Key stats
About DIREXION SHARES ETF TRUST DAILY CONSUMER STAPLES BULL 3X SHS
Expense ratio
0.98%
Home page
Inception date
Nov 29, 2018
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.
Classification
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%