# DRIP (Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF)

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

Three months to Sep 11, 2026: DRIP returned −31.2% where its own daily promise gave −33.2%, 1.9 points over.

## Key facts

- DRIP, what XOP did: +18.9%, as of Sep 11, 2026.
- DRIP, what −2 times a day gives: −33.2%, as of Sep 11, 2026.
- DRIP, what the fund returned: −31.2%, as of Sep 11, 2026.
- DRIP, the fund itself added: +1.9 pts, as of Sep 11, 2026.
- DRIP, net assets: $125m (source, as filed for Apr 30, 2026).
- DRIP, expense ratio: 1.01% (485BPOS XBRL, Feb 26, 2026).

## DRIP over each window to Sep 11, 2026

| Window | Fund | XOP | -2x the move | Difference | XOP moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −16.6% | +9.6% | −19.2% | +2.6 pts | 16% |
| 3 months | −31.2% | +18.9% | −37.9% | +6.7 pts | 27% |
| 6 months | −33.5% | +17.6% | −35.2% | +1.7 pts | 30% |
| 1 year | −62.7% | +52.4% | −104.9% | +42.2 pts | 29% |
| 3 years | −62.0% | +36.5% | −73.1% | +11.1 pts | 28% |
| Since launch | −99.8% | +22.1% | −44.2% | −55.6 pts | 40% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of XOP, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.65 times, against -2 stated | ETFIQ |
| Underlying | XOP | ETFIQ |
| Segment | asset class, commodity | ETFIQ |
| Net assets | $125m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.01% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | May 29, 2015 | ETFIQ |
| Underlying volatility over the window | 27% annualized | ETFIQ |

## Questions

### Did DRIP return -2 times XOP?

Over the window to Sep 11, 2026, XOP moved +18.9% and DRIP returned −31.2%. 2 times that move is −37.9%, so the fund came out 6.7 points ahead of it.

### Why does DRIP not return -2 times over a year?

Because it resets daily. DRIP aims at -2 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 -2 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, DRIP, data as of Sep 11, 2026. https://etfiq.com/funds/DRIP
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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