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Beacon

FAZDirexion Daily Financial Bear 3X Shares

Take a bet17y track recordRanked #116 of 775 in this goal

Seeks daily investment results that correspond to -300% of the daily performance of the Financials Select Sector Index.

By Direxion Funds · Launched 2008

Annual Cost

1.03%

#5,036 of 5,562 · expensive

Fund Size

$114M

#2,813 of 5,562 · mid-size

Return (1Y)Goal

-18.4%

Track Record

17 years

#629 of 5,562 · established

Performance

Total-return NAV · USD
Growth of $10,000
$8,221-17.8%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Equity

Region

North america

Strategy

Inverse

Sector

Financials

Index tracked

Financial Select Sector Index

What it actually holds

By weight

Concentration

Top 8 holdings = 102.9% of fundconcentrated

DREYFUS GOVERNMENT CASH MANAGE
44.6%
DREYFUS
35.1%
GOLDMAN FINANCIAL
23.2%
N/A
1.4%
N/A
0.9%
N/A
0.3%
N/A
-0.1%
N/A
-2.5%

Asset allocation

Cash
88.1%
Stocks
11.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
43.6%High

Year-on-year price swings

Max drawdown
-99.8%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-0.86Below average
Sortino (3Y)
-1.20Moderate downside risk

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily investment results that correspond to -300% of the daily performance of the Financials Select Sector Index.
Strategy
Invests primarily in financial derivatives to achieve -3x daily inverse exposure to the Financials Select Sector Index. Designed for short-term trading and requires active monitoring due to compounding effects over longer periods.
Inception date
November 6, 2008
Fund family
Direxion Funds

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Leveraged
Warning

Leveraged ETF — not a long-term hold

This fund uses leverage to amplify daily returns (e.g. 2x or 3x of an index). Daily rebalancing creates volatility decay — over weeks and months, the fund's return drifts from the stated multiple. In trending markets with low realised volatility, leveraged index ETFs can outperform their nominal multiple; in sideways or volatile markets they bleed. Designed for short-term tactical use, not buy-and-hold.

Source: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Why we flagged this: strategy=inverse + leveraged_name_or_strategy

Inverse
Warning

Inverse ETF — daily tool only

Delivers the inverse of the benchmark's daily return. The compounding path makes multi-day holding unpredictable even when the benchmark's total move goes your way. Legitimate as a one-day hedge; dangerous as a view.

Source: Cheng & Madhavan (2009)

Why we flagged this: strategy=inverse + inverse_name_or_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19