Direxion Daily S&P Biotech Bear 3x Shares

ARCA

2015

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1301 Avenue of the Americas,28th Floor,New York,New York,United States

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10019

646-572-3498

The fund, under normal circumstances, invests at least 80% of its 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 designed to measure the performance of the biotechnology sub-industry based on the Global Industry Classification Standards ("GICS"). The fund is non-diversified.