Phone: 866-476-7523 33 Whitehall Street 10th Floor
New York, NY 10004
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Fund Inception Date: 17-Dec-08
Legal Type: Exchange Traded Fund
Direxion Daily Emerging Markets Bear 3x Shares (the Fund), formerly Emerging Markets Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the MSCI Emerging Markets Index (the EM Index). The EM Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. The Fund does not invest in equity securities. The Fund creates short positions by investing at least 80% of its net assets in financial instruments that, in combination, provide leveraged and unleveraged exposure to the EM Index, and the remainder in money market instruments. The Fund’s investment advisor is Rafferty Asset Management LLC. Fund Objective
The Emerging Markets Bear 3X Shares seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the price performance of the MSCI Emerging Markets IndexSM. There is no guarantee the fund will meet its stated investment objective.
The MSCI Emerging Markets IndexSM is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. As of September 30, 2007, the MSCI Emerging Markets Index consisted of the following 21 emerging market country indices: Argentina, Brazil, Chile, China, Czech Republic, Egypt, Hong Kong, Hungary, India, Indonesia, Israel, Malaysia, Mexico, Peru, Philippines, Russia, South Africa, South Korea, Taiwan, Thailand and Turkey. One cannot directly invest in an Index.
Index Sector Weightings
Financial Services 21.85%
Cons. Staples 5.89%
Cons. Discretionary 3.06%
Data as of 3/31/2009 is subject to change at any time.
iShares MSCI Emerging Markets Index