# METD (Direxion Daily META Bear 1X ETF)

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

Three months to Sep 11, 2026: METD returned −16.1% where its own daily promise gave −17.2%, 1.2 points over.

## Key facts

- METD, what META did: +14.4%, as of Sep 11, 2026.
- METD, what −1 times a day gives: −17.2%, as of Sep 11, 2026.
- METD, what the fund returned: −16.1%, as of Sep 11, 2026.
- METD, the fund itself added: +1.2 pts, as of Sep 11, 2026.
- METD, net assets: $9m (source, as filed for Apr 30, 2026).
- METD, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## METD over each window to Sep 11, 2026

| Window | Fund | META | -1x the move | Difference | META moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −11.1% | +11.9% | −11.9% | +0.8 pts | 36% |
| 3 months | −16.1% | +14.4% | −14.4% | −1.6 pts | 47% |
| 6 months | −11.7% | +5.8% | −5.8% | −5.9 pts | 44% |
| 1 year | +5.8% | −13.4% | +13.4% | −7.6 pts | 39% |
| Since launch | −34.8% | +31.9% | −31.9% | −2.9 pts | 38% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of META, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.11 times, against -1 stated | ETFIQ |
| Underlying | META | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $9m | source, as filed for Apr 30, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Jun 5, 2024 | ETFIQ |
| Underlying volatility over the window | 47% annualized | ETFIQ |

## Questions

### Did METD return -1 times META?

Over the window to Sep 11, 2026, META moved +14.4% and METD returned −16.1%. 1 times that move is −14.4%, so the fund came out 1.6 points short of it.

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

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

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