{
 "ticker": "TSXD",
 "name": "Direxion Daily Semiconductors Top 5 Bear 2X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/TSXD",
 "html": "https://etfiq.com/funds/TSXD",
 "markdown": "https://etfiq.com/funds/TSXD.md",
 "as_of": "2026-09-11",
 "verdict": "TSXD aims to return -2 times Semiconductors Top 5's move each day, then resets. Over one day it does that.",
 "key_facts": [
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$1m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "TSXD, net assets: $1m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.99%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-11",
   "sentence": "TSXD, expense ratio: 0.99% (485BPOS XBRL, Feb 26, 2026)."
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "Semiconductors Top 5 (no investable tracker)",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TSXD, underlying: Semiconductors Top 5 (no investable tracker), as of Sep 11, 2026."
  },
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-2 times the daily move of Semiconductors Top 5, reset daily",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TSXD, sets out to return: -2 times the daily move of Semiconductors Top 5, reset daily, as of Sep 11, 2026."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-2 times the daily move of Semiconductors Top 5, reset daily",
   "source": null
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "Semiconductors Top 5 (no investable tracker)",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "broad index, index variant",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$1m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.99%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Oct 1, 2025",
   "source": null
  }
 ],
 "periods": [],
 "questions": [
  {
   "q": "Why does TSXD not return -2 times over a year?",
   "a": "Because it resets daily. TSXD 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."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}