DIREXION DAILY S&P 500 BULL 2X SHARES ETF

The investment seeks daily investment results, before fees and expenses, of 200% of the daily performance of the S&P 500® Index. The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, securities of the index, and exchange-traded funds (ETFs) that track the index and other financial instruments that provide daily leveraged exposure to the index or to ETFs that track the index. The index is a float-adjusted, market capitalization-weighted index. The fund is non-diversified.