DRIP

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares
LAST TRADECHANGE (%)VOLUME
$28.31-0.06 (-0.21%)34.47K
10:19:54 a.m. (ET) 08/18/2017
BID SIZEBID ($)ASK ($)ASK SIZE
70028.2828.34400

DRIP Fund Description

The Direxion Daily S&P Oil & Gas Exploration & Production Bear 3X Shares ETF provides 3x inverse daily exposure to an equal-weighted index of the largest oil and gas exploration and production companies in the US.

DRIP FactSet Analytics Insight

DRIP seeks to deliver -300% of the daily performance of the S&P Oil & Gas Exploration & Production Select Industry Index—the same index underlying XOP. The fund uses over-the-counter derivatives to achieve this objective.

Because of its equal-weighting, the underlying index exhibits a small company tilt and elevated market risk. The inverse triple leverage of the fund pushes this market beta close to negative 4. As a result, DRIP is extremely volatile and only suited for very-risk-tolerant investors.

As with all levered and inverse funds, DRIP should not be expected to deliver 3 times the inverse performance of its index for periods longer than 1 day—compounding and path-dependency can cause significant deviations over longer time frames.

DRIP is clearly meant as a tool for placing tactical bets and not as a permanent holding in a portfolio. As such, the costs of getting in and out of the fund—spreads and any premium/discount—are more important than the fund’s high expense ratio. In this respect, it remains to be seen if the ETF achieves enough liquidity to become a viable option for placing short-term bets on the direction of the energy exploration and production sector.

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
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Select ETFs to compare their performance:
Bats Book Viewer
TOP OF BOOK
SHARES/SIZEPRICE
ASKS1,00028.39
1,00028.38
40028.37
40028.35
40028.34
BIDS70028.28
90028.27
90028.26
90028.25
1,00028.24
LAST 10 TRADES
TIMEPRICESHARES
10:19:5428.31100
10:08:3928.08100
10:04:3328.02100
10:00:5728.36200
09:48:5828.15100
09:48:5828.15100
09:46:0628.29200
09:40:3928.73400
09:37:1428.413
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Bats BZX Real-time Quote - 10:23:02
Daily Spread
Premium/Discount
Volume

DRIP FactSet Analytics Block Liquidity

As of 08/17/17
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of DRIP. DRIP is rated a N/A out of 5.

DRIP Summary Data

05/28/15
Open-Ended Fund
1.10%
$22.65 M

DRIP Portfolio Data

0%
09/19/17

DRIP Index Data

Equal
Market Cap
N/A

DRIP Fund Structure

Yes
No
0% / 100%
N/A
N/A
High
-3x
Daily

DRIP Tax Exposures

20.00% / 39.60%
--
No

DRIP Tradability

572,012
$13.02 M
477,258
$11.45 M
0.25%
0.02%
0.44% / -1.01%
None
50,000
9.55
0%
5,851
$27.15
N/A