DRIP

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares
CLOSING PRICECHANGE (%)VOLUME
$18.35+0.05 (0.27%)302.23K
4:00:00 p.m. (ET) 05/23/2017
BZX EXCHANGE CLOSED
LAST TRADECHANGE (%)
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BID SIZEBID ($)ASK ($)ASK SIZE
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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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LAST 10 TRADES
TIMEPRICESHARES
15:59:5118.32400
15:59:5118.32200
15:59:5118.32200
15:59:5118.32200
15:29:4718.31200
15:29:4718.31200
15:29:4718.31300
15:15:0718.24700
12:20:0818.19100
12:07:4418.17100
Bats BZX Real-time Quote - 18:34:29
Average Spread
Premium/Discount
Volume

DRIP FactSet Analytics Block Liquidity

As of 05/23/17
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%
$18.39 M

DRIP Portfolio Data

0%
06/20/17

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%
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No

DRIP Tradability

797,303
$14.19 M
779,179
$13.54 M
0.16%
0.01%
0.37% / -0.62%
None
50,000
15.58
0%
5,851
$18.30
N/A