Is DPST a Buy? What to Consider in 2026

Direxion Daily Regional Banks Bull 3X Shares (DPST) seeks daily investment results, before fees and expenses, of 300% of the daily performance of the S&P Regional Banks Select Industry Index. Direxion is the issuer, and the fund obtains its leveraged exposure mainly through swap agreements and other derivatives tied to the regional-banks index rather than by holding the underlying bank stocks directly. The expense ratio is roughly 0.92%, and the fund launched on August 19, 2015. DPST is built for sophisticated traders who actively monitor positions, typically intraday or over a few days. The leverage is reset daily, so over multi-day and longer periods the fund's return reflects the compounding of daily moves, which in volatile or sideways markets tends to decay relative to a simple 3x of the index's cumulative return. Regional banks are themselves a volatile, rate-sensitive and confidence-sensitive corner of the market, and applying 3x leverage on top of that amplifies both gains and losses. The 2023 regional-bank crisis, when the failures of Silicon Valley Bank and others sent regional-bank shares down sharply in a matter of days, is a clear example of how violently a fund like DPST can move.

Largest holdings (approximate as of early 2026; verify on Direxion's fund page):

DPST is a 3x leveraged ETF from Direxion that targets 300% of the daily return of the S&P Regional Banks Select Industry Index. It is a short-term trading instrument, not a long-term investment. Daily rebalancing means returns compound and can decay badly over time, and 3x leverage on an already volatile, crisis-prone sector like regional banks can produce extreme swings and rapid losses. It is intended only for experienced traders who watch positions closely.

In its favour: it gives you 3x daily S&P Regional Banks Select Industry index exposure in one ticker at a 0.92% expense ratio, which is simple to hold and cheap to own.

• Cost vs alternatives: 0.92% is the fee; compare it to funds tracking a similar index.
• Concentration: check how much of DPST sits in its largest holdings ().
• Overlap: if you already own a broad-market fund, you may already hold much of this.
• Tracking scope: DPST only gives you 3x daily S&P Regional Banks Select Industry index; it will not capture what sits outside that index.

The useful question is rarely “will DPST go up?” It is “does this exposure fit my plan, at a cost I am happy with, without doubling up on what I already own?” Walnut connects your real brokerage so you can see exactly how DPST would overlap with your current holdings, analyze it by chatting through Claude or ChatGPT, and place any trade yourself. You stay in control.

The bottom line: DPST is a low-cost core building block for 3x daily S&P Regional Banks Select Industry index exposure, not a tactical bet on a single name. If you want 3x daily S&P Regional Banks Select Industry index exposure and the 0.92% fee is competitive for you, it does its job well. If you already own that exposure through another fund, adding it mostly doubles a fee without adding diversification. Decide from your goal and your existing holdings, not from where the market sat last week. Walnut is not an investment adviser.