DRIP

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares
LAST TRADECHANGE (%)VOLUME
$16.54-1.24 (-6.97%)467.22K
11:22:53 a.m. (ET) 03/29/2017
BID SIZEBID ($)ASK ($)ASK SIZE
50016.5016.53500

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 dailyonly suited for very-risk-tolerant investors. 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.

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Select ETFs to compare their performance:
Bats Book Viewer
TOP OF BOOK
SHARES/SIZEPRICE
ASKS50016.57
50016.56
50016.55
70016.54
50016.53
BIDS50016.50
50016.49
60016.48
50016.47
20016.45
LAST 10 TRADES
TIMEPRICESHARES
11:22:5316.54100
11:22:3916.52100
11:22:2416.50100
11:21:4116.56400
11:21:4116.56400
11:21:4116.56200
11:21:4116.56200
11:13:4516.59300
11:11:0216.63100
11:09:3716.65100
Bats BZX Real-time Quote - 11:23:20
Average Spread
Premium/Discount
Volume

DRIP FactSet Analytics Block Liquidity

As of 03/28/17
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%
$25.13 M

DRIP Portfolio Data

0%
N/A

DRIP Index Data

Equal
Market Cap
N/A

DRIP Fund Structure

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

DRIP Tax Exposures

20.00% / 39.60%
--
No

DRIP Tradability

823,209
$12.88 M
819,324
$12.55 M
0.12%
0.01%
0.41% / -0.62%
None
50,000
16.39
0%
5,281
$19.28
N/A