At a glance
PLTU charges 0.97% a year. It has $374.0M in assets; it paid 27.52% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −29.1% with distributions reinvested (S&P 500: +11.5%).
The short version
Direxion Daily PLTR Bull 2X Shares (PLTU) is a leveraged fund that aims to deliver twice the one-day return of a single stock, Palantir Technologies (PLTR). It gets most of that exposure through swap agreements that reset every trading day. Because of that daily reset, results over weeks or months can differ sharply from twice Palantir's return. The fund fell 79.7% from November 3, 2025 to June 25, 2026, and it charges 0.97% a year.
Price history
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PLTU -29.1% 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 | |
|---|---|---|---|---|---|---|
| PLTU official prospectus, to Dec 31, 2025 | — | +232.14% | — | — | — | — |
| PLTU price data to Oct 27, 2026 | -13.6% | -29.1% | — | — | — | +77.4% |
- Over the year to Oct 27, 2026, PLTU returned -29.1%.
- Its worst full calendar year was 2025 (+219.0%); its best was 2025 (+219.0%).
- The deepest fall in its price history was 79.7% (Nov 3, 2025 to Jun 25, 2026), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -13.6% | — |
| 2025 | +219.0% | +219.67% |
| 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) | $0.8000 | |
| 2025 | $17.1300 |
What's inside
As of Jul 31, 2026, the fund held 1 securities; the ten largest made up 19.52% of assets, and 102.86% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| PALANTIR TECHNOLOGIES INC | 19.52% |
By country
United States 19.52%By asset type
Stocks 19.52%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $29.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +22.42%, -46.59%, +7.71%.
How it works
PLTU does not track an index. Rafferty Asset Management runs it under the Direxion name, and it aims for 200% of Palantir's daily performance before fees. It puts at least 80% of net assets into Palantir shares and derivatives, mainly swap agreements. In a swap, a large bank agrees to pay the fund the return on a set amount of Palantir stock. As of July 31, 2026, directly held Palantir shares were about 19.5% of the fund's $374 million in net assets. The rest of its exposure came from five derivative contracts, backed by cash and short-term holdings such as money market funds and U.S. government securities.
At each market close, the manager resets exposure to 200% of net assets. After Palantir rises, the fund adds exposure. After it falls, the fund cuts back. Each day's return then compounds on the last, so the prospectus says returns over longer periods "will very likely differ" from twice Palantir's. The fund will lose money if Palantir ends flat over time, and it can lose money even when Palantir rises.
The fund is non-diversified and tied to one software company. It relies on a small number of bank counterparties and may lend up to one-third of its assets. Its board can change its objective without a shareholder vote.
What it really costs
- PLTU charges 0.97% a year.
- Of that, 0.75% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $99 in the first year and $1,190 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| PLTU | $99 | $309 | $536 | $1,190 |
In a retirement portfolio
The fund targets twice Palantir's return for a single day only, and its daily reset can erode value over the longer periods that matter to retirement savers.
PLTU launched on December 11, 2024, after the 2008, 2020 and 2022 sell-offs, so it has no record in a broad market slump. Its own short history still shows the risk. It gained 219.67% in 2025, its only full calendar year. It then fell 79.7% from November 3, 2025 to June 25, 2026, and it had not recovered as of October 27, 2026. Anyone forced to sell during that stretch would have locked in deep losses. The trailing 12-month yield was 27.52% as of October 27, 2026, paid quarterly. A fund that holds mostly swaps and cash is not built to pay steady income, though. The expense ratio is 0.97%. In the SEC's standard example, that comes to $99 on $10,000 in the first year. Past results don't predict future ones, and any 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 twice Palantir's one-day move and can watch their position every day, as the prospectus intends.
- Traders who understand swaps, daily resets and compounding, and can handle 118.7% one-year volatility as of October 27, 2026.
- Short-term speculators who want amplified Palantir exposure and can accept losing their entire stake, a risk the prospectus states directly.
Look elsewhere if
- Retirees and long-term savers: the fund fell 79.7% from November 2025 to June 2026 and had not recovered by October 27, 2026.
- Income seekers: a 27.52% trailing yield from a fund that holds mostly swaps and cash is not a dependable income stream.
- Investors who want diversification or low costs: all exposure rides on one software company, and the fund charges 0.97% a year.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Is PLTU good for long-term investing?
It is not designed for it. PLTU aims for twice Palantir's return over one trading day only. Exposure resets every day, and returns compound, so results over months can differ widely from twice Palantir's gain or loss. The fund gained 219.67% in 2025. It then fell 79.7% between November 3, 2025 and June 25, 2026, and it had not recovered as of October 27, 2026.
What's the difference between PLTU and buying PLTR stock?
PLTR is Palantir's stock itself. PLTU is a fund that tries to double PLTR's daily move, mostly through swap agreements with banks. That adds leverage, a 0.97% annual expense ratio, risk that a bank fails to pay, and compounding effects from the daily reset. As a result, PLTU can lose money over time even if PLTR's price rises, which does not happen to someone who owns the shares outright.
Does PLTU pay dividends?
Yes, it has paid distributions quarterly. The trailing 12-month yield was 27.52% as of October 27, 2026, or $17.14 per share adjusted for share splits. The fund holds mostly swaps, cash and short-term debt rather than dividend-paying stocks. A payout that large is unusual and should not be read as a steady income stream that will repeat.
What is PLTU's expense ratio?
PLTU's expense ratio is 0.97% a year, according to its prospectus filed February 26, 2026. That includes a 0.75% management fee. In the SEC's standard example, $10,000 earning 5% a year would cost about $99 after one year, $309 after three years, $536 after five years and $1,190 after ten years, assuming the shares are sold at the end of each period.
Can PLTU lose money if Palantir stock goes up?
Yes. The prospectus warns that daily rebalancing, Palantir's volatility and compounding can cause losses over time even when Palantir rises, and certain losses if Palantir ends flat. Swings are large. The fund's strongest quarter was a 119.77% gain ending June 30, 2025. As of October 27, 2026, its one-year return was -29.1%. The prospectus also says investors could lose all of their money.