Direxion Daily Energy Bull 2X Shares (ERX)

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Volatility causes the objectives not to be achieved..

Funds may incur higher costs and may be forced to purchase and sell securities at market prices that do not represent their fair value or that result in differences between the price a Fund receives for the security or the value of the swap exposure and the market closing price of the security or the swap exposure. Under such circumstances, a Fund may have difficulty achieving its investment objective for one or more trading days;