SPXS Performance — Direxion Daily S&P 500 Bear 3X Shares
Data updated: 2026-09-28
SPXS returned −23.68% year to date and −38.14% over one year to Jul 2026. Annualised returns are −38.52% over 3 years and −32.78% over 5 years. The fund trailed its Trading - Inverse category average: $100 invested three years ago grew to $23, against $39 for the category, and to $62 over one year, against $73. Volatility over the past three years was 36.71% a year. In the 12 months to Jul 2026 the fund took in a net $187.9M, and assets reached $451.40M.
SPXS Growth of $100
What $100 invested in Direxion Daily S&P 500 Bear 3X Shares grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Trading - Inverse category average over the same months.
| Period | SPXS | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $62 | $73 |
| 3 years (Aug 2023 – Jul 2026) | $23 | $39 |
| 5 years (Aug 2021 – Jul 2026) | $14 | $35 |
| Since data start (Aug 2019 – Jul 2026) | $2 | $12 |
SPXS Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −23.68% |
| 1 year | −38.14% |
| 3 years (annualised) | −38.52% |
| 5 years (annualised) | −32.78% |
SPXS Annual Returns
Calendar-year total returns of Direxion Daily S&P 500 Bear 3X Shares, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | −23.68% |
| 2025 | −42.00% |
| 2024 | −42.76% |
| 2023 | −45.87% |
| 2022 | +35.83% |
| 2021 | −58.03% |
| 2020 | −70.44% |
| 2019 (Aug–Dec) | −24.54% |
SPXS 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 | −3.5% | +2.7% | +16.0% | −25.7% | −13.7% | +2.7% | +0.7% | — | — | — | — | — |
| 2025 | −7.3% | +4.6% | +18.3% | −8.4% | −16.7% | −13.7% | −5.3% | −5.1% | −9.2% | −6.3% | −0.4% | +0.8% |
| 2024 | −3.7% | −13.7% | −7.9% | +14.2% | −12.2% | −8.7% | −2.8% | −6.9% | −5.4% | +3.8% | −14.9% | +8.2% |
| 2023 | −16.8% | +8.0% | −10.5% | −3.8% | −0.5% | −16.6% | −7.9% | +5.9% | +17.2% | +7.3% | −22.4% | −11.3% |
| 2022 | +15.3% | +7.1% | −12.9% | +27.8% | −4.9% | +24.4% | −24.4% | +11.8% | +30.9% | −23.3% | −17.5% | +19.2% |
| 2021 | +1.7% | −8.7% | −13.4% | −15.0% | −3.0% | −7.1% | −7.5% | −9.0% | +14.3% | −19.0% | +1.3% | −13.7% |
| 2020 | −0.1% | +26.5% | −4.5% | −36.4% | −15.2% | −9.6% | −16.1% | −19.1% | +8.9% | +6.1% | −27.9% | −11.1% |
| 2019 | — | — | — | — | — | — | — | +3.0% | −5.2% | −6.5% | −9.8% | −8.3% |
SPXS Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 36.71%
- 3-year Sharpe ratio: -1.17 (vs 4.5% risk-free rate)
- Best month: +18.28% (Mar 2025)
- Worst month: −25.68% (Apr 2026)
SPXS Fund Flows
Monthly money in and out of Direxion Daily S&P 500 Bear 3X Shares, from SEC Form N-PORT.
- 12-month net flow: $187.9M
- 12-month gross sales (incl. reinvestments): $1.2B
- Sales ÷ redemptions: 1.19×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $209.8M | $57.6M | $152.1M |
| Jun 2026 | $95.7M | $189.5M | −$93.8M |
| May 2026 | $84.6M | $32.9M | $51.7M |
| Apr 2026 | $169.0M | $77.3M | $91.7M |
| Mar 2026 | $127.1M | $148.6M | −$21.4M |
| Feb 2026 | $77.8M | $44.7M | $33.1M |
| Jan 2026 | $63.0M | $81.8M | −$18.7M |
| Dec 2025 | $73.9M | $56.1M | $17.8M |
| Nov 2025 | $51.4M | $129.5M | −$78.1M |
| Oct 2025 | $73.5M | $59.0M | $14.5M |
| Sep 2025 | $74.1M | $45.2M | $28.9M |
| Aug 2025 | $68.3M | $58.1M | $10.1M |
SPXS Assets Under Management
Net assets of Direxion Daily S&P 500 Bear 3X Shares by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $451.40M |
| 2026-04-30 | $385.07M |
| 2026-01-31 | $332.77M |
| 2025-10-31 | $418.56M |
| 2025-07-31 | $463.68M |
| 2025-04-30 | $404.06M |
| 2025-01-31 | $343.57M |
| 2024-10-31 | $508.27M |
| 2024-07-31 | $479.56M |
| 2024-04-30 | $572.75M |
| 2024-01-31 | $628.99M |
| 2023-10-31 | $703.65M |
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.