PASSDirexion Daily Consumer Discretionary Bear 3X Shares
PASS Fund Description
The Direxion Daily Consumer Discretionary Bear 3x Shares ETF provides -3x leveraged exposure to the U.S. consumer discretionary sector.
PASS Factset Analytics Insight
PASS is a daily -3x leveraged (inverse) bet on the S&P Consumer Discretionary Select Industry Index. PASS does this through a portfolio swaps contracts that gets rebalanced at the end of each trading day. Because of this rebalancing, the fund’s return for periods longer than a day becomes path dependent, and is likely to be different from three times the inverse of the return of the index for the same period. This makes PASS suitable primarily for short-term traders. The expense ratio has minimal impact on the cost of holding these funds for a short period of time, and would matter little to someone who is speculating on the short-term movements of biotech companies. Trading costs as reflected in spreads, and potential premium/discounts are the predominant consideration here.
PASS CHARTS AND PERFORMANCE
PASS Portfolio Data
PASS Index Data
PASS Fund Structure
PASS Tax Exposures
PASS Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of PASS. PASS is rated a N/A out of 5.