Key stats
About Direxion Daily Consumer Staples Bull 3x Shares
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Inception date
Nov 29, 2018
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Rafferty Asset Management LLC
Distributor
Foreside Fund Services LLC
Identifiers
3
ISIN US25459Y7857
This fund closed on October 16, 2020. NEED is a daily 3x leveraged bet on the S&P Consumer Staples Select Industry Index. NEED does this through a portfolio swaps contracts that gets rebalanced at the end of each trading day. Because of this rebalancing, the funds return for periods longer than a day becomes path dependent, and is likely to be different from three times the return of the index for the same period. This makes NEED suitable primarily for short-term traders. The expense ratio has minimal impact on the cost of holding these funds for a short period of time, and would matter little to someone who is speculating on the short-term movements of biotech companies. Trading costs as reflected in spreads, and potential premium/discounts are the predominant consideration here.
Related funds
Classification
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
Top 10 holdings
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
NEED trades at 687.000 MXN today, its price has fallen −5.60% in the past 24 hours. Track more dynamics on NEED price chart.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
NEED invests in cash. See more details in our Analysis section.
NEED expense ratio is 0.98%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
Yes, NEED is a leveraged ETF, meaning it uses borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
NEED trades at a premium (0.41%).
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
NEED shares are issued by Rafferty Asset Management LLC
NEED follows the S&P Consumer Staples Select Sector. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Nov 29, 2018.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.