SPDN

Direxion Daily S&P 500 Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the daily performance of the S&P 500 Index. The index is designed to be comprised of stocks that are the 500 leading, large-cap U.S.-listed issuers. The fund invests at least 80% of the fund's net assets in swap agreements, futures contracts, short positions or other financial instruments that provide inverse (opposite) or short daily exposure to the index or to ETFs that track the index, which, in combination, provider returns consistent with the objective. It is non-diversified.