Direxion Daily CSI 300 China A Share Bear 1X Shares
CHAD
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 1301 Avenue of the Americas, 28th Floor New York City NY United States of America 10019
- IPO Date
- Jun 17, 2015
- CIK
- 0001424958
- Similar Companies
- Business
- Direxion Daily CSI 300 China A Share Bear 1X Shares (CHAD) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 100% of the inverse (or opposite) of the performance of the CSI 300 Index for a single trading day. The CSI 300 Index is a modified free-float market capitalization-weighted benchmark comprising the 300 largest and most liquid A-share stocks listed on the Shanghai and Shenzhen exchanges in mainland China, with top holdings including Kweichow Moutai Co., Amperex Technology, Ping An Insurance, and Merchants Bank; the fund achieves its objective primarily through derivatives such as swaps and futures, rather than direct holdings in the underlying securities. CHAD targets sophisticated investors seeking short-term tactical exposure to the inverse performance of China's domestic equity market, with a net expense ratio of 0.76%, CUSIP 25459Y116, and assets under management of approximately $11.66 million as of late 2025; it trades on NYSE Arca and is managed by Rafferty Asset Management, LLC under the Direxion Shares ETF Trust. The fund, which commenced operations on June 17, 2015, operates within the leveraged and inverse ETF segment of the asset management industry, focusing on emerging markets exposure to Chinese A-shares accessible via programs like Stock Connect, RQFII, and QFII. Direxion Shares ETF Trust, the issuer, was founded in 1997 (originally as Potomac Funds) and is headquartered at 1301 Avenue of the Americas, 28th Floor, New York, NY 10019, with additional offices in Boston, Massachusetts; Alexandria, Virginia; and Hong Kong to support global operations. In a significant recent development, Direxion Shares ETF Trust announced on October 3, 2025, the liquidation and closure of CHAD—along with two other low-asset ETFs—due to insufficient investment assets, with trading ceasing on NYSE Arca at the close of regular trading on October 23, 2025 (the Closing Date) and final pro rata cash distributions to remaining shareholders targeted for on or about October 30, 2025 (the Liquidation Date). Between the Closing Date and Liquidation Date, the fund winds down its portfolio, increasing cash holdings and deviating from its daily inverse objective, potentially resulting in premiums or discounts to net asset value and taxable events for shareholders including accrued capital gains. This operational change follows prior delisting threats and reflects ongoing portfolio rationalization by Direxion, which has closed multiple underperforming funds in recent years amid market volatility and quota restrictions in China's A-share access programs.