Symbols

HIBS

Direxion Daily S&P 500 High Beta Bear 3X Shares·NYSE

--(--)

Key Stats

Assets Under Management

19.33MUSD

Fund Flows (1Y)

31.69MUSD

Dividend Yield

15.13%

Discount/Premium to NAV

0.12%

Shares Outstanding

4.58M

Expense Ratio

1.06%

About Direxion Daily S&P 500 High Beta Bear 3X Shares

Issuer

Rafferty Asset Management, LLC

Brand

Direxion

Home Page

https://www.direxion.com/product/daily-sp-500-high-beta-bull-bear-3x-etfs

Inception Date

Nov 7, 2019

Structure

Open-Ended Fund

Index Tracked

S&P 500 High Beta Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Rafferty Asset Management LLC

Distributor

Foreside Fund Services LLC

HIBS is passively-managed to select the top 100 stocks from the S&P 500 Index with the highest sensitivity to market movements (beta) over the past 12 months and weights each of them based on its calculated beta. The fund is designed to deliver 3x inverse exposure to those 100 highest-beta stocks, aiming to provide -300% of the index's return for a one-day period. To achieve its goal, the fund holds swaps, futures, short positions or other financial instruments that, in combination, produce inverse exposure to the index. HIBS gets the added exposure by using short-term financial instrument that are high quality. The index is reviewed and rebalanced quarterly. As a levered product, HIBS is not a buy-and-hold ETF, and should not be expected to provide returns greater than a one-day period.