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The Direxion Daily 20+ Year Treasury Bull 3X Shares seek daily investment results, before fees and expenses, of 300% of the performance of the ICE U. S. Treasury 20+ Year Bond Index. There is no guarantee the funds will meet their stated investment objectives. These leveraged ETFs seek a return that is 300% of the return of their benchmark index for a single day.
The funds should not be expected to provide three times the return of the benchmark’s cumulative return for periods greater than a day. The ICE U. S. Treasury 20+ Year Bond Index (IDCOT20TR) is a market value weighted index that includes publicly issued U. S. Treasury securities that have a remaining maturity of greater than 20 years. Eligible securities must be fixed rate, denominated in U. S. dollars, and have $300 million or more of outstanding face value, excluding amounts held by the Federal Reserve. Securities excluded from the Index are zero-coupon STRIPS, inflation linked securities, floating rate notes, cash management and Treasury bills, and any government agency debt issued with or without a government guarantee. One cannot directly invest in an index. .