Direxion FundsInverse EquityTZA · NYSE Arca

Direxion Daily Small Cap Bear 3X ETF (TZA)

Compare Leveraged & Inverse ETFs Compare with others

Price: $42.93; —11 Sept 2026
Assets: $235.1M; Total net assets
Expense ratio: 0.99%; Category 0.00%
Yield: 4.81%; Trailing distributions

1Y return: -47.7%-14.4%; Category -33.3%
3Y CAGR: -44.4%-10.2%; Category -34.2%
5Y CAGR: -30.6%-4.9%; Category -25.8%

Loading NAV history…

Direxion Daily Small Cap Bear 3X ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	+15.5%	+4.2%	-40.7%	-41.7%	-47.7%	-44.4%	-30.6%	-42.1%	-49.9%
Inverse Equity average	-2.0%	-14.2%	-35.6%	-33.6%	-33.3%	-34.2%	-25.8%	-30.0%	-42.1%
Difference	+17.5%	+18.4%	-5.1%	-8.1%	-14.4%	-10.2%	-4.9%	-12.1%	-7.8%

Holdings

This ETF publishes no holdings breakdown.

ETF details

Issuer: Direxion Funds
Category: Equity · Inverse Equity
Ticker: TZA
Exchange: NYSE Arca
Inception: 5 Nov 2008 (17.8 years)
Structure: Exchange Traded Fund
Expense ratio: 0.99% (category 0.00%)
Holdings turnover: 0%
Distribution yield: 4.81%
Beta, 3 years: -3.53
Total net assets: $235.1M

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

Other inverse equity ETFs

Other ETFs in the Inverse Equity category.

Compare Leveraged & Inverse ETFs