An exchange-traded fund, or ETF, is an investment product representing a basket of securities that track an index such as the Standard & Poors 500 Index. ETFs, which are available to individual investors only through brokers and advisers, trade like stocks on an exchange.

Direxion SharesandUltra ProSharesare leveraged Exchange-Traded Funds (ETFs) designed to seek daily investment results, before fees and expenses, of 300% / 3x of the performance (or 300% / 3x of the inverse of the performance, in the case of a bear fund), of the benchmark index that they track. There is no guarantee that the funds will achieve their objective.

Direxion Daily Aerospace & Defense Bull 3x ETF

Direxion Daily Homebuilders & Supplies Bull 3x ETF

Direxion Daily Junior Gold Miners Bull 3x ETF

Direxion Daily Junior Gold Miners Bear 3x ETF

Direxion Daily Natural Gas Related Bull 3x ETF

Direxion Daily Natural Gas Related Bear 3x ETF

Direxion Daily S&P Oil & Gas Exp. Bull 3x ETF

Direxion Daily S&P Oil & Gas Exp. Bear 3x ETF

ProShares UltraPro 20+ Year Treasury Bear3x ETF

ProShares UltraPro NASDAQ Biotech Bull 3x ETF

ProShares UltraPro NASDAQ Biotech Bear 3x ETF

ProShares UltraPro S&P Midcap 400 Bull 3x ETF

ProShares UltraPro S&P Midcap 400 Bear 3x ETF

3x ETFs offer the highest amount of magnification available in the ETF marketplace today, which increases the level of volatility associated with a particular fund. These Exchange Traded Funds are intended for use only by sophisticated investors who understand the risks associated with the use of leverage, understand the consequences of seeking daily leveraged investment results, and intend to actively monitor and manage their investments.