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Direxion Daily S&P 500 Bull 3x (SPXL) This ETF aims for three times the daily return on the S&P 500, which can run higher quickly in a raging bull market. The average daily volume is 3.4 million ...
Direxion Daily S&P 500 Bull 2x ETF (NYSE Arca SPUU) - tracks 2x the S&P 500 Index; Direxion Daily S&P 500 Bull 3x ETF (NYSE Arca SPXL) - tracks 3x the S&P 500 Index; Direxion Energy Bull 3x ETF (NYSE Arca ERX) Direxion Financials Bull 3x ETF (NYSE Arca FAS) - tracks XLF or RIFIN; Direxion Large Cap Bull 3x (NYSE Arca BGU) tracks 3x the Russell ...
As the name suggests, the Direxion Daily S&P 500 Bull 3X Shares ETF attempts to provide triple the return of the S&P 500 index on a daily basis. Fund management stresses that investors should not ...
In November 2008 the company was the first to offer ETFs with 3X leverage, a move that was copied some months later by its competitors ProShares and Rydex Investments. The move made it one of the fastest-growing ETF companies, with its sixteen 3X ETFs reaching a total of $3.4 billion in assets by April 2009.
So, a fund like the Direxion Daily S&P 500 Bull 3X Shares (SPXL) offers three times the performance of the S&P 500 index for that day. If the index goes up, the ETF should go up three times as much.
An inverse S&P 500 ETF, for example, seeks a daily percentage movement opposite that of the S&P. If the S&P 500 rises by 1%, the inverse ETF is designed to fall by 1%; and if the S&P falls by 1%, the inverse ETF should rise by 1%. Because their value rises in a declining market environment, they are popular investments in bear markets.
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