TECS

Direxion Daily Technology Bear 3X Shares seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Technology Select Sector Index. The fund, under normal circumstances, invests at least 80% of it's net assets (plus borrowing for investment purposes) 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. The index is provided by S&P Dow Jones Indices (the "index provider") and includes domestic companies from the technology sector. It is non-diversified.