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DPK ETF — Holdings & Analysis

The Direxion Daily MSCI Developed Markets Bear 3X Shares (DPK) offers a leveraged inverse exposure to the MSCI EAFE Index, seeking to magnify the index's daily losses by 300%. With an expense ratio of 1.08% and assets under management of $0.01 billion, DPK is designed for sophisticated investors seeking short-term, tactical exposure to developed market equities, excluding the US and Canada. It uses financial instruments like swap agreements and futures contracts to achieve its leveraged inverse objective. Past performance does not guarantee future results.

Direxion Daily MSCI Developed Markets Bear 3X Shares (DPK) ETF — Price, Holdings & Analysis

The Direxion Daily MSCI Developed Markets Bear 3X Shares (DPK) offers a leveraged inverse exposure to the MSCI EAFE Index, seeking to magnify the index's daily losses by 300%. With an expense ratio of 1.08% and assets under management of $0.01 billion, DPK is designed for sophisticated investors seeking short-term, tactical exposure to developed market equities, excluding the US and Canada. It uses financial instruments like swap agreements and futures contracts to achieve its leveraged inverse objective. Past performance does not guarantee future results.

ETF Overview

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the MSCI EAFEÂ Index. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the index equal to at least 80% of the fund's net assets (plus borrowing for investment purposes). The index is a free float-adjusted market capitalization weighted index that is designed to measure the performance of large- and mid-capitalization companies from 21 developed market countries. The fund is non-diversified.
DPK provides a leveraged inverse play on the MSCI EAFE Index, which tracks large- and mid-cap equities in 21 developed market countries, excluding the US and Canada. The fund aims to deliver three times the inverse of the index's daily performance, making it a tool for investors who believe developed market equities are poised for short-term decline. DPK achieves this through the use of financial instruments such as swap agreements, futures contracts, and short positions. Due to the leveraged nature, the fund is designed for daily use and is not suitable for long-term investment strategies. Investors should understand the risks associated with leveraged and inverse ETFs, including the potential for amplified losses and the effects of compounding, which can cause returns to deviate significantly from the target multiple over longer periods. The fund is non-diversified, which adds to its risk profile.

Risk Metrics

DPK carries substantial risks due to its leveraged and inverse nature. Its beta of -2.43 (3Y) indicates high sensitivity to movements in the MSCI EAFE Index, with amplified negative correlation. The 1.08% expense ratio is high, creating a significant drag on performance, especially if the anticipated market decline does not materialize quickly. The fund's non-diversified nature concentrates risk, as its performance is heavily reliant on the performance of a specific segment of developed market equities. Leveraged ETFs are designed for short-term tactical positions, and their performance can deviate significantly from the stated multiple over longer periods due to the effects of compounding. Investors should carefully consider their risk tolerance and investment horizon before using DPK. Past performance does not guarantee future results.

Expense Ratio

1.08%

Dividend Yield

1.74%
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Risk Metrics

  • Beta: -2.43

Questions & Answers

What is DPK and what does it track?

DPK, the Direxion Daily MSCI Developed Markets Bear 3X Shares, is an ETF designed to deliver three times the inverse (opposite) of the daily performance of the MSCI EAFE Index. This index tracks large- and mid-capitalization companies from 21 developed market countries, excluding the United States and Canada. DPK uses financial instruments like swap agreements and futures contracts to achieve its leveraged inverse exposure. It is intended for short-term tactical use by sophisticated investors seeking to profit from or hedge against potential declines in developed market equities.

What is the expense ratio for DPK?

The expense ratio for DPK is 1.08%. This is significantly higher than the average expense ratio for equity ETFs, which is around 0.44%. The higher expense ratio reflects the cost of managing a leveraged and inverse ETF, which involves the use of complex financial instruments and frequent portfolio adjustments. the may be worth researching impact of this higher expense ratio on their overall returns, especially if holding the fund for more than a very short period.

What are the top holdings in DPK?

As an inverse ETF, DPK does not have traditional 'holdings' in the same way as a long-only equity fund. Instead, it uses financial instruments to create an inverse leveraged exposure. These instruments include swap agreements, futures contracts, and short positions tied to the MSCI EAFE Index. The specific counterparties and contract details are subject to change daily based on market conditions and the fund's investment strategy. Investors should consult the fund's daily holdings disclosure for the most up-to-date information on its derivative positions.

Is DPK a good long-term investment?

DPK is generally not considered suitable for long-term investment. Its leveraged and inverse nature means that its performance can deviate significantly from the target multiple over longer periods due to the effects of compounding. The fund is designed for short-term tactical use by sophisticated investors who have a strong conviction about the direction of developed market equities. Its high expense ratio of 1.08% can also erode returns over time. Past performance does not guarantee future results.

How does DPK compare to similar ETFs?

DPK stands out due to its 3x leverage factor, offering a more aggressive inverse exposure compared to many other inverse ETFs. Its expense ratio of 1.08% is relatively high compared to non-leveraged ETFs. With AUM of $0.01 billion, it is a smaller fund, which can impact liquidity and trading costs. Investors should compare DPK's leverage, expense ratio, and tracking accuracy against other inverse ETFs to determine the best fit for their specific investment objectives and risk tolerance.

Does DPK pay dividends?

DPK has a dividend yield of 1.74% as of 2026-03-15. This yield is derived from the dividends paid by the companies within the MSCI EAFE Index, which are indirectly passed through to DPK shareholders. However, investors should note that the primary objective of DPK is to provide leveraged inverse exposure, and the dividend yield is a secondary consideration. The dividend yield may fluctuate based on the dividend policies of the underlying companies and the fund's investment strategy.