Direxion Daily Financial Bear 3X ETF

Direxion Daily Financial Bear 3X Shares is a triple inverse exchange traded fund. Launched on 6 November 2008, the company is managed by Direxion. As a triple inverse ETF, the fund aims to gain 300%, excluding fees and other costs, from a decline in the overall daily value of components in its benchmark, the Russell 1000 Financial Services Index. The Russell 1000 Financial Services Index monitors the performance of the top 1,000 US public companies in the financial services sector, ranked by market capitalisation. Companies that reach the market capitalisation required for inclusion in the top 1,000 are added to the list, which may therefore sometimes contain more than 1,000 stocks. This index is part of the Russell 1000 Index, which in turn comprises a third of the 3,000 largest US companies included in the Russell 3000 Index. The Direxion Daily Financial Bear 3X Shares follows the Russell 1000 Financial Services Index not to replicate it but to take advantage of a decline in this market or in the value of the index. The fund invests a large proportion of assets, including borrowed funds, in various financial instruments in the index, such as futures contracts, short positions, or swap agreements, with a view to profiting from well-timed entries and exits. The fund’s base currency is the US dollar. The fund trades on the NYSE under the ticker FAZ. Add FAZ stock to your eToro virtual portfolio.