1. Overview, Disclosures, and Suitability

This chapter is meant to help you understand if Direxion Shares are right for you.

2. Introducing Leveraged and Inverse ETFs

This chapter describes the investment objective, composition, and exposure levels of a daily 3x leveraged ETF.

3. How Does the Daily Rebalancing Work?

This chapter describes the performance and net asset impact of a 1% or -1% movement of the underlying benchmark index for a Daily 3x leveraged Bull ETF.

4. Compounding: When Markets Rise Steadily

This chapter describes the impact of holding a Daily 3x Leveraged Bull fund for a period of a week when the markets are rising steadily.

5. Compounding: When Markets Decline Steadily

This chapter describes the impact of holding a Daily 3x Leveraged Bull fund for a period of a week when the markets are declining steadily.

6. Compounding: When Markets are Flat but Volatile

This chapter describes the impact of holding a Daily 3x Leveraged Bull fund for a period of a week when the markets are flat, yet volatile.