Direxion Daily Energy Bear 2X ETF
ERY
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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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.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1301 Avenue of the Americas, 28th Floor New York NY United States of America 10019
- IPO Date
- Nov 19, 2008
- CIK
- 0001424958
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Daily Energy Bear 2X Shares (ERY) is a leveraged exchange-traded fund issued by Direxion Shares ETF Trust that seeks daily investment results, before fees and expenses, equal to 200% of the inverse (or opposite) of the performance of the Energy Select Sector Index. The fund provides two times inverse (-2x) leveraged exposure to a market-cap-weighted index comprising U.S. large-cap energy companies across industries including oil, gas and consumable fuels, and energy equipment and services; it employs derivatives such as swaps and futures rather than direct investments in physical commodities or individual energy stocks. Launched on November 6, 2008, ERY trades on the NYSE Arca exchange and targets sophisticated short-term traders seeking tactical bearish exposure to the energy sector, with assets under management of approximately $18 million and a net expense ratio of 0.99% as of mid-2025. Direxion Shares ETF Trust, the issuer, operates from headquarters at 535 Madison Avenue, 37th Floor, New York, New York, as part of Direxion, a provider of leveraged and inverse ETFs founded in 1997 with additional offices in Boston and Hong Kong. The Energy Select Sector Index includes top holdings such as Exxon Mobil (22.90%), Chevron (14.89%), and ConocoPhillips (7.25%), with sector weightings dominated by oil, gas and consumable fuels at 92.40%. ERY is designed for daily trading rather than long-term holding due to leverage decay and volatility, distributing quarterly income dividends, including $0.13880 per share in June 2025 and $0.35134 in March 2025. In recent operational developments, ERY underwent a 1-for-10 reverse stock split effective May 31, 2022, to address low share prices following prolonged underperformance. The issuer, Direxion Shares ETF Trust (managed by Rafferty Asset Management, LLC), extended its operating expense limitation agreement through September 1, 2026, capping total annual operating expenses at 0.95% (excluding certain costs like acquired fund fees). Direxion has pursued aggressive product expansion in 2024-2025, launching over a dozen new single-stock leveraged and inverse ETFs targeting companies like Ford, Cisco, Qualcomm, Boeing, Exxon Mobil, Eli Lilly, Palo Alto Networks, Berkshire Hathaway, Palantir, Netflix, Taiwan Semiconductor, Broadcom, and Micron Technology; appointing Mo Sparks as Chief Product Officer in April 2025; and announcing closures of underperforming funds such as WFH, EVAV, XXCH, OOTO, and CLDL. These initiatives reflect Direxion's strategic shift toward amplifying its single-stock and sector-specific leveraged offerings amid volatile energy markets and broader ETF innovation.