What this ETF is trying to do

The DIREXION DAILY SHOP BEAR 1X ETF (ticker: SHPD) is an "inverse" ETF. This means it is designed to move in the opposite direction of a specific market or index. While most investors want to buy things that go up, an inverse ETF is built to behave differently.

What the numbers show

As of October 6, 2026, the current price of one share is $23.55.

The data shows how the share price has changed over time. An estimated price from roughly one year ago was $18.08. Because of this, the one-year price return was 30.25%. This number only tracks the change in the share price itself.

If you had invested $10,000 into just the share price one year ago, that investment would have grown to approximately $13,025 based on the price return.

The ETF also shows performance for the current year (Year-to-Date or YTD):

• YTD Price Return: 32.83% (the change in share price so far this year).

• YTD Total Return: 33.41% (this includes both the share price change and any cash distributions).

Income and distribution explanation

Some ETFs pay out cash to investors; these are called distributions. This ETF has a distribution yield of approximately 1.11%. This means the cash paid out is about 1.11% of the ETF's price.

In the last 12 months, this ETF made two distributions. The frequency of these payments is described as "irregular" or "less frequent." It is important to remember that a distribution yield is not the same as a total return. Total return is a more complete picture because it includes both the share price movement and the cash paid out.

NAV erosion explanation

"NAV" stands for Net Asset Value, which is basically the value of all the assets held inside the ETF. "NAV erosion" happens when the value of those underlying assets drops over time.

For this ETF, the erosion-risk score is 100, and the data shows "no price erosion detected." The severity is rated as "good," and there is no severe erosion-risk flag. This means the current data does not show signs of the fund's value being worn away by price deterioration.

Pros

• The ETF has shown positive price returns for both the one-year period and the year-to-date period.

• The erosion-risk measurements are currently rated as "good."

Cons

• Because this is an inverse ETF, it behaves differently than a standard investment.

• The cash distributions are irregular and do not happen on a set schedule.

Beginner takeaway

When looking at SHPD, it is important to understand that it is an inverse ETF. This means its goal is to move opposite to the market it follows. When checking its performance, you should look at both the price return (how much the share price moved) and the total return (the share price movement plus any cash distributions). For this ETF, both numbers have been positive recently.