Direxion Daily S&P 500 Bear 1x Shares (SPDN)

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Direxion Daily S&P 500 Bear 1x Shares (SPDN) is down 6.1% since the beginning of the year. SPDN is currently trading at $9 per share. Investors who bought $1,000 worth of SPDN shares 5 years ago would now be looking at an investment worth $631.

Direxion Daily S&P 500 Bear 1x Shares (SPDN) has returned -6.10% so far this year and -15.41% over the past 12 months. Over the last ten years, SPDN has returned -12.55% per year, falling short of the S&P 500 Index benchmark, which averaged 13.61% annually.

Based on dividend-adjusted daily data since Jun 8, 2016, SPDN's average daily return is -0.05%, while the average monthly return is -0.99%.

Historically, 31% of months were positive and 69% were negative. The best month was Sep 2022 with a return of +10.1%, while the worst month was Apr 2020 at -12.6%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 15 months.

On a daily basis, SPDN closed higher 44% of trading days. The best single day was Mar 16, 2020 with a return of +11.4%, while the worst single day was Mar 24, 2020 at -9.6%.

Direxion Daily S&P 500 Bear 1x Shares has an annualized alpha of 2.61%, beta of -0.99, and R2 of 0.99 versus S&P 500 Index. Calculated based on daily prices since June 08, 2016.

• This ETF tended to rise when S&P 500 Index fell (downside capture of -145.27%), but participation in market rallies was also limited (-65.29%) - a profile typical of counter-cyclical assets.
• This ETF generated an annualized alpha of 2.61% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
• Beta of -0.99 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.

SPDN has an expense ratio of 0.50%, placing it in the medium range.

SPDN ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

Direxion Daily S&P 500 Bear 1x Shares provided a 4.02% dividend yield over the last twelve months, with an annual payout of $0.35 per share.

The table displays the monthly dividend distributions for Direxion Daily S&P 500 Bear 1x Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Direxion Daily S&P 500 Bear 1x 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 S&P 500 Bear 1x Shares was 75.31%, occurring on Jun 2, 2026. The portfolio has not yet recovered.

The current Direxion Daily S&P 500 Bear 1x Shares drawdown is 74.71%.

The chart below shows the rolling one-month volatility.