Direxion Daily Dow Jones Internet Bear 3X ETF
WEBS
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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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 7, 2019
- CIK
- 0001424958
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Daily Dow Jones Internet Bear 3X Shares (WEBS) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 300% of the inverse of the Dow Jones Internet Composite Index, a market-cap-weighted benchmark comprising the 40 largest and most liquid U.S. internet companies generating at least 50% of revenues from internet-related activities, including top holdings such as Netflix, Meta Platforms, Amazon.com, Alphabet, and Cisco Systems; the fund achieves its leveraged inverse exposure primarily through derivatives like swaps and futures, investing at least 80% of net assets in such instruments or ETFs tracking the index, with a gross expense ratio of 1.16% and net expense ratio of 1.08% after waivers through September 2026. Launched on November 7, 2019, and domiciled in the United States with primary listing on NYSE Arca, WEBS targets sophisticated short-term traders seeking magnified bearish exposure to the internet sector spanning interactive media, application software, broadline retail, and communications equipment, rather than long-term buy-and-hold investors due to daily reset leverage and potential compounding effects over multi-day periods. Direxion Daily Dow Jones Internet Bear 3X Shares operates globally through U.S. exchanges, complementing its bull counterpart WEBL within Direxion Shares ETF Trust, issued by New York-based Direxion, founded in 1997 as a leader in leveraged and inverse ETFs with approximately $48.6 billion in assets under management as of September 2024. Recent major developments include a 1-for-5 reverse stock split executed on October 11, 2024, to address share price erosion and maintain trading liquidity; ongoing launches of new single-stock and sector leveraged/inverse ETFs such as those targeting Berkshire Hathaway, Palantir, Boeing, Exxon Mobil, and Titans suites for top sector leaders in October 2025; a strategic partnership with SS&C ALPS Distributors announced in September 2024 for enhanced medallion distribution services across Direxion's ETF and mutual fund lineup; and the October 2025 liquidation of three underperforming ETFs recommended by adviser Rafferty Asset Management, LLC, alongside innovations like a new ETF alert service in January 2024 and crypto/AI infrastructure-focused trading tools in November 2025.