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

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

DFEN is an ETF linked to Aerospace & Defense. As of September 3, 2026, its distribution rate is 0.14%, its trailing-12-month yield is 9.14%, its expense ratio is 0.96%. Dividend Vision Distribution Safety Score™ is 49/100 (Caution). Total return is 240.4% over the past 9.3 years, 34.5 points behind SPY at 274.9%.

At the current 0.14% distribution rate, a $10,000 investment would generate approximately $14 per year, or $1.17 per month on an equivalent basis. Actual quarterly payments vary.

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

Data as of September 3, 2026.

Total return is 240.4% over the past 9.3 years, 34.5 points behind SPY at 274.9%. Its deepest 1-year drawdown was 41.8%.

DFEN key facts

Data as of September 3, 2026.

Distribution Safety Score™

49 · Caution

Safety-Adjusted Yield

0.07%

Issuer

Direxion

Asset type

ETF

Asset class

Equity

Inception date

05/03/2017

Expense ratio

0.96%

Distribution rate

0.14%

Distribution frequency

Quarterly

Trailing yield

9.14%

Last close

$61.90

NAV

$59.66

Premium / discount

3.75% premium

AUM

$335,238,787

Average volume

255957.0

Last dividend

$0.021

Last ex-dividend date

06/23/2026

Last payment date

06/30/2026

Beta

2.68

P/E ratio

33.5708

How Dividend Vision calculates yield and returns

Distribution rate (0.14%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (9.14%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. 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. Figures below use Dividend Vision data as of September 3, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of September 3, 2026.

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 41.8%.

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.

Frequently asked questions

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