(TZA) Direxion Daily Small Cap - Overview
ETF Category: Trading--Inverse Equity | Exchange: NYSE (USA) | Market Cap: 249m USD | Total Return: -63.8% in 12m
Avg Turnover: 1.24B
Warnings
No concerns identified
Tailwinds
Idiosyncratic Leader
The Direxion Daily Small Cap Bear 3X Shares (TZA) is an inverse leveraged exchange-traded fund designed to provide 300% of the opposite daily performance of the Russell 2000 Index. To achieve this objective, the fund allocates at least 80% of its net assets to financial derivatives, including swap agreements, futures contracts, and short positions.
The underlying index comprises approximately 2,000 small-cap companies from the Russell 3000 Index, representing the lower tier of U.S. equity market capitalization. Leveraged inverse ETFs like TZA are structured for short-term trading rather than long-term investment, as daily rebalancing leads to volatility decay in trending markets.
Small-cap stocks often exhibit higher sensitivity to domestic economic shifts and interest rate changes compared to large-cap equities. Investors can utilize tools on ValueRay to further analyze how market volatility impacts leveraged fund performance. Because this fund is non-diversified and employs significant leverage, it carries a high risk profile suitable primarily for sophisticated investors monitoring positions intraday.
- Russell 2000 Index decline increases fund value through 3X inverse leverage
- Rising interest rates pressure small-cap profitability and increase debt servicing
- Economic recession fears trigger risk-off sentiment in small-cap equities
- Daily rebalancing compounding risk accelerates losses during periods of high volatility
As of June 07, 2026, the stock is trading at USD 4.70 with a total of 375,048,250 shares traded.
Over the past week, the price has changed by +8.55%,
over one month by -0.21%,
over three months by -27.43% and
over the past year by -63.79%.
Direxion Daily Small Cap has no consensus analysts rating.