Direxion Daily BA Bear 1X Shares (BOED) is an exchange-traded fund that seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the performance of the common shares of The Boeing Company (NYSE: BA). The fund invests at least 80% of its net assets in financial instruments including swap agreements, options, and other derivatives to achieve its short strategy objectives; it is managed by Rafferty Asset Management, LLC and issued under Direxion Shares ETF Trust, a provider of leveraged and inverse ETFs founded in 1997 and headquartered in New York. Launched on April 23, 2025, as part of a pair with the Direxion Daily BA Bull 2X Shares (BOEU), BOED targets sophisticated traders seeking short-term tactical exposure to Boeing's stock performance in the industrials sector, particularly aerospace and defense, without direct investment in BA shares.
The ETF operates with a net expense ratio of 0.97% (gross 0.99%), excluding certain costs like acquired fund fees, under an operating expense limitation agreement through September 1, 2026; it distributes income dividends quarterly, with the most recent on June 24, 2025, at $0.13095 per share. BOED trades on the Nasdaq exchange and emphasizes high-risk, daily leveraged inverse objectives, where compounding effects and Boeing's volatility can significantly impact returns over periods longer than one day.
In recent developments, Direxion launched BOED alongside BOEU on April 23, 2025, to expand its single-stock leveraged and inverse ETF lineup targeting Boeing and Exxon Mobil (XOM); this followed launches for Eli Lilly (LLY) and Palo Alto Networks (PANW) in March 2025, Cisco (CSCO) and Qualcomm (QCOM) in June 2025, and Ford (F) in July 2025, alongside executive appointments like Chief Product Officer Mo Sparks in April 2025.