TNA
TNA is an exchange-traded fund (ETF) that seeks to provide three times (3x) the daily performance of the Russell 2000 Index, which measures the performance of small-cap U.S. stocks. It is designed for investors looking to gain leveraged exposure to the small-cap segment of the market.
Asset Summary
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Asset Performance Metrics and Risk Characteristics:
Metrics below use daily returns for Jan 1, 2026 – Oct 7, 2026 (YTD).
Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.
1 Month Trailing Return
-13.41%
Represents the percentage change in asset value over the past month.
3 Month Trailing Return
-16.94%
Indicates the percentage change in asset value over the last three months.
Period Max Drawdown
32.56%
The highest percentage drop from the peak value to the lowest point during the observed period.
Standard Deviation
53.86%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
Sharpe Ratio
0.86
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
Calmar Ratio
1.42
The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.
Asset Technical Analysis
Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. Using indicators such as moving averages, pivot levels, momentum studies, and candlestick pattern scans can clarify trend strength and volatility. The tabs below summarize moving averages, pivots, technical indicators, candlestick patterns, and recent prices for this symbol.
Analysis
Moving Averages
Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:
| Type/Period | |
|---|---|
| SMA | |
| EMA | |
| WMA | |
| WEMA |
- SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
- EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
- WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
- WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.
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Experience Excellence NowFrequently Asked Questions
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Dividends received from the underlying securities in TNA are collected and distributed to ETF shareholders. Investors can choose to receive dividends in cash or reinvest them to purchase additional shares of TNA.
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Yes, TNA carries significant risks, including leverage risk and volatility risk. The use of leverage means that the ETF's performance can be highly amplified, both positively and negatively, leading to larger swings in value. This makes TNA more suitable for short-term trading rather than long-term investing.
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Key performance metrics for TNA include its net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio indicates the cost of managing the fund, total return measures overall performance including dividends, and tracking error shows how closely TNA tracks its leveraged target.
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Similar ETFs to TNA include the ProShares UltraSmallCap600 (SAA) and the Direxion Daily Small Cap Bear 3X Shares (TZA). These ETFs also provide leveraged exposure to small-cap stocks but may differ in their leverage ratios and investment strategies.
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As of the latest update, TNA has an expense ratio of approximately 0.95%. This fee is deducted from the fund’s assets and covers the cost of managing the ETF, including the costs associated with the use of leverage.
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TNA is rebalanced daily to maintain its targeted leverage ratio of three times the daily performance of the Russell 2000 Index. This daily rebalancing can lead to a compounding effect on returns, especially in volatile markets.
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Historically, TNA’s performance has shown significant volatility due to its leveraged exposure. It tends to amplify both gains and losses relative to the Russell 2000 Index, making its performance highly variable over time.
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While TNA can technically be held in retirement accounts such as IRAs or 401(k)s, it is important to be aware of its high volatility and leverage. It may be more suitable for experienced investors who understand the risks associated with leveraged ETFs.
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Investors can purchase shares of TNA through a brokerage account, just like other stocks and ETFs. It is traded on the New York Stock Exchange (NYSE) under the ticker symbol "TNA."
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TNA is managed by Direxion Investments. The fund uses financial derivatives, including swaps and futures contracts, to achieve its goal of providing three times the daily return of the Russell 2000 Index. Due to its leverage, TNA is rebalanced daily to maintain its targeted leverage ratio.
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Disclaimers
The information displayed on this site is sourced from third-party providers and is believed to be reliable. OHLCX has not independently verified this data and does not guarantee its accuracy. Content is for educational and informational purposes only and is not financial or investment advice.
With any investment, your capital is at risk. Past performance is no guarantee of future results. Consult your provider's terms and privacy policies where applicable.
Market data is provided in near real-time when available, but we do not guarantee its accuracy or timeliness.
Securities products are: Not FDIC insured · Not bank guaranteed · May lose value
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