Direxion Daily S&P Biotech Bull 3X 

This Direxion fund, the S&P Biotech Bull 3X ETF (and its corresponding Bear version), aims to deliver daily returns equivalent to three times (300%) the performance of the S&P Biotechnology Select Industry Index. For the Bear fund, the objective is to provide three times the opposite daily movement of the same index. These targets are set prior to the deduction of fees and expenses. It is crucial for investors to understand that there is no guarantee these funds will consistently achieve their stated daily investment objectives.