UTSL – Direxion Daily Utilities Bull 3X ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks daily investment results, before fees and expenses, of 300% of the daily performance of the Utilities Select Sector Index. The fund invests at least 80% of its net assets in financial instruments, such as swap agreements, securities of the index, and exchange-traded funds ("ETFs") that track the index, that, in combination, provide 3X daily leveraged exposure to the index, consistent with the fund's investment objective. The index includes domestic companies from the utilities sector which includes the following industries: electric utilities; multi-utilities; water utilities and etc. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
UTSL	Direxion Daily Utilities Bull 3X Shares	ETF	Open	—	—	May 3, 2017	$59.80M	0.970%	—	—	$31.01M

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