# CSCS (Direxion Daily CSCO Bear 1X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: CSCS returned +6.2% where its own daily promise gave +4.5%, 1.6 points over.

## Key facts

- CSCS, what CSCO did: −7.1%, as of Sep 11, 2026.
- CSCS, what −1 times a day gives: +4.5%, as of Sep 11, 2026.
- CSCS, what the fund returned: +6.2%, as of Sep 11, 2026.
- CSCS, the fund itself added: +1.6 pts, as of Sep 11, 2026.
- CSCS, net assets: $2m (source, as filed for Apr 30, 2026).
- CSCS, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## CSCS over each window to Sep 11, 2026

| Window | Fund | CSCO | -1x the move | Difference | CSCO moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +10.1% | −9.5% | +9.5% | +0.6 pts | 36% |
| 3 months | +6.2% | −7.1% | +7.1% | −0.9 pts | 34% |
| 6 months | −33.9% | +44.4% | −44.4% | +10.5 pts | 39% |
| 1 year | −44.0% | +69.1% | −69.1% | +25.1 pts | 34% |
| Since launch | −43.4% | +68.8% | −68.8% | +25.4 pts | 32% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of CSCO, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -0.87 times, against -1 stated | ETFIQ |
| Underlying | CSCO | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $2m | source, as filed for Apr 30, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Jun 25, 2025 | ETFIQ |
| Underlying volatility over the window | 34% annualized | ETFIQ |

## Questions

### Did CSCS return -1 times CSCO?

Over the window to Sep 11, 2026, CSCO moved −7.1% and CSCS returned +6.2%. 1 times that move is +7.1%, so the fund came out 0.9 points short of it.

### Why does CSCS not return -1 times over a year?

Because it resets daily. CSCS aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, CSCS, data as of Sep 11, 2026. https://etfiq.com/funds/CSCS
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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