QQQD

Direxion Daily Concentrated Qs Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the daily performance of the Indxx Front of the Q Index. The index is designed to track the performance of the seven largest NASDAQ listed companies, as identified by Indxx. The fund, under normal circumstances, invests at least 80% of the fund's net assets in financial instruments, including swap agreements, futures contracts, or short positions, that, in combination, provide 1X daily inverse or short exposure to the index or to ETFs that track the index, consistent with the fund's investment objective. The fund is non-diversified.