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."

If you want market-thumping returns, you need to protect your portfolio from any undue risk. Luckily, our special report on ETFs highlights three funds that are poised to soar in the next recovery. It's 100% free, but won't last forever, so click here to access it now.

Want to see how well (or not so well) the stocks in this series are performing? Follow the TrackPoisedTo CAPS account.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool's disclosure policy always gets a perfect score.