ETF Evaluator:
Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Trading--Inverse Equity Over the Last Year
| 204.3% | T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) |
| 169.7% | Defiance Daily Target 2X Short MSTR ETF (SMST) |
| 53.1% | Direxion Daily NFLX Bear 1X Shares (NFXS) |
| 39.2% | -1x Short VIX Futures ETF (SVIX) |
| 39.1% | GraniteShares 2x Short COIN Daily ETF (CONI) |
Risk
Index
Risk
Index
ETF Details
Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF Overview
Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF (DRIP) is a passively managed Miscellaneous Trading--Inverse Equity exchange-traded fund (ETF). Direxion Funds launched the ETF in 2015.
The investment seeks daily investment results of 200% of the inverse (or opposite) of the daily performance of the S&P Oil & Gas Exploration & Production Select Industry Index.
The index measures the performance of the domestic companies included in the integrated oil and gas, oil and gas exploration and production and oil and gas refining and marketing sub-industries as classified by the GICS. The fund invests at least 80% of its net assets in financial instruments, that, in combination, provide 2X daily inverse (opposite) or short exposure to the index or to ETFs that track the index, consistent with the fund’s investment objective. It is non-diversified.
About Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF (DRIP)
There are 2 members of the management team with an average tenure of 11.01 years: Tony Ng (2015) and Paul Brigandi (2015). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of -200% and S&P Oil&Gas Explor&Pro Sel Indust TR USD index with a weighting of -200%. Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF has 13 securities in its portfolio. The top 10 holdings constitute 112.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -5.3% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF has 105.3% of the portfolio in cash.
Assets Under Management
The fund has $100 million in total assets, which is above the $75 million average for the Trading--Inverse Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DRIP Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF expense ratio is high compared to funds in the Trading--Inverse Equity category. Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF has an expense ratio of 1.01%, which is 12% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 1085% for the Trading--Inverse Equity category.
Recently, in the month of July 2026, Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF returned -25.6%, which earned it a grade of F, as the Trading--Inverse Equity category had an average return of 7.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF has a trailing yield of 3.92%, which is below the 5.32% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF Grades
Year to date, the ETF has returned -55.3%, 29.5 percentage points worse than the category, which translates into a grade of F. The fund has returned -56.5% over the past year (grade of F), -26.0% over the past three years (grade of C) and -45.3% per year over the past five years (grade of F) and -55.8% per year over the past 10 years (grade of F).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Direxion Dly S&P Oil&Gs Ex&Prd Br 2X ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
DRIP Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DRIP Return (NAV) | -25.6% | -4.5% | -56.5% | -26.0% | -45.3% | -55.8% |
| DRIP Return (Price) | -25.5% | -4.3% | -56.4% | -26.0% | -45.2% | -55.8% |
| NAV +/- Price Return | -0.072% | -0.225% | -0.116% | -0.033% | -0.018% | -0.005% |
| Trading--Inverse Equity Avg | 7.3% | -12.0% | -29.4% | -28.2% | -22.9% | -29.6% |
| DRIP Grade (NAV) | F | B | F | C | F | F |
| +/- Category (NAV) | -32.9% | 7.5% | -27.1% | 2.2% | -22.3% | -26.2% |
| DRIP Tax-Cost Ratio | na | na | 1.0% | 1.4% | 1.1% | 0.6% |
DRIP Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DRIP Return (NAV) | -55.3% | -14.8% | 1.2% | -17.1% | -73.6% | -79.7% | -95.2% | -36.1% | 49.1% | -9.0% | -87.6% |
| DRIP Return (Price) | -55.3% | -14.8% | 1.3% | -17.1% | -73.6% | -79.7% | -95.2% | -36.1% | 49.7% | -9.0% | -87.5% |
| NAV +/- Price Ret | 0.000% | -0.004% | 0.115% | -0.000% | -0.000% | 0.000% | 0.000% | 0.2% | 1.1% | 0.1% | -0.1% |
| Trading--Inverse Equity Avg | -25.8% | -35.3% | -26.4% | -26.2% | 15.2% | -33.5% | -52.3% | -39.8% | 9.5% | -34.8% | -33.2% |
| DRIP Grade (NAV) | F | B | A | B | F | F | F | C | A | A | F |
| +/- Category | -29.5% | 20.4% | 27.6% | 9.1% | -88.8% | -46.2% | -42.9% | 3.7% | 39.6% | 25.7% | -54.3% |
| Risk Measures | |
| Beta: | 0.05 |
| R-Squared: | 0% |
| Standard Deviation: | 43.3% |
| Category Risk Index: | 1.12 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 3.53 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 3.9% |
| Total Assets: | $ 100 Mil |
| Share Class Assets: | $ 100 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 1.01% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | -200% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.2 years | |||
| Average Tenure: 11.0 years | |||
| Managers (Year): Brigandi Paul (2015), Ng Tony (2015) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 13 |
| % in Top 10 Holdings: | 112.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | -5.3% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 105.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Direxion Funds |
| Phone Number: | 866-476-7523 |
| Website: | http://www.direxioninvestments.com/ |
| Inception Date: | May 28, 2015 |
Expenses and Fees
| Expense Ratio (%): | 1.01% (Rating: High) |
| Category Average Expense Ratio (%): | 1.15% |
