635 |
| Regular Market Day Range | 48.635 - 50.7978 |
| Regular Market Open | 48.87 |
| Regular Market Previous Close | 49.03 |
| Regular Market Price | 50.71 |
| Regular Market Time | 1,792,168,073 |
| Regular Market Volume | 2,550,948 |
| Short Name | Direxion Small Cap Bear 3X ETF |
| Source Interval | 15 |
| Symbol | TZA |
| Three Year Average Return | -0.4522404 |
| Total Assets | 239,113,424 |
| Tradeable | 0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | 25.11585 |
| Trailing Three Month Returns | 25.11585 |
| Triggerable | 1 |
| Two Hundred Day Average | 51.21335 |
| Two Hundred Day Average Change | -0.5033493 |
| Two Hundred Day Average Change Percent | -0.009828479 |
| Type Disp | ETF |
| Volume | 2,550,948 |
| Yield | 0.03 |
| Ytd Return | -35.54404 |