Direxion Daily Retail Bull 3X ETF

The investment seeks daily investment results, before fees and expenses, of 300% of the daily performance of the S&P Retail Select Industry Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is a modified equal-weighted index that is designed to measure performance of the stocks comprising the S&P Total Market Index that are classified in the Global Industry Classification Standard (GICS) retail sub-industry. The fund is non-diversified.