BOED

Direxion Daily BA Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the daily performance of BA. The fund, under normal circumstances, invests at least 80% of the fund's net assets (plus borrowings for investment purposes) in financial instruments, including swap agreements and options, that, in combination, provide 1X daily inverse (opposite) or short exposure to BA, consistent with the fund's investment objective. The fund is non-diversified.