At a glance
RETL charges 0.96% a year. It has $27.9M in assets; it paid 0.83% of its price in distributions over the past 12 months, semiannual. Over the past year it returned −11.9% with distributions reinvested (S&P 500: +11.5%); over three years it returned +20.6% a year. At its worst it fell 83.7% in the 2020 crash (S&P 500: 33.7%) and 83.7% in the 2022 bear market (S&P 500: 24.5%). Its ten largest positions make up 12.1% of the fund, out of 75 in all.
The short version
Direxion Daily Retail Bull 3X Shares (RETL) aims for three times the daily return of the S&P Retail Select Industry Index. That index holds US retail stocks in a modified equal-weighted mix, and the fund uses stocks and swap contracts to get its exposure. It is built for short-term traders betting on retailers: its leverage resets daily, so longer-term returns can differ sharply from three times the index. It charges 0.96% a year and fell 92% from its November 2021 peak to April 2025.
Price history
The interactive chart needs JavaScript.
RETL -11.9% 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 | |
|---|---|---|---|---|---|---|
| RETL official prospectus, to Dec 31, 2025 | — | -5.82% | — | -11.82% | -3.80% | — |
| RETL price data to Oct 27, 2026 | -8.2% | -11.9% | +20.6% | -25.6% | -5.1% | +13.7% |
- Over the year to Oct 27, 2026, RETL returned -11.9%.
- Its 5-year annualized return was -25.6% and its 10-year -5.1%.
- In the 2020 COVID crash it fell 83.7% and regained its old high 6.5 months after the low.
- Its worst full calendar year was 2022 (-80.8%); its best was 2013 (+137.6%).
- The deepest fall in its price history was 92% (Nov 16, 2021 to Apr 8, 2025), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -8.2% | — |
| 2025 | -5.9% | -5.82% |
| 2024 | +9.6% | +9.13% |
| 2023 | +33.7% | +34.25% |
| 2022 | -80.8% | -80.85% |
| 2021 | +101.0% | +101.73% |
| 2020 | +63.0% | +62.24% |
| 2019 | +23.5% | +23.00% |
| 2018 | -35.2% | -35.02% |
| 2017 | -1.3% | -1.65% |
| 2016 | -0.9% | -0.12% |
| 2015 | +44.3% | — |
| 2014 | +32.7% | — |
| 2013 | +137.6% | — |
| 2012 | +77.7% | — |
| 2011 | +7.4% | — |
| 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 | Lost 82.7% over that stretch · deepest drop along the way 83.7%, back to its old high 6.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 82.2% over that stretch · deepest drop along the way 83.7%, not recovered by the end of the data |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.0700 | |
| 2025 | $0.0600 | -45.5% |
| 2024 | $0.1100 | -15.4% |
| 2023 | $0.1300 | +160.0% |
| 2022 | $0.0500 | -41.9% |
| 2021 | $0.0860 | +138.9% |
| 2020 | $0.0360 | -66.7% |
| 2019 | $0.1080 | 0.0% |
| 2018 | $0.1080 | +21500.0% |
| 2017 | $0.0005 | -99.9% |
| 2016 | $0.3800 | +89.7% |
| 2012 | $0.2003 | +107.1% |
| 2011 | $0.0967 |
What's inside
As of Jul 31, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (34.08% of net assets), with its exposure coming from 4 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| GROUPON INC | 1.44% | |
| REALREAL INC (THE) | 1.27% | |
| LITHIA MOTORS INC | 1.21% | |
| NATIONAL VISION HOLDINGS INC | 1.20% | |
| REVOLVE GROUP INC | 1.18% | |
| PENSKE AUTOMOTIVE GROUP INC | 1.17% | |
| KOHL'S CORP | 1.16% | |
| VICTORIA'S SECRET & COMPANY | 1.14% | |
| ETSY INC | 1.14% | |
| CARMAX INC | 1.13% | |
| ASBURY AUTOMOTIVE GROUP INC | 1.12% | |
| ABERCROMBIE & FITCH COMPANY | 1.12% | |
| DOLLAR GENERAL CORP | 1.11% | |
| DOLLAR TREE INC | 1.11% | |
| SALLY BEAUTY HOLDINGS INC | 1.10% |
By country
United States 71.44%Bermuda 1.04%By asset type
Stocks 72.48%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $7.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -8.25%, +12.31%, +5.43%.
How it works
RETL tracks the S&P Retail Select Industry Index. The index starts with the S&P Total Market Index of US stocks. It keeps companies in the retail sub-industry of the Global Industry Classification Standard (GICS), a common system for sorting businesses. Members must pass size and trading-volume tests, starting at more than $300 million in market value. The index is "modified equal-weighted," so companies get similar weights regardless of size. It rebalances quarterly and had 73 members as of December 31, 2025.
