| Investment Objective: |
The Direxion Daily MU 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 Micron Technology, Inc. (NASDAQ: MU). Micron Technology, Inc. is a semiconductor company that produces computer memory and computer data storage, including dynamic random-access memory, flash memory, and USB flash drives. The fund invests in financial instruments, including swap agreements and options, that, in combination, provide 1X daily inverse (opposite) or short exposure to MU, 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 MU 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 MU 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. |
