# METD (Direxion Daily META Bear 1X ETF)

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

Three months to Sep 30, 2026: METD returned −19.3% where its own daily promise gave −20.5%, 1.2 points over.

## Key facts

- METD, what META did: +18.4%, as of Sep 30, 2026.
- METD, what −1 times a day gives: −20.5%, as of Sep 30, 2026.
- METD, what the fund returned: −19.3%, as of Sep 30, 2026.
- METD, the fund itself added: +1.2 pts, as of Sep 30, 2026.
- METD, net assets: $16m (issuer page, as of Sep 30, 2026).
- METD, expense ratio: 1.02% (485BPOS XBRL, Feb 26, 2026).

## METD over each window to Sep 30, 2026

| Window | Fund | META | -1x the move | Difference | META moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −23.0% | +26.8% | −26.8% | +3.8 pts | 55% |
| 3 months | −19.3% | +18.4% | −18.4% | −0.9 pts | 49% |
| 6 months | −25.9% | +25.4% | −25.4% | −0.5 pts | 46% |
| 1 year | −9.7% | −0.9% | +0.9% | −10.7 pts | 42% |
| Since launch | −42.9% | +47.7% | −47.7% | +4.8 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 | -1.05 times, against -1 stated | ETFIQ |
| Underlying | META | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $16m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.02% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jun 5, 2024 | ETFIQ |
| Underlying volatility over the window | 49% annualized | ETFIQ |

## Questions

### Did METD return -1 times META?

Over the window to Sep 30, 2026, META moved +18.4% and METD returned −19.3%. −1 times that move is −18.4%, so the fund came out 0.9 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 30, 2026. https://etfiq.com/funds/metd
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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