At a glance
WANT charges 1.0% a year. It has $20.3M in assets; it paid 0.94% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −27.3% with distributions reinvested (S&P 500: +11.5%); over three years it returned +24.1% a year. At its worst it fell 79.1% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high. Its ten largest positions make up 37.9% of the fund, out of 47 in all.
The short version
Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) seeks three times the daily return of the Consumer Discretionary Select Sector Index, an S&P 500 sector index led by Amazon and Tesla. It is built for traders making short-term bets on consumer spending. It uses swaps and resets its leverage every day, so returns over longer periods can differ sharply from three times the index. It charges 1.00% a year and lost 83.02% in 2022.
Price history
The interactive chart needs JavaScript.
WANT -27.3% 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 | |
|---|---|---|---|---|---|---|
| WANT official prospectus, to Dec 31, 2025 | — | -6.79% | — | +0.09% | — | +10.83% |
| WANT price data to Oct 27, 2026 | -22.9% | -27.3% | +24.1% | -14.8% | — | +6.6% |
- Over the year to Oct 27, 2026, WANT returned -27.3%.
- Its 5-year annualized return was -14.8%.
- Its worst full calendar year was 2022 (-83.0%); its best was 2023 (+114.3%).
- The deepest fall in its price history was 85.9% (Nov 5, 2021 to Dec 28, 2022), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -22.9% | — |
| 2025 | -7.0% | -6.79% |
| 2024 | +60.5% | +60.23% |
| 2023 | +114.3% | +114.33% |
| 2022 | -83.0% | -83.02% |
| 2021 | +84.8% | +84.82% |
| 2020 | — | +44.82% |
| 2019 | — | +87.69% |
| 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 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 78.9% over that stretch · deepest drop along the way 79.1%, not recovered by the end of the data |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.3400 | |
| 2025 | $0.3300 | -2.9% |
| 2024 | $0.3400 | +126.7% |
| 2023 | $0.1500 |
What's inside
As of Jul 31, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (40.72% of net assets), with its exposure coming from 4 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| AMAZON.COM INC | 14.28% | |
| TESLA INC | 8.20% | |
| HOME DEPOT INC (THE) | 3.09% | |
| MCDONALD'S CORP | 2.35% | |
| TJX COMPANIES INC (THE) | 2.30% | |
| BOOKING HOLDINGS INC | 2.10% | |
| STARBUCKS CORP | 1.68% | |
| LOWE'S COMPANIES INC | 1.63% | |
| MARRIOTT INTERNATIONAL INC | 1.15% | |
| ROSS STORES INC | 1.14% | |
| GENERAL MOTORS COMPANY | 1.12% | |
| ROYAL CARIBBEAN CRUISES LTD | 1.11% | |
| DOORDASH INC | 1.04% | |
| O'REILLY AUTOMOTIVE INC | 1.04% | |
| HILTON WORLDWIDE HOLDINGS INC | 1.02% |
By country
United States 53.12%Liberia 1.11%Switzerland 0.68%Bermuda 0.62%Jersey 0.17%By asset type
Stocks 55.7%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $1.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.14%, -10.15%, -5.47%.
How it works
WANT follows the Consumer Discretionary Select Sector Index from S&P Dow Jones Indices, one of 11 Select Sector indexes. Every member is an S&P 500 company in industries such as retail, restaurants, hotels and cruise lines, carmakers, apparel and home goods. Stocks are weighted by market value, with the largest trimmed when needed to meet tax rules. The index rebalances quarterly and had 48 members as of December 31, 2025.
The fund aims for 300% of the index's return each trading day. It combines directly held stocks with swaps, which are contracts in which a counterparty, typically a bank, pays the fund the index's gains or collects its losses. As of July 31, 2026, stocks made up 55.7% of net assets, led by Amazon (14.3%) and Tesla (8.2%). Cash and cash-like holdings made up 40.7%. At each market close, adviser Rafferty Asset Management resets exposure. It adds after the index rises and cuts back after it falls, which leads to heavy trading: portfolio turnover was 63%.
