Direxion Changes Index for Semiconductor ETFs

Rhea-AI Summary

Direxion has announced a change to the underlying index and investment objective for its Direxion Daily Semiconductor Bull 3X Shares (SOXL) and Direxion Daily Semiconductor Bear 3X Shares (SOXS). Effective around August 25, 2021, both ETFs will switch from the PHLX Semiconductor Sector Index to the ICE Semiconductor Index. These leveraged ETFs are designed for investors with a strong understanding of the inherent risks and are intended for active management. Direxion currently manages approximately $24.3 billion in assets as of March 31, 2021.

NEW YORK, June 21, 2021 /PRNewswire/ -- Direxion announced it is changing the underlying index and investment objective of the Direxion Daily Semiconductor Bull 3X Shares (Ticker: SOXL) and Direxion Daily Semiconductor Bear 3X Shares (Ticker: SOXS). On or about August 25, 2021, the underlying index for both will change as shown in the table below:

Fund Name	Current Index	New Index
Direxion Daily Semiconductor Bull 3X Shares	PHLX Semiconductor Sector Index	ICE Semiconductor Index
Direxion Daily Semiconductor Bear 3X Shares	PHLX Semiconductor Sector Index	ICE Semiconductor Index

Like all leveraged ETFs, these Direxion products are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions.

About Direxion:

Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion's reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $24.3 billion in assets under management as of March 31, 2021. For more information, please visit www.direxion.com.

There is no guarantee that the Funds will achieve their investment objectives.

For more information on all Direxion Shares daily leveraged ETFs, go to direxion.com, or call us at 866.301.9214.

Leveraged ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily leveraged and inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.

An investor should carefully consider a Fund's investment objective, risks, charges, and expenses before investing. A Fund's prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a Fund's prospectus and summary prospectus call 866-716-0735 or visit our website at direxion.com. A Fund's prospectus and summary prospectus should be read carefully before investing.

Direxion Shares Risks - An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration that results from an ETF's investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. The ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index for periods other than a single day. For other risks including leverage, correlation, daily compounding, market volatility and risks specific to an industry or sector, please read the prospectus.

Distributor: Foreside Fund Services, LLC.

CONTACT:	James Doyle
	JConnelly
	973.850.7308
	jdoyle@jconnelly.com

 

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SOURCE Direxion

FAQ

What changes are being made to the Direxion SOXL and SOXS ETFs?

Direxion is changing the underlying index for both the SOXL and SOXS ETFs from the PHLX Semiconductor Sector Index to the ICE Semiconductor Index, effective around August 25, 2021.

What is the significance of the new index for SOXL and SOXS?

The new ICE Semiconductor Index is expected to align the ETFs more closely with current market dynamics in the semiconductor sector.

What should investors consider regarding SOXL and SOXS?

Investors should be aware that these leveraged ETFs involve significant risk, and are suited for those who understand the complexities of leveraged investment strategies.

What is the current asset management value of Direxion?

As of March 31, 2021, Direxion manages approximately $24.3 billion in assets.