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About Direxion Daily Small Cap Bear 3X ETF
TZA tracks the value of 1 share of the Direxion Daily Small Cap Bear 3X ETF. The ETF seeks daily investment results of three times the inverse of the performance of the Russell 2000 Index. Because it resets every day, its returns compound over time and TZA can lose value — even when small-cap stocks fall — if held for longer than a single trading day.
TZA aggregates listings across every venue CoinBeaver tracks. Prices blend synthetic perpetual markets and do not represent ownership of the underlying shares, ETFs, commodities, or cash instruments. Educational market data only — not investment advice.
Sector tags: Equity Indices.
Frequently Asked Questions
- What is TZA?
- TZA tracks the value of 1 share of the Direxion Daily Small Cap Bear 3X ETF. The ETF seeks daily investment results of three times the inverse of the performance of the Russell 2000 Index.
- Does trading TZA give me any of the rights of owning shares in the underlying ETF?
- No. TZA is a synthetic perpetual with no delivery mechanism or arbitrage bridge to the underlying ETF's shares. It gives price exposure only — there are no shareholder rights, no dividends, no voting rights, and no claim on the underlying fund.
- Where is TZA listed, and in what currency does TZA trade?
- TZA is listed on NYSE Arca, and its shares trade in U.S. dollars. TZA's price already reflects that U.S. dollars, with no currency conversion involved.
- Why can TZA lose value even when small-cap stocks are falling?
- TZA seeks three times the inverse of the Russell 2000 Index's daily move, and that target resets every trading day. Because returns compound through the daily reset, the fund's outcome is path-dependent beyond a single day: in volatile or flat markets, TZA can lose value even when the Russell 2000 Index falls over the same period.
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