Because of this daily reset, returns over longer periods compound day by day and can stray far from three times the index, usually for the worse in choppy markets. The prospectus warns the fund will lose money if the index is flat over time, and may lose money even when the index rises.
What it really costs
- WANT charges 1% a year.
- Of that, 0.75% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.03% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $102 in the first year and $1,257 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| WANT | $102 | $325 | $566 | $1,257 |
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
It resets three-times leverage daily, targets returns for a single trading day only, and lost 83.02% in 2022 alone.
WANT launched in November 2018, so it has no 2008 record, and its available price history begins in June 2020, after the COVID crash. The 2022 bear market shows the risk: the fund fell 79.1% between January 3 and October 11, 2022, and lost 83.02% for the year, its worst calendar year. Its deepest drop, 85.9% from November 2021 to December 2022, had not been recovered as of October 27, 2026. A retiree forced to raise cash in a year like that would lock in most of the loss.
Income is minor: the yield over the past year was 0.94% as of October 27, 2026, paid quarterly. The fund charges 1.00% a year, and the SEC's standard example puts costs at $1,257 over 10 years on $10,000. Past results don't predict future returns, and a plan needs to weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders who check positions daily and want three times the one-day move of consumer discretionary stocks led by Amazon and Tesla.
- Experienced investors who understand swaps, daily resets and compounding, and can stomach the 103.18% gain and 64.47% loss it posted in single quarters.
- Traders taking small, brief positions on retailers, restaurants, travel and carmakers, where a short holding period limits the impact of the 1.00% fee.
Look elsewhere if
- Retirees drawing on savings: WANT fell 85.9% between November 2021 and December 2022 and had not recovered as of October 27, 2026.
- Income seekers: WANT paid $0.36 per share over the past year, a 0.94% yield as of October 27, 2026.
- Investors wanting long-term consumer-sector exposure: daily resets mean WANT can lose money over time even when its index rises.
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 WANT good for retirement?
It isn't designed for retirement savings. WANT aims for three times the index's return over a single trading day, and the prospectus says longer-term results will very likely differ from that. In 2022 the fund lost 83.02%, and its 85.9% drop from November 2021 to December 2022 had not been recovered as of October 27, 2026. Its five-year average annual return through December 31, 2025, was 0.09%, against 10.83% a year since its November 2018 launch.
Why doesn't WANT return 3 times the consumer discretionary sector over a year?
Because its leverage resets every day. WANT targets 300% of the Consumer Discretionary Select Sector Index's return for one trading day, then rebalances at the close. Over weeks or years, each day's gain or loss compounds on the last, so the total can land well above or below three times the index. Choppy markets usually hurt: the prospectus warns the fund will lose money if the index is flat over time and can lose money even when the index rises.
What are WANT's top holdings?
Amazon and Tesla lead. As of July 31, 2026, WANT's largest stock positions were Amazon (14.3% of net assets), Tesla (8.2%), Home Depot (3.1%), McDonald's (2.3%), TJX (2.3%) and Booking Holdings (2.1%). The top 10 made up 37.9%. Directly held stocks were 55.7% of net assets, and cash and cash-like holdings were 40.7%. Swaps on the Consumer Discretionary Select Sector Index supply the rest of the fund's three-times exposure.
Does WANT pay dividends?
Yes, quarterly, but the amounts are small. WANT paid $0.36 per share over the past year, a 0.94% yield as of October 27, 2026. Income plays a minor role next to the fund's price swings. On the same date, its one-year volatility, a measure of how widely returns bounce around, was 56.7%. The fund isn't designed as an income investment.
What is WANT's expense ratio?
WANT's expense ratio, the annual fee taken from fund assets, is 1.00%, according to its prospectus filed February 26, 2026. That includes a 0.75% management fee. The SEC's standard example assumes $10,000 invested, a 5% annual return and shares redeemed at the end of each period. On that basis, total costs come to $102 after one year, $325 after three, $566 after five and $1,257 after 10. Daily rebalancing adds trading on top: portfolio turnover was 63%.