Direxion Daily NVDA Bear 1X ETF
NVDD
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- Direxion Daily NVDA Bear 1X Shares (NVDD) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 100% of the inverse (or opposite) performance of the common shares of NVIDIA Corporation (NASDAQ: NVDA); it employs derivatives such as swaps and options to achieve short exposure to NVDA stock in the graphics, compute, and networking sectors. The fund offers targeted inverse exposure for traders seeking to capitalize on daily declines in NVDA's share price, with a net expense ratio of 1.02% (excluding certain fees); it differs significantly from traditional ETFs due to daily compounding effects, higher volatility impacts over periods longer than one day, and lack of diversification benefits inherent in single-stock leveraged and inverse products. Launched on September 13, 2023, and domiciled in the United States, NVDD trades on the Nasdaq exchange and is managed by Rafferty Asset Management, LLC, as part of the Direxion Shares ETF Trust; it primarily serves sophisticated investors actively managing leveraged positions, with total net assets of approximately $46.80 million as of recent data. In September 2025, Direxion executed a 1-for-10 reverse stock split on NVDD, effective September 29, 2025, reducing outstanding shares by approximately 90%, adjusting the CUSIP from 25461A700 to 25461A197, and proportionately increasing the net asset value and market price per share; this operational change aimed to maintain liquidity and attractiveness for investors amid share price dynamics. The fund has continued regular quarterly distributions, including income dividends of $0.04081 in June 2025, $0.04991 in March 2025, and $0.07932 in December 2024, alongside capital gains payouts in select periods; recent institutional interest has grown, with hedge fund ownership rising to 33.71% in Q3 2025, driven by new positions from firms like IMC Chicago and Jump Financial. NVDD operates without direct geographic segmentation beyond U.S. exchange listing, focusing on U.S.-based investors targeting NVDA's global visual computing market.