Direxion Small Cap Bear 3X ETF (TZA) holdings & weights
Per-holding contribution · concentration · sector skew — a deep read
1739 identified stocks · net exposure / NAV -300.00%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Underlying allocation is estimated using IWM (2026-10-19). Cash and unallocated contracts are excluded from stock attribution.
Weight and calculation basis
1739 identified stocks · net exposure / NAV -300.00%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Underlying allocation is estimated using IWM (2026-10-19). Cash and unallocated contracts are excluded from stock attribution.
We have this ETF's holdings, but the prices for those particular listings are outside our quote coverage (currently Korea- and US-listed securities). So today's contribution and return are not computed — showing 0% would claim it did not move, which is a different statement. The holdings and weights below follow the calculation basis above.
Today's summary
Its top 10 holdings make up about 3.3% of the fund. The concentration index (HHI) is 12 — Low — evenly diversified, and the largest sector is Financials (20%). The higher the concentration, the more one stock or sector drives the whole ETF's return.
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Concentration is below 1,500 (12), so no single holding dominates.
The largest sector is Financials at 20% — industries are reasonably spread.
A 3x inverse fund. It resets exposure daily, so over more than a few days the result drifts from "index move × 3". Built for short holds.
We don't have cost, fund size for Direxion Small Cap Bear 3X ETF yet, so those axes are excluded and the score is based on the other 3. Scoring a missing figure as zero would grade our data collection, not the fund.
Concentration and diversification
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Concentration is below 1,500 (12), so no single holding dominates.
The largest sector is Financials at 20% — industries are reasonably spread.
A 3x inverse fund. It resets exposure daily, so over more than a few days the result drifts from "index move × 3". Built for short holds.
We don't have cost, fund size for Direxion Small Cap Bear 3X ETF yet, so those axes are excluded and the score is based on the other 3. Scoring a missing figure as zero would grade our data collection, not the fund.
Top 20 holdings
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
Normalized to 100% of analysed positions
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
| # | Holding | Weight |
|---|---|---|
| 1 | MOOGMOG.A | 0.37% Short |
| 2 | BRIGHTSPRING HEALTH SERVICESBTSG | 0.37% Short |
| 3 | JFROGFROG | 0.35% Short |
| 4 | GLAUKOSGKOS | 0.34% Short |
| 5 | UMB FINANCIALUMBF | 0.34% Short |
| 6 | SM ENERGYSM | 0.34% Short |
| 7 | TWIST BIOSCIENCETWST | 0.33% Short |
| 8 | FIRSTCASHFCFS | 0.32% Short |
| 9 | OLD NATIONAL BANCORPONB | 0.31% Short |
| 10 | VAXCYTEPCVX | 0.31% Short |
| 11 | RYMAN HOSPITALITY PROPERTIESRHP | 0.31% Short |
| 12 | CARETRUSTCTRE | 0.31% Short |
| 13 | BRINKER INTERNATIONALEAT | 0.31% Short |
| 14 | CYTOKINETICSCYTK | 0.30% Short |
| 15 | INTERDIGITALIDCC | 0.30% Short |
| 16 | KRYSTAL BIOTECHKRYS | 0.30% Short |
| 17 | PROTAGONIST THERAPEUTICSPTGX | 0.29% Short |
| 18 | 10X GENOMICSTXG | 0.29% Short |
| 19 | PBF ENERGYPBF | 0.29% Short |
| 20 | JACKSON FINANCIALJXN | 0.28% Short |
Holdings below 0.5% or outside the top list are folded into “Others” and omitted above.
Where the weight sits — sector mix
Listed equity weights summed by sector and normalized to 100%. Each band is one sector's share.
Industry breakdown
HHI sums the squared weights. The more it leans on a few names, the higher it goes — and the more the whole ETF moves with them.
Leverage / inverse caveat
This fund tracks 3x the inverse of its index — it rises when the index falls, and vice versa.
That 3x applies to a **single day**. Held longer, the daily reset makes the period return drift from 3x the index: if the index chops up and down and returns to where it started, this fund is still down. That is volatility decay.
It bites hardest in sideways markets and compounds with holding time. These are built for short directional trades.
How concentrated is it
Concentration (HHI) is low at 12, with the top 10 holdings at just 3.3% of equity weight. No single name can dominate the fund.
Good for damping single-stock risk — and equally, a big winner inside gets diluted.
HHI squares each weight and sums them: 10,000 means one stock is everything, and the more evenly spread the holdings, the closer it falls to zero.
Where the sector weight sits
Sectors run Financials(20%) · Health Care(19%) · Consumer Discretionary(19%), and even the largest is only 20% — no meaningful industry tilt.
This is built to track a market rather than to call a sector.
Weights above sum the individually listed equities and normalize that equity total to 100%.
How much it overlaps others
Its closest neighbour is AMDD at 11060% overlap — effectively the same basket.
Holding both is not diversification, it is buying the same companies twice. Pick whichever is cheaper.
What it is made of
Equities are -300.0% of the fund, the rest swaps and cash — index exposure built synthetically rather than by owning the shares, which adds counterparty risk.
This page is not investment advice. Investment decisions and responsibility are your own.
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