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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 ...
The huge increase in leveraged and options ETFs has coincided with an impressive stock-market rally. The S&P 500 is up 58% since the start of 2023, a favorable environment for long-leveraged products.
The largest ETF, as of April 2021, was the SPDR S&P 500 ETF Trust (NYSE Arca: SPY), with about $353.4 billion in assets. The second-largest was the iShares Core S&P 500 ETF with around $270.0 billion (NYSE Arca: IVV), and third-largest was the Vanguard Total Stock Market ETF (NYSE Arca: VTI) with $213.1 billion. [3]
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.
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.
An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. [1] [2] [3] ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or commodities such as gold bars.
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