# CSCS (Direxion Daily CSCO Bear 1X ETF)

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

Three months to Sep 30, 2026: CSCS returned +6.7% where its own daily promise gave +5.3%, 1.4 points over.

## Key facts

- CSCS, what CSCO did: −7.7%, as of Sep 30, 2026.
- CSCS, what −1 times a day gives: +5.3%, as of Sep 30, 2026.
- CSCS, what the fund returned: +6.7%, as of Sep 30, 2026.
- CSCS, the fund itself added: +1.4 pts, as of Sep 30, 2026.
- CSCS, net assets: $2m (issuer page, as of Sep 30, 2026).
- CSCS, expense ratio: 1.00% (485BPOS XBRL, Feb 26, 2026).

## CSCS over each window to Sep 30, 2026

| Window | Fund | CSCO | -1x the move | Difference | CSCO moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +2.4% | −2.6% | +2.6% | −0.2 pts | 27% |
| 3 months | +6.7% | −7.7% | +7.7% | −1.0 pts | 34% |
| 6 months | −31.6% | +39.4% | −39.4% | +7.8 pts | 39% |
| 1 year | −41.3% | +60.5% | −60.5% | +19.2 pts | 34% |
| Since launch | −41.3% | +62.0% | −62.0% | +20.8 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 | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.00% | 485BPOS XBRL, Feb 26, 2026 |
| 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 30, 2026, CSCO moved −7.7% and CSCS returned +6.7%. −1 times that move is +7.7%, so the fund came out 1.0 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 30, 2026. https://etfiq.com/funds/cscs
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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