DIREXION SH ETF TR

The Fund seeks daily investment results, before fees and expenses, of 100 percent of the inverse (or opposite) of the daily performance of MSFT. The Fund, under normal circumstances, invests in financial instruments, including swap agreements and options, that, in combination, provide inverse (opposite) or short leveraged exposure to MSFT equal to at least 80 percent of the Funds net assets (plus borrowings for investment purposes).