Direxion Daily Financial Bear 3X Shares (FAZ)

[Porgie Tirebiter]

The distributions are not regularly scheduled, and they are not announced until after the market closes on the record date.

FAS has paid a dividend five times since inception, but FAZ has never had one. Although it is possible for the bear funds to distribute, it is rare because of the way they are constructed.

I was in ERX, the 3X energy fund once when it paid $4.65 per share. It was pure luck on my part, but it was definitely a "Whoopie!" moment, as it was greater than a 10% yield paid all at once, and in a tax free account for me.

http://www.direxionshares.com/etfs/distributions_qa.html#1

It's excellent that you read the prospectus. There is also an on-line course available. It's designed for brokers, but you come away with a much better understanding of what these funds are.