TSMZ ETF — Direxion Daily TSM Bear 1X Shares

Direxion Daily TSM Bear 1X Shares (TSMZ)

TSMZ is an ETF that tracks the Taiwan Semiconductor Manufacturing (TSM). As of August 20, 2026, its distribution rate is 3.02%, its trailing-12-month yield is 4.51%, its expense ratio is 1.01%. Fund total return is -65.3% over the past 1.9 years, 199.1 points behind TSM at 133.8%.

At the current 3.02% distribution rate, a $10,000 investment would generate approximately $302 per year, or $25.17 per month on an equivalent basis. Actual quarterly payments vary.

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

Data as of August 20, 2026.

Fund total return is -65.3% over the past 1.9 years, 199.1 points behind TSM at 133.8%. Its deepest 1-year drawdown was 56.5%.

TSMZ key facts

Data as of August 20, 2026.

Issuer

Direxion

Asset type

ETF

Asset class

Equity

Inception date

10/02/2024

Expense ratio

1.01%

Distribution rate

3.02%

Distribution frequency

Quarterly

Trailing yield

4.51%

Last close

$7.96

AUM

$3,004,167

Average volume

68568.0

Last dividend

$0.0600

Ex-dividend date

06/23/2026

Payment date

06/30/2026

Beta

-2.0172

How Dividend Vision calculates yield and returns

Distribution rate (3.02%) 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 (4.51%) 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. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 20, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 20, 2026.

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 56.5%.

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.

Frequently asked questions

More funds from Direxion.