Direxion Daily PANW Bear 1X Shares (PALD) Performance
PALD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −59.7% since Dec 31, 2025
- 1 year
- −53.1% total return
- Since first price
- −61.2% since 2025
PALD trailing returns vs SPY, QQQ, AGG
| Period | PALD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.0% | +1.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −20.9% | −21.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −60.6% | −61.1% | +7.8% | +8.4% | −1.5% |
| YTD | −59.7% | −60.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −53.1% | −54.4% | +14.4% | +15.9% | −1.1% |
| Since inceptionMar 26, 2025 | −61.2% | −63.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PALD vs SPY
From Mar 26, 2025: PALD grew to $3,875, SPY to $13,588.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PALD returns by calendar year
2026 is year to date.
PALD annual returns table
| Year | PALD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −59.7% | −70.9% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PALD largest drawdowns
Now 68.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 24, 2026 | −70.9% | Oct 6, 2026 | not yet | 7 months | 8 months so far |
| Apr 7, 2025 | −33.4% | Oct 28, 2025 | Feb 23, 2026 | 7 months | 11 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PALD risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −50.4% |
| Volatility (annualized) | 46.6% |
| Sharpe ratio | -1.30 |
| Sortino ratio | -1.42 |
| Best month | +17.3% |
| Worst month | −37.8% |
| Best 12 months | −0.5% |
| Worst 12 months | −56.8% |
| Positive months | 33% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PALD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 8 | −56.8% | −48.8% | −0.5% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
PALD performance overview
Direxion Daily PANW Bear 1X Shares (PALD) returned −53.1% over the past year, with distributions reinvested. Since its first recorded price on Mar 26, 2025 it has returned −61.2%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −70.9%, from Feb 24, 2026 to Oct 6, 2026; the fund has not yet regained that high. Volatility has been 46.6% a year.
Related: PALD chart, PALD dividends. See the PALD overview for the latest quote and fund facts.
PALD performance FAQ
What is the PALD return over the past year?
PALD returned −53.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 54.4%.
How much would $10,000 invested in PALD be worth?
$10,000 invested in PALD at its first recorded close on March 26, 2025 would be worth about $3,875 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of PALD?
The largest peak-to-trough decline was −70.9% between February 24, 2026 and October 6, 2026. It has not yet recovered to that high; it is 68.5% below its peak.
How volatile is PALD?
Over the past history PALD had an annualized volatility of 46.6% and a Sharpe ratio of -1.30 (excess return over 1–3 month T-bills per unit of risk).