http://apiprod.etf.internal.com/private/fund/DRIP/fundreport
DRIP

DRIP

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares

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.

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LAST 10 TRADES
TIMEPRICESHARES
15:59:5919.43100
15:59:4019.411,000
15:57:2819.44100
15:55:5619.41400
15:55:1619.40100
15:55:1619.40100
15:55:1619.40100
15:55:1619.40100
15:55:1219.40100
15:54:3819.38800
Bats BZX Real-time Quote - 17:48:08
Daily Spread
Premium/Discount
Volume

DRIP Factset Analytics Block Liquidity

As of 10/23/17
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

Direxion
05/28/15
Open-Ended Fund
1.1%
$39.28M
0.23%

DRIP Portfolio Data

0.00%
12/19/17

DRIP Index Data

Equal
Market Cap
N/A

DRIP Fund Structure

Yes
No
No Policy
N/A
N/A
Medium
-3
Daily

DRIP Tax Exposures

20% / 39.6%
--
No

DRIP Tradability

737,255
$14.61M
584,555
$11.68M
0.23%
0.04%
0.44% / -1.01%
None
50,000
11.69
0.00%
5,851
$18.16
N/A