March 13, 2020
The Direxion Daily MSCI India Bull 3X Shares (the Fund)
seeks daily leveraged investment results and is very different
from most other exchange-traded funds. As a result, the
Fundmay be riskier than alternatives that do not use leverage
because the Funds objective is to magnify the daily
performance of the MSCI India Index (the Index). This
means that the return of the Fund for a period longer than
a trading day will be the result of each trading days
compounded return over the period, which will very likely
differ from 300% of the return of the Index for that period.
As a consequence, longer holding periods, higher volatility
of the Index and greater leverage increase the impact of
compounding on an investors returns. During periods of
higher Index volatility, the volatility of the Index may affect
the Funds return as much as, or more than, the return of
the Index. Further, the return for investors that invest for
periods less than a trading day will not be 300% of the
performance of the Index for the trading day.
The Fundis not suitable for allinvestors. The Fundis designed
to be utilized only by knowledgeable investors who
understand the potential consequences of seeking daily
leveraged (3X) investment results, understand the risks
associatedwith the use ofleverage and arewilling tomonitor
their portfolios frequently. The Fund is not intended to
be used by, and is not appropriate for, investors who do
not intend to actively monitor and manage their portfolios.
For periods longer than a single day, the Fund will lose
money if the Indexs performance is flat, and it is possible
that the Fundwilllosemoney evenif theIndexs performance
increases over a period longer than a single day. An investor
could lose the full principal value of his/her investment
within a single day