Direxion Daily S&P 500 Bull 2X ETF

The Direxion Daily S&P 500 Bull 2X ETF (SPUU), listed on the NYSE Arca and launched on May 28, 2014, is a leveraged exchange-traded fund managed by Rafferty Asset Management, LLC under the Direxion brand that seeks daily investment results equal to 200% of the performance of the S&P 500® Index, before fees and expenses. With approximately $250 million in assets under management and a net expense ratio of 0.60%, the fund achieves its leveraged exposure through a combination of direct equity holdings and derivatives such as swaps and futures contracts, with top holdings including NVIDIA, Microsoft, and Apple. As a single-day leveraged product, SPUU is primarily designed for short-term tactical trading rather than long-term buy-and-hold strategies, as cumulative returns over periods longer than one day may differ significantly from the stated 2x objective. The fund is domiciled in the United States, trades in USD, and is available for sale in both the United States and Mexico.