# AVS (Direxion Daily AVGO Bear 1X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: AVS returned +2.9% where its own daily promise gave +1.1%, 1.8 points over.

## Key facts

- AVS, what AVGO did: −4.7%, as of Sep 30, 2026.
- AVS, what −1 times a day gives: +1.1%, as of Sep 30, 2026.
- AVS, what the fund returned: +2.9%, as of Sep 30, 2026.
- AVS, the fund itself added: +1.8 pts, as of Sep 30, 2026.
- AVS, net assets: $8m (issuer page, as of Sep 30, 2026).
- AVS, expense ratio: 1.03% (485BPOS XBRL, Feb 26, 2026).

## AVS over each window to Sep 30, 2026

| Window | Fund | AVGO | -1x the move | Difference | AVGO moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +5.0% | −5.0% | +5.0% | 0.0 pts | 30% |
| 3 months | +2.9% | −4.7% | +4.7% | −1.9 pts | 39% |
| 6 months | −17.7% | +12.4% | −12.4% | −5.3 pts | 47% |
| 1 year | −19.9% | +7.2% | −7.2% | −12.6 pts | 46% |
| Since launch | −65.1% | +92.4% | −92.4% | +27.3 pts | 52% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of AVGO, reset daily | ETFIQ |
| Multiple a holder actually got over the window | AVGO moved −4.7% over this window, too little to read a multiple from | ETFIQ |
| Underlying | AVGO | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $8m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.03% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Oct 10, 2024 | ETFIQ |
| Underlying volatility over the window | 39% annualized | ETFIQ |

## Questions

### Did AVS return -1 times AVGO?

Over the window to Sep 30, 2026, AVGO moved −4.7% and AVS returned +2.9%. −1 times that move is +4.7%, so the fund came out 1.9 points short of it.

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

Because it resets daily. AVS 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, AVS, data as of Sep 30, 2026. https://etfiq.com/funds/avs
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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