DFEN ETF — Direxion Daily Aerospace & Defense Bull 3X Shares Direxion Daily Aerospace

Direxion Daily Aerospace & Defense Bull 3X Shares Direxion Daily Aerospace (DFEN)

Updated October 16, 2026.

DFEN is an ETF linked to Aerospace & Defense. its distribution rate is 0.10%, its trailing-12-month yield is 11.71%, its expense ratio is 0.96%. Dividend Vision Distribution Safety Score™ is 30/100 (Elevated risk). Total return is 164.1% over the past 9.5 years, 106.9 points behind SPY at 271.0%.

This ETF seeks to deliver three times the daily leverage of the aerospace and defense industry segment of the U.S. stock market through swap agreements, direct securities holdings, and other financial instruments. It distributes quarterly with a modest yield and carries an expense ratio of 0.96%, reflecting the cost of its leveraged structure. The fund appeals to tactical traders and investors seeking amplified exposure to aerospace and defense equities over short time horizons, though leverage magnifies both gains and losses and can erode value over longer periods.

DFEN performance versus SPY

Price and return data through 2026-10-16.

Total return is 164.1% over the past 9.5 years, 106.9 points behind SPY at 271.0%. Over the past year its total return — price change plus distributions reinvested — is -18.7%. Its deepest 1-year drawdown was 54.3%.

DFEN key facts

Distribution Safety Score™

30 · Elevated risk

Safety-Adjusted Yield

0.03%

Issuer

Direxion

Asset type

ETF

Asset class

Equity

Inception date

05/03/2017

Expense ratio

0.96%

Distribution rate

0.10%

Distribution frequency

Quarterly

Trailing yield

11.71%

Last close

$48.02 (stale; as of 2026-10-16)

AUM

$281,508,816

Average volume

433800.0

Dividend

$0.012

Ex-dividend date

09/22/2026

Payment date

09/29/2026

Beta

2.54

How Dividend Vision calculates yield and returns

Distribution rate (0.10%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (11.71%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Direxion; Index: Aerospace & Defense; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

DFEN risks and drawbacks

DFEN's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 54.3%.

Who may consider DFEN — and who may not

It is a weaker fit for investors who need monthly cash flow (DFEN pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on DFEN

• All tickers starting with D

Tagged: Space, Leverage, Defense.

Frequently asked questions

More securities from Direxion.