At a glance
PLTD charges 1.5% a year. It has $152.3M in assets; it paid 4.26% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −29.0% with distributions reinvested (S&P 500: +11.5%). Its ten largest positions make up 28.1% of the fund, out of 391 in all.
The short version
Direxion Daily PLTR Bear 1X Shares (PLTD) bets against a single stock, Palantir Technologies (PLTR). Its prospectus, filed April 30, 2026, says it aims to return −200% of PLTR's performance for one trading day at a time, mainly through swap contracts that reset daily. It charges 1.5% a year and lost 70.5% in 2025. It is built for short-term trading, not long holding.
Price history
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PLTD -29.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| PLTD price data to Oct 27, 2026 | -30.9% | -29.0% | — | — | — | -58.4% |
- Over the year to Oct 27, 2026, PLTD returned -29.0%.
- Its worst full calendar year was 2025 (-70.5%); its best was 2025 (-70.5%).
- The deepest fall in its price history was 83.1% (Jan 13, 2025 to Oct 9, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -30.9% |
| 2025 | -70.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1400 | |
| 2025 | $0.3400 |
What's inside
As of Jul 31, 2026, the fund held 391 securities; the ten largest made up 28.13% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 7.79% | |
| MICROSOFT CORPORATION | 5.05% | |
| CISCO SYSTEMS, INC. | 2.94% | |
| BROADCOM INC. | 2.73% | |
| WALMART INC. | 1.73% | |
| BERKSHIRE HATHAWAY INC. | 1.68% | |
| ELI LILLY AND COMPANY | 1.67% | |
| MASTERCARD INCORPORATED | 1.56% | |
| EXXONMOBIL HOLDINGS CORPORATION | 1.56% | |
| MICRON TECHNOLOGY, INC. | 1.43% | |
| ADVANCED MICRO DEVICES, INC. | 1.34% | |
| ARISTA NETWORKS, INC. | 1.32% | |
| APPLIED MATERIALS, INC. | 1.23% | |
| THE HOME DEPOT, INC. | 1.19% | |
| TESLA, INC. | 1.02% |
By country
United States 95.22%Ireland 2.44%Switzerland 0.94%Luxembourg 0.44%Canada 0.3%By asset type
Stocks 99.86%By sector
Sectors of the companies held, for the 85.4% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $19K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.79%, +1.03%, -1.11%.
How it works
This fund does not track an index. It aims to move opposite to one stock, Palantir Technologies (PLTR), for a single trading day, measured from one market close to the next. The fund's name says 1X, but the prospectus filed April 30, 2026 targets 200% of the opposite of PLTR's daily return, before fees and expenses. That gap is worth confirming with Direxion.
The adviser, Rafferty Asset Management, uses three tools. Swaps are contracts in which a bank pays the fund when PLTR falls and collects when it rises. Put options, including exchange-listed FLEX options with custom terms, gain value as PLTR drops. Short sales mean selling borrowed PLTR shares and buying them back later. The mix depends on cost, liquidity and bank capacity. Cash sits in money market funds and short-term, high-quality debt such as U.S. government securities.
At each market close, the adviser resets the exposure. If PLTR falls, the fund's assets grow, so it adds exposure; if PLTR rises, it trims. Because daily returns compound, results over longer periods can differ sharply from the stated multiple of PLTR's move, especially when the stock swings. The fund issues and redeems shares mostly for cash, so it is not expected to be tax efficient. Holders could lose all their money.
What it really costs
- PLTD charges 1.5% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $153 in the first year and $— over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| PLTD | $153 | $474 | $— | $— |
In a retirement portfolio
It targets twice the opposite of one stock's return for a single day, and its daily reset makes long holding periods unpredictable.
PLTD launched on December 11, 2024, so it has no record from the 2008, 2020 or 2022 downturns. Its own history is severe. It lost 70.5% in 2025, its only full calendar year. From January 13, 2025 to October 9, 2026, it fell 83.1%, and it had not recovered as of October 27, 2026. Since launch it was down 58.4%, and its one-year volatility was 63.6%. Anyone who had to sell shares for spending money during that stretch would have locked in deep losses. The trailing yield was 4.26% as of October 27, 2026, paid quarterly, which is small next to those price swings. Costs are high: the SEC's standard example puts expenses at $153 on $10,000 in the first year and $474 over three years. Past results don't predict future ones, and any retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders who want a one-day, two-times bet against Palantir stock and can watch the position every trading day.
- Experienced investors looking for a brief hedge on a large PLTR stake who accept the daily reset and the 1.5% expense ratio.
- Traders who understand swaps, counterparty risk and compounding, and can handle one-year volatility of 63.6% as of October 27, 2026.
Look elsewhere if
- Retirees and buy-and-hold investors: it lost 70.5% in 2025 and was down 83.1% from its peak by October 9, 2026.
- Anyone who wants diversification: it is built around one company, Palantir, and is concentrated in the software industry.
- Income seekers: the 4.26% trailing yield as of October 27, 2026 is small next to the fund's losses and price swings.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Is PLTD good for long-term investing?
No. PLTD is designed for single-day results. Its prospectus says it does not seek its objective over any period longer than one trading day. Because exposure resets every day, longer-term returns can drift far from −200% of Palantir's move. The fund lost 70.5% in 2025 and was down 58.4% from its December 11, 2024 launch through October 27, 2026. It may suit short-term traders rather than long-term holders.
Is PLTD 1x or 2x inverse Palantir?
The prospectus filed April 30, 2026 describes a 2x inverse objective, even though the fund's name says "Bear 1X." It seeks daily results of 200% of the inverse of PLTR's daily performance, before fees and expenses. So if Palantir falls 1% in a day, the fund aims to rise about 2%, and the reverse when it rises. Its one-year beta of −2.27 as of October 27, 2026 is consistent with roughly double inverse exposure.
Can PLTD lose money even if Palantir stock goes down?
Yes. The fund resets its exposure every day, and each day's return compounds on the last. When PLTR swings up and down sharply, those daily resets can wear away value. As a result, the fund can lose money over weeks or months even when Palantir ends lower. The prospectus warns that results over periods longer than a day are very likely to differ from −200% of PLTR's return, and that investors could lose all of their money.
What is PLTD's expense ratio?
PLTD's expense ratio is 1.5% a year, according to its April 30, 2026 prospectus, and all of it is management fee. In the SEC's standard example, $10,000 invested with a 5% annual return would cost about $153 in the first year and $474 over three years. Trading costs also add up, because the fund rebalances daily and handles creations and redemptions mostly in cash, which also makes it less tax-efficient than most ETFs.
Does PLTD pay dividends?
Yes, PLTD pays distributions quarterly. Over the 12 months through October 27, 2026, it paid about $0.19 per share, a trailing yield of 4.26%. That income does little to offset the fund's price risk. PLTD fell 29% over the year ending October 27, 2026 and 70.5% in 2025. Anyone looking at it for income is mainly taking on a leveraged bet against one stock, not buying a steady payer.