Direxion Daily Small Cap Bear 3X Shares drawdown: 100.0% below the all-time high
Direxion Daily Small Cap Bear 3X Shares is 100.0% below its all-time high, set Nov 20, 2008 (as of market close, Sep 11, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown.
- Below all-time high
- −100.0%
- 0.0% of ATH
- All-time high
- $13,491,800
- Nov 20, 2008
- Time below the high
- 17.8 yrs
- since Nov 20, 2008
- Worst-ever drawdown
- −100.0%
- Aug 14, 2026
- Longest underwater
- 17.8 yrs
- between all-time highs
- Today's level first reached
- Nov 19, 2008
- 17.8 yrs ago
- Last time this deep
- never before
- no prior −100.0% episode
% of all-time high since 2008#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater. Basis and range are in the URL, so a particular view is a link.
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Nov 20, 2008 | Aug 14, 2026 | −100.0% | 17.7 yrs | not yet | 17.8 yrs+ |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2008: how far Direxion Daily Small Cap Bear 3X Shares stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: a single asset's history is one surviving sample, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is Direxion Daily Small Cap Bear 3X Shares from its all-time high?
- Direxion Daily Small Cap Bear 3X Shares is currently 100.0% below its all-time high, set Nov 20, 2008 (as of market close, Sep 11, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest Direxion Daily Small Cap Bear 3X Shares drawdown ever?
- The deepest decline on record in our data (since 2008) took Direxion Daily Small Cap Bear 3X Shares 100.0% below its prior high, bottoming Aug 14, 2026. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since -1 from TZA; no free deep history exists for Direxion Daily Small Cap Bear 3X Shares — for a 150-year drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year. Past performance does not predict future returns; not investment advice.