| Investment Objective: |
The Direxion Daily MU Bull 2X Shares seek daily investment results, before fees and expenses, of 200% 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 the securities of MU and financial instruments, such as swap agreements and options, that, in combination, provide 2X daily leveraged exposure to MU, consistent with the Fund's investment objective. The financial instrument in which the Fund most commonly invests is swap agreements which are intended to produce economically leveraged investment results. 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 200% of the value of the Fund's net assets. The Adviser attempts to consistently apply leverage to obtain MU exposure for the Fund equal to 200% of the value of its net assets and expects to rebalance the Fund's holdings daily to maintain such exposure. |
