The Direxion Daily S&P Biotech Bull 3X Shares LABU, seeks daily investment results, before fees and expenses, of 300% of the performance of the S&P Biotechnology Select Industry Index.
The Direxion Daily S&P Biotech Bear 3X Shares LABD, similarly seeks to magnify returns on the performance of the S&P Biotechnology Select Industry Index, but this time by seeking daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the index’s performance.
Daily investment in these funds provides the ability for investors to magnify exposure, whether positive or inverse, to the daily performance of the Index.
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