Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, Direxion Daily S&P 500 Bear 3x Shares (NYSE: SPXS) has received the dreaded one-star ranking.

With that in mind, let's take a closer look at the Direxion ETF and see what CAPS investors are saying about it right now.

SPXS facts

Inception November 2008
Total Net Assets $193.8 million
Investment Approach Seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks.
Expense Ratio 1.1%
Year-to-Date / 1-Year / 3-Year Return (41.8%) / (62.9%) / (45.7%)

Sources: S&P Capital IQ and Motley Fool CAPS.

On CAPS, 88% of the 290 All-Star members who have rated the Direxion ETF believe it will underperform the S&P 500 going forward.

A few weeks ago, one of those Fools, TerryHogan, succinctly summed up his bear call on SPXS: "Just a bet on the long-term upward trend of the S&P 500 coupled with the inevitable long-term decline of a 3X leveraged ETF with an expense ratio -- these things are like pet baby [alligators: The] longer you keep them, the more dangerous they become."

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