To reach three times the daily move, the fund holds index stocks and adds swap agreements. In a swap, a financial firm (the counterparty) pays the fund the index's return for a fee. The fund may also use futures. As of July 31, 2026, stocks made up about 72% of net assets, alongside four index swaps and about 34% in cash. At each market close, the adviser, Rafferty Asset Management, resets exposure. It adds exposure after up days and trims it after down days.
Because of this daily reset, returns over any longer period compound and will very likely differ from three times the index. They are usually worse in choppy markets. The prospectus warns that the fund will lose money if the index is flat over time and can lose money even when the index rises.
What it really costs
- RETL charges 0.96% 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 $98 in the first year and $1,178 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| RETL | $98 | $306 | $531 | $1,178 |
Structure and tax notes
- Resets its exposure every day. Over periods longer than a day, compounding means returns can differ sharply from 3× the index — usually worse in choppy markets. Built for short-term trading, not buy-and-hold.
In a retirement portfolio
Its 3x leverage resets daily, and the prospectus says it does not aim for its target over any period longer than one trading day.
RETL launched in 2010, so it missed the 2008 crisis. In the 2020 COVID crash it fell 83.7% between February 20 and March 23, 2020, then regained that level by October 8, 2020. In the 2022 bear market it dropped 83.7% again and had not recovered as of October 27, 2026. It lost about 81% in calendar 2022, its worst year. Its deepest drop was 92%, from November 2021 to April 2025. Anyone who needs to draw cash during a slump could lock in losses of that size.
Income is small: the yield was 0.83% as of October 27, 2026, paid twice a year. Its 0.96% annual fee, or expense ratio, adds up to $1,178 over 10 years in the SEC's standard $10,000 example. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders seeking three times the one-day move of US retail stocks who can monitor positions daily and exit quickly.
- Traders wanting an equal-weighted mix of auto dealers, apparel chains and dollar stores; the largest, Groupon, was 1.4% of assets on July 31, 2026.
- Short-term traders who want leverage without a margin loan and accept swap counterparty risk plus a 0.96% expense ratio.
Look elsewhere if
- Retirement savers: it lost an average 3.80% a year over the 10 years to December 31, 2025, and fell 92% from its 2021 peak.
- Income seekers: the 12-month yield was 0.83% as of October 27, 2026, paid twice a year, below the 0.96% expense ratio.
- Investors uneasy with big swings: the fund lost 79.67% in the quarter ending March 31, 2020, and 80.85% in calendar 2022.
Close alternatives
Matched by leveraged/inverse funds on the same index (the index could not be identified from the name).
No close alternatives found.
Questions investors ask
Is RETL a good long-term investment?
RETL is not built for long-term holding. Its prospectus says it aims for three times the index's return over a single trading day only. Over the 10 years ending December 31, 2025, it lost an average of 3.80% a year, and over five years it lost 11.82% a year. Its price fell 92% from November 2021 to April 2025 and had not recovered as of October 27, 2026.
Why can RETL lose money when retail stocks go up?
RETL resets its leverage every day, so its returns compound one day at a time. In choppy markets, a big percentage loss needs an even bigger gain to recover, and leverage magnifies that effect. The prospectus says the fund will lose money if the index is flat over time and could lose money even if the index rises. The 3x target applies only from one market close to the next.
What stocks are in RETL?
RETL holds about 75 US-listed retail stocks in roughly equal amounts, plus swaps that add leverage. As of July 31, 2026, the largest positions were Groupon (1.4%), The RealReal (1.3%), Lithia Motors (1.2%), National Vision (1.2%) and Revolve Group (1.2%). Next came Penske Automotive, Kohl's, Victoria's Secret, Etsy and CarMax. The top 10 made up about 12% of assets. Stocks were about 72% of net assets, with four swaps on the S&P Retail Select Industry Index and about 34% in cash.
Does RETL pay dividends?
Yes, but the payouts are small. RETL pays distributions twice a year, and its 12-month yield was 0.83% as of October 27, 2026, or about $0.07 per share. That is less than the fund's 0.96% expense ratio. Price swings matter far more. One-year volatility, a measure of how widely returns vary, was 61.2% as of the same date.
What is RETL's expense ratio?
RETL's expense ratio, the yearly fee taken from fund assets, is 0.96%, according to its prospectus filed February 26, 2026. That includes a 0.75% management fee. The SEC's standard example assumes $10,000 invested and a 5% yearly return. On that basis, total costs would be about $98 after one year, $306 after three, $531 after five and $1,178 after 10. The prospectus also reports 71% portfolio turnover, and trading costs from that activity are not included in the expense ratio.