TSMZ ETF — Direxion Daily TSM Bear 1X Shares

Direxion Daily TSM Bear 1X Shares (TSMZ)

Updated October 16, 2026.

TSMZ is an ETF linked to Taiwan Semiconductor Manufacturing (TSM). its distribution rate is 3.60%, its trailing-12-month yield is 4.00%, its expense ratio is 1.01%. Total return is -65.5% over the past 2 years, 200.2 points behind TSM at 134.7%.

This ETF seeks to deliver daily inverse exposure to Taiwan Semiconductor Manufacturing (TSM), meaning it aims to move opposite to the stock's price movements on a one-to-one basis using swap agreements and options. The fund carries a modest expense ratio and distributes quarterly at a current high distribution rate. It appeals to investors seeking short-term bearish positioning or hedging against TSM price declines, though the daily reset mechanism means it is not designed for longer holding periods.

TSMZ performance versus TSM

Price and return data through 2026-10-16.

Total return is -65.5% over the past 2 years, 200.2 points behind TSM at 134.7%. Over the past year its total return — price change plus distributions reinvested — is -34.4%. Its deepest 1-year drawdown was 48.8%.

TSMZ key facts

Issuer

Direxion

Asset type

ETF

Asset class

Equity

Inception date

10/02/2024

Expense ratio

1.01%

Distribution rate

3.60%

Distribution frequency

Quarterly

Trailing yield

4.00%

Last close

$7.90 (as of 2026-10-16)

AUM

$2,522,732

Average volume

135671.0

Dividend

$0.071

Ex-dividend date

09/22/2026

Payment date

09/29/2026

Beta

-2.0172

How Dividend Vision calculates yield and returns

Distribution rate (3.60%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (4.00%) 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: Taiwan Semiconductor Manufacturing (TSM); 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.

TSMZ risks and drawbacks

TSMZ'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 TSM over the available window. The deepest 1-year drawdown on record here is 48.8%.

Who may consider TSMZ — and who may not

TSMZ may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (TSMZ pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching TSM total return. This is educational context, not a recommendation to buy or sell.

More on TSMZ

• All tickers starting with T

Tagged: Short, Single.

Frequently asked questions

More securities from Direxion.