SPDN Performance — Direxion Daily S&P 500 Bear 1X Shares
Data updated: 2026-09-28
SPDN returned −6.42% year to date and −11.35% over one year to Jul 2026. Annualised returns are −11.02% over 3 years and −8.06% over 5 years. The fund beat its Trading - Inverse category average: $100 invested three years ago grew to $70, against $39 for the category, and to $89 over one year, against $73. Volatility over the past three years was 12.73% a year. In the 12 months to Jul 2026 the fund took in a net $194.8M, and assets reached $285.00M.
SPDN Growth of $100
What $100 invested in Direxion Daily S&P 500 Bear 1X Shares grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Trading - Inverse category average over the same months.
| Period | SPDN | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $89 | $73 |
| 3 years (Aug 2023 – Jul 2026) | $70 | $39 |
| 5 years (Aug 2021 – Jul 2026) | $66 | $35 |
| Since data start (Aug 2019 – Jul 2026) | $38 | $12 |
SPDN Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −6.42% |
| 1 year | −11.35% |
| 3 years (annualised) | −11.02% |
| 5 years (annualised) | −8.06% |
SPDN Annual Returns
Calendar-year total returns of Direxion Daily S&P 500 Bear 1X Shares, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | −6.42% |
| 2025 | −12.17% |
| 2024 | −12.92% |
| 2023 | −14.97% |
| 2022 | +18.63% |
| 2021 | −23.68% |
| 2020 | −24.57% |
| 2019 (Aug–Dec) | −7.88% |
SPDN Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | −0.9% | +1.2% | +5.6% | −9.1% | −4.5% | +1.3% | +0.6% | — | — | — | — | — |
| 2025 | −2.2% | +1.9% | +6.3% | −0.5% | −5.5% | −5.5% | −1.5% | −1.4% | −2.9% | −1.8% | +0.2% | +0.5% |
| 2024 | −0.9% | −4.4% | −2.3% | +4.9% | −3.9% | −2.7% | −0.5% | −1.7% | −1.5% | +1.7% | −5.0% | +3.1% |
| 2023 | −5.5% | +3.0% | −3.0% | −1.0% | +0.3% | −5.5% | −2.5% | +2.3% | +5.7% | +2.7% | −7.9% | −3.7% |
| 2022 | +5.1% | +2.7% | −4.0% | +9.0% | −0.9% | +8.4% | −8.5% | +4.3% | +10.0% | −7.7% | −5.3% | +6.5% |
| 2021 | +0.8% | −2.8% | −4.4% | −5.2% | −0.9% | −2.3% | −2.5% | −3.0% | +4.7% | −6.6% | +0.5% | −4.6% |
| 2020 | +0.2% | +8.7% | +6.2% | −12.6% | −4.9% | −2.7% | −5.5% | −6.8% | +3.4% | +2.4% | −10.1% | −3.8% |
| 2019 | — | — | — | — | — | — | — | +1.5% | −1.6% | −2.0% | −3.3% | −2.7% |
SPDN Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 12.73%
- 3-year Sharpe ratio: -1.22 (vs 4.5% risk-free rate)
- Best month: +6.33% (Mar 2025)
- Worst month: −9.12% (Apr 2026)
SPDN Fund Flows
Monthly money in and out of Direxion Daily S&P 500 Bear 1X Shares, from SEC Form N-PORT.
- 12-month net flow: $194.8M
- 12-month gross sales (incl. reinvestments): $2.6B
- Sales ÷ redemptions: 1.08×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $331.0M | $241.9M | $89.1M |
| Jun 2026 | $379.1M | $385.0M | −$5.9M |
| May 2026 | $186.6M | $199.5M | −$12.9M |
| Apr 2026 | $224.1M | $286.6M | −$62.5M |
| Mar 2026 | $418.8M | $355.6M | $63.3M |
| Feb 2026 | $186.4M | $158.4M | $28.0M |
| Jan 2026 | $150.1M | $133.8M | $16.3M |
| Dec 2025 | $74.6M | $113.7M | −$39.1M |
| Nov 2025 | $373.2M | $264.7M | $108.5M |
| Oct 2025 | $159.9M | $175.6M | −$15.7M |
| Sep 2025 | $65.4M | $47.8M | $17.6M |
| Aug 2025 | $90.4M | $82.4M | $8.0M |
SPDN Assets Under Management
Net assets of Direxion Daily S&P 500 Bear 1X Shares by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $285.00M |
| 2026-04-30 | $219.93M |
| 2026-01-31 | $201.95M |
| 2025-10-31 | $120.86M |
| 2025-07-31 | $121.67M |
| 2025-04-30 | $169.42M |
| 2025-01-31 | $133.53M |
| 2024-10-31 | $151.86M |
| 2024-07-31 | $180.40M |
| 2024-04-30 | $188.37M |
| 2024-01-31 | $195.07M |
| 2023-10-31 | $237.73M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.