- ISIN
- US25460E6611
- CUSIP
- 25460E661
- Issuer
- Direxion
- Inception Date
- May 3, 2017
- Region
- North America (U.S.)
- Category
- Leveraged Equities, Aerospace & Defense
- Leveraged
- 3x
- Index Tracked
- Dow Jones U.S. Select Aerospace & Defense Index (300% Daily)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $427M
Share Price Chart
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Performance
DFEN Performance Chart
Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) is up 15.1% since the beginning of the year. DFEN is currently trading at $73 per share. Investors who bought $1,000 worth of DFEN shares 5 years ago would now be looking at an investment worth $3,817.
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Returns By Period
Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has returned 15.08% so far this year and 78.27% over the past 12 months.
Direxion Daily Aerospace & Defense Bull 3X Shares
- 1D
- -4.87%
- 1M
- 11.39%
- YTD
- 15.08%
- 6M
- 7.37%
- 1Y
- 78.27%
- 3Y*
- 68.61%
- 5Y*
- 30.72%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DFEN Monthly Returns History
Based on dividend-adjusted daily data since May 3, 2017, DFEN's average daily return is +0.17%, while the average monthly return is +3.33%. At this rate, an investment would double in approximately 1.8 years.
Historically, 55% of months were positive and 45% were negative. The best month was Nov 2020 with a return of +76.2%, while the worst month was Mar 2020 at -75.4%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, DFEN closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +32.8%, while the worst single day was Mar 16, 2020 at -43.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 24.41% | 13.64% | -30.09% | -2.65% | 22.20% | -2.13% | 15.08% | ||||||
| 2025 | 22.97% | -4.61% | -4.80% | -0.23% | 42.15% | 19.30% | 11.78% | 1.50% | 16.90% | 7.55% | -15.50% | 12.68% | 156.62% |
| 2024 | -10.41% | 11.67% | 9.10% | -5.67% | 13.60% | -9.21% | 25.09% | 7.43% | 2.86% | -11.72% | 21.98% | -19.60% | 27.07% |
| 2023 | 6.23% | -0.76% | -0.29% | -4.21% | -14.60% | 22.47% | 1.20% | -5.50% | -24.65% | 9.22% | 28.26% | 17.31% | 24.70% |
| 2022 | -6.25% | 33.87% | -3.79% | -20.54% | -4.40% | -10.14% | 12.58% | -7.20% | -28.48% | 57.62% | 11.32% | -0.97% | 6.99% |
| 2021 | -18.33% | 21.58% | 27.65% | 6.16% | 10.03% | -2.20% | -5.44% | -6.27% | -5.21% | 0.15% | -18.55% | 13.59% | 12.72% |
Benchmark Metrics
Direxion Daily Aerospace & Defense Bull 3X Shares has an annualized alpha of 0.69%, beta of 2.88, and R2 of 0.56 versus S&P 500 Index. Calculated based on daily prices since May 03, 2017.
- This ETF captured 326.62% of S&P 500 Index gains and 201.54% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- Beta of 2.88 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- 0.69%
- Beta
- 2.88
- R²
- 0.56
- Upside Capture
- 326.62%
- Downside Capture
- 201.54%
Expense Ratio
DFEN has a high expense ratio of 0.96%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
DFEN ranks 35 for risk / return — below 35% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DFEN | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.37 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.78 | -0.90 |
| Martin ratioReturn relative to average drawdown | 4.31 | 12.44 | -8.13 |
Dividends
Dividend History
Direxion Daily Aerospace & Defense Bull 3X Shares provided a 7.76% dividend yield over the last twelve months, with an annual payout of $5.70 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $5.70 | $5.68 | $3.88 | $0.28 | $0.09 | $0.35 | $0.08 | $0.29 | $0.32 | $0.67 |
Dividend yield | 7.76% | 8.89% | 14.12% | 1.13% | 0.46% | 1.89% | 0.48% | 0.50% | 1.07% | 1.50% |
Monthly Dividends
The table displays the monthly dividend distributions for Direxion Daily Aerospace & Defense Bull 3X Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.00 | $0.04 | ||||||
| 2025 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $5.55 | $5.68 |
| 2024 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $3.67 | $3.88 |
| 2023 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.10 | $0.28 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.05 | $0.09 |
| 2021 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.35 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Direxion Daily Aerospace & Defense Bull 3X Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Direxion Daily Aerospace & Defense Bull 3X Shares was 91.36%, occurring on Mar 23, 2020. Recovery took 1364 trading sessions.
The current Direxion Daily Aerospace & Defense Bull 3X Shares drawdown is 24.59%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -91.36%Mar 2020 | 1mo 9d | 5y 5mo | 5y 6moFeb 2020 - Aug 2025 |
Rate-hike selloffLate 2018 | -61.07%Dec 2018 | 2mo 21d | 8mo 26d | 11mo 17dOct 2018 - Sep 2019 |
2026 bear market2026 | -41.75%Mar 2026 | 27d | — | 3mo 22dMar 2026 - now |
2025 bear market2025 | -26.58%Nov 2025 | 24d | 1mo 12d | 2mo 6dOct 2025 - Jan 2026 |
2018 bear market2018 | -25.73%May 2018 | 3mo 2d | 4mo 7d | 7mo 9dJan 2018 - Sep 2018 |
Drawdown Indicators
| DFEN | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.36% | -56.78% | -34.58% |
Max Drawdown (1Y)Largest decline over 1 year | -41.75% | -9.10% | -32.65% |
Max Drawdown (3Y)Largest decline over 3 years | -43.13% | -18.90% | -24.23% |
Max Drawdown (5Y)Largest decline over 5 years | -55.30% | -25.43% | -29.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -24.59% | -1.80% | -22.79% |
Average DrawdownAverage peak-to-trough decline | -45.14% | -10.71% | -34.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.23% | 2.03% | +16.20% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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