What this ETF is trying to do

The Direxion Daily BA Bear 1X Shares (BOED) is an "inverse" ETF. Most ETFs go up when the assets they track go up. An inverse ETF is designed to do the opposite. This specific fund is designed to move in the opposite direction of a specific target (BA).

What the numbers show

As of October 5, 2026, the share price is $17.53.

There are two ways to look at the returns:

• Price Return: This measures only the change in the share price. The one-year price return is -4.69%, and the year-to-date (YTD) price return is -2.28%.

• Total Return: This measures the overall return, including distributions. The one-year total return is -3.36%, and the YTD total return is -1.56%.

For a simple example, if you had invested $10,000 based on the estimated price from roughly one year ago ($18.39), the price-only decline of -4.69% would mean your investment's value based on share price alone would be approximately $9,531.

Income and distribution explanation

This ETF has a distribution yield of approximately 1.50%. Over the last 12 months, it has made two payouts. The distribution frequency is listed as irregular or less frequent.

It is important for new investors to remember that a high distribution yield alone can be misleading. Distributions provide cash income, but they do not guarantee that the original money you invested (the principal) will stay the same or grow.

NAV erosion explanation

"NAV erosion" happens when the net asset value of a fund declines over time, which can lead to a falling share price. StockValueFinder uses an erosion-risk score to measure this.

BOED has an erosion score of 94, which is labeled as "Stable / sideways" with "good" severity. Additionally, the severe erosion-risk flag is false, meaning the fund has not triggered a severe warning based on its price trend or score.

Pros

• The erosion-risk score is currently labeled as "good" and "stable."

• The total return is slightly higher than the price return because of distributions.

Cons

• The share price has declined over the last year and year-to-date.

• The income rating grade is a "D."

• Distributions are irregular rather than on a set schedule.

Beginner takeaway

BOED is an inverse ETF, meaning it is designed to profit when its target goes down. While it provides some cash distributions, the share price has decreased over the past year. Investors often care about principal stability to ensure their original investment doesn't shrink, even if they are receiving income payments.