| Investment Objective: |
The Direxion Daily AVGO Bear 1X Shares seek daily investment results, before fees and expenses, of 100% of the inverse (or opposite), of the performance of the common shares of Broadcom Inc. (NASDAQ: AVGO). Broadcom Inc. is an American multinational designer, developer, manufacturer, and global supplier of a wide range of semiconductor and infrastructure software products. Broadcom's product offerings serve the data center, networking, software, broadband, wireless, storage, and industrial markets. The fund invests in financial instruments, including swap agreements and options, that, in combination, provide 1X daily inverse (opposite) or short exposure to AVGO, consistent with the Fund's investment objective. The Fund will enter into one or more swap agreements with major global financial institutions whereby the Fund and the global financial institution will agree to exchange the return earned on an investment by the Fund in AVGO that is equal, on a daily basis, to -100% of the value of the Fund's net assets. The Adviser attempts to consistently apply leverage to obtain short AVGO exposure for the Fund equal to -100% of the value of its net assets and expects to rebalance the Fund's holdings daily to maintain such exposure. |
