DFEN
Direxion Daily Aerospace & Defense Bull 3X Shares

Price: $22.77
Change: $0.35 (0.02%)
Category: Leveraged Equities
Last Updated:

Vitals

Brand Direxion
Structure ETF
Expense Ratio 0.99%
ETF Home Page Home page
Inception May 03, 2017

Analyst Report

The Direxion Daily Aerospace & Defense Bull 3X Shares aims to triple the daily return of an index of defense industry stocks like Boeing, United Technologies, Lockheed Martin and Raytheon.


DFEN, like all leveraged products, is designed for short-term trading by sophisticated investors. DFEN rebalances daily, which means its performance over longer time periods will diverge significantly from the underlying stocks. The daily reset means that DFEN could lose money over time even if the underlying equities have posted a gain, which can come as a rude surprise to buy-and-hold investors who don’t read the fine print.


DFEN is ideal for traders looking for a way to place an ultra-short-term high-conviction wager on a rally in defense industry stocks. The management fee of 99 basis points might seem high in the world of passive investments, but it’s in line with other leveraged products and shouldn’t be a major concern for traders who plan to cash out of their positions quickly.


For longer-term investors who want passive exposure to defense stocks without the complications of leverage, BlackRock’s iShares U.S. Aerospace & Defense ETF (ITA) tracks the same underlying index as DFEN, and State Street’s SPDR S&P Aerospace and Defense ETF (XAR) tracks an MSCI index and invests in many of the same companies. XAR charges a fee of 35 basis points, which is high for an index-tracking ETF but cheaper than competitors including ITA, FITE, PPA and ROKT.

ETF Database Themes

Leveraged 3x
Asset Class Equity
Asset Class Size Multi-Cap
Asset Class Style Blend
Sector (General) Industrials
Sector (Specific) Aerospace & Defense
Region (General) North America
Region (Specific) U.S.

FactSet Classifications

  • Segment Leveraged Equity: U.S. Aerospace & Defense
  • Category Sector
  • Focus Industrials
  • Niche Aerospace & Defense
  • Strategy Vanilla
  • Weighting Scheme Market Cap

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $8.42
  • 52 Week Hi $26.97
  • AUM $305.7 M
  • Shares 13.7 M

Historical Trading Data

  • 1 Month Avg. Volume 1,017,743
  • 3 Month Avg. Volume 944,464

Alternative ETFs in the ETF Database Leveraged Equities Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SPUU 0.64% $53.6 M 18,920 41.94%
Largest (AUM) TQQQ 0.95% $15.7 B 33 M 49.30%
Most Liquid (Volume) SQQQ 0.95% $1.7 B 94 M -48.55%
Top YTD Performer NRGU 0.95% $714.2 M 421,124 217.15%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

DFEN ETF Database Category Average FactSet Segment Average
Number of Holdings 37 93 37
% of Assets in Top 10 83.32% 76.01% 83.32%
% of Assets in Top 15 95.11% 78.96% 95.11%
% of Assets in Top 50 100.00% 85.93% 100.00%

Size Comparison

DFEN ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A 33.55% N/A
Mid (>2.7B) N/A 12.61% N/A
Small (>600M) N/A 4.86% N/A
Micro (<600M) N/A 1.89% N/A

DFEN Valuation

This section compares the P/E ratio of this ETF to its peers.

DFEN
P/E Ratio
N/A
ETF Database Category Average
P/E Ratio
6.38
FactSet Segment Average
P/E Ratio
N/A

DFEN Dividend

This section compares the dividend yield of this ETF to its peers.

DFEN ETF Database Category Average FactSet Segment Average
Dividend $ 0.01 $ 0.09 $ 0.01
Dividend Date 2021-03-23 N/A N/A
Annual Dividend Rate $ 0.01 $ 0.14 $ 0.01
Annual Dividend Yield 0.06% 0.21% 0.06%

DFEN Price and Volume Chart

DFEN Fund Flows

View charts featuring ETF fund flow data.

5 Day Net Flows: -19.23 M 1 Month Net Flows: -36.99 M 3 Month Net Flows: -36.53 M 6 Month Net Flows: -57.56 M 1 Year Net Flows: -120.67 M 3 Year Net Flows: 110.68 M 5 Year Net Flows: 144.75 M 10 Year Net Flows: 144.75 M

DFEN Price vs Flows AUM Influence

View charts that break down the influence that fund flows and price had on overall assets.

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for DFEN on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Leveraged Equities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity n/a n/a
Expenses n/a n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

DFEN Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

DFEN
Expense Ratio
0.99%
ETF Database Category Average
Expense Ratio
1.04%
FactSet Segment Average
Expense Ratio
0.99%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores

DFEN does not have an ESG score. There are no ESG themes that map to this ETF.

DFEN Performance

This section shows how this ETF has performed relative to its peers.

DFEN ETF Database
Category Average
Factset Segment
Average
1 Month Return 16.71% 0.98% 16.71%
3 Month Return 6.15% 0.33% 6.15%
YTD Return 34.72% 9.52% 34.72%
1 Year Return 96.89% 34.19% 96.89%
3 Year Return -53.06% 19.32% -53.06%
5 Year Return N/A 66.82% 0.00%

Geographic Exposure

The following charts reflect the geographic spread of DFEN's underlying holdings.

Holdings Analysis

The following charts reflect the allocation of DFEN's underlying holdings.

DFEN Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility
232.44%
Rank
41 of 138

20 Day Volatility
46.42%
Rank
74 of 138

50 Day Volatility
45.12%
Rank
54 of 137

200 Day Volatility
51.81%
Rank
40 of 135

Beta
3.77
Rank
12 of 135

Standard Deviation
3.96%
Rank
98 of 125

Technicals

  • 20 Day MA $21.51
  • 60 Day MA $21.73
  • MACD 15 Period 0.76
  • MACD 100 Period -0.07
  • Williams % Range 10 Day 29.69
  • Williams % Range 20 Day 17.07
  • RSI 10 Day 63
  • RSI 20 Day 56
  • RSI 30 Day 53
  • Ultimate Oscillator 46

Bollinger Bands

  • Lower Bollinger (10 Day) $21.19
  • Upper Bollinger (10 Day) $23.45
  • Lower Bollinger (20 Day) $19.15
  • Upper Bollinger (20 Day) $23.86
  • Lower Bollinger (30 Day) $18.69
  • Upper Bollinger (30 Day) $23.42

Support & Resistance

  • Support Level 1 $22.56
  • Support Level 2 $22.36
  • Resistance Level 1 $23.06
  • Resistance Level 2 $23.36

Stochastic

  • Stochastic Oscillator %D (1 Day) 37.59
  • Stochastic Oscillator %D (5 Day) 55.67
  • Stochastic Oscillator %K (1 Day) 42.28
  • Stochastic Oscillator %K (5 Day) 61.06

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

Disclosures

Copyright © 2021 FactSet Research Systems Inc. All rights reserved.

Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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