Direxion Daily Small Cap Bear 3X Shares

Small caps have a dedicated crash instrument, and this is it. Direxion's TZA delivers negative three times the daily return of the Russell 2000, so a one percent drop in the index lifts the fund about three percent that day. Exposure is rebuilt daily through swaps, which makes it strictly a session-scale tool: compounding pulls long holds away from the minus-300-percent target, usually against the holder in a rising market. Traders use it to hedge small-cap books or to press a bearish macro view on rate-sensitive domestic companies without shorting futures. It is among the oldest and most liquid inverse leveraged ETFs, launched in 2008, and its trading volume routinely dwarfs its assets, exactly the pattern of a hedging instrument rather than an investment.

On MyRWA, TZA trades tokenized across 10 on-chain venues - see the listings below.