FAS FAZ
Leveraged & Inverse ETFs

Direxion Daily Financial Bull and Bear 3X Shares
Overview
The Direxion Daily Financial Bull and Bear
3X Shares seek daily investment results,
before fees and expenses, of 300%, or300% of the inverse (or opposite), of theperformance of the Financial Select Sector
Index. There is no guarantee the funds
will achieve their stated investment
objectives.
These leveraged ETFs seek a return thatare 300% or -300% of the return of theirbenchmark index for a single day. Thefunds should not be expected toprovide three times or negative threetimes the return of the benchmark’s
cumulative return for periods greaterthan a day.

Target Index
The Financial Select Sector Index (IXMTR) is
provided by S&P Dow Jones Indices andincludes securities of companies from thefollowing industries: Banks; Thrifts &Mortgage Finance; Diversified Financial
Services; Consumer Finance; Capital Markets;
Insurance; and Mortgage Real Estate
Investment Trusts (REITs). One cannot invest
directly in an index.

Investing in a Direxion Shares ETF may be
more volatile than investing in broadly
diversified funds. The use of leverage by aFund increases the risk to the Fund. The
Direxion Shares ETFs are not suitable for all
investors and should be utilized only bysophisticated investors who understandleverage risk, consequences of seeking daily
leveraged, or daily inverse leveraged,
investment results and intend to actively
monitor and manage their investment.

FAS

Direxion Daily Financial Bull 3X Shares

FAZ

Direxion Daily Financial Bear 3X Shares

Fund Facts
Fund Symbol
Intraday Indicative Value

FAS

FAZ

FAS.IV

FAZ.IVIXMTRIXMTR

25459Y694

25460E240

Daily Target

300%-300%

Gross Expense Ratio

0.96%

1.09%

Net Expense Ratio*

0.96%

1.09%

11/6/2008

11/6/2008

Bloomberg Index Symbol
CUSIPInception Date

*The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees andExpenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.91% for FAS
and 0.95% for FAZ. The Funds' adviser, Rafferty Asset Management, LLC ("Rafferty"), has entered into an
Operating Expense Limitation Agreement with each Fund. Under the Operating Expense Limitation Agreement,
Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse the Funds
for Other Expenses through September 1, 2024, to the extent that a Fund’s Total Annual Fund Operating
Expenses exceed 0.95% of the Fund’s average daily net assets (excluding, as applicable, among otherexpenses, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on
short positions, other interest expenses, brokerage commissions and extraordinary expenses). If these
expenses were included, the expense ratio would be higher.

Index Top Ten Holdings %Index Sector Weightings %Berkshire Hathaway Class B

12.49

Financial Services

32.04

JP Morgan Chase

9.47

Banks

25.11

Visa

7.99

Capital Markets

23.10

Mastercard

6.80

Insurance

15.87

Bank Of America

4.46

Consumer Finance

3.88

Wells Fargo

3.44

S&P Global Inc

2.75

The Goldman Sachs Group

2.42

Morgan Stanley

2.27

Blackrock

2.19

Index data as of 12/31/2023. Index weightings andholdings are subject to change.

Performance (As of 12/31/2023)

FASFAZ

1M %

3M %

YTD %

1Y %

3Y %

5Y %

10Y %

S/I of thefund %

NAV

15.37

41.22

14.54

14.54

12.18

14.28

14.61

5.16

Market Close

15.64

41.28

14.99

14.99

12.25

14.34

14.64

5.18

NAV-13.57-31.16-26.53-26.53-37.45-51.63-42.15-54.38Market Close-13.85-31.25-26.72-26.72-37.49-51.67-42.16-54.38

5.40

14.03

12.15

12.15

IXMTR

Inception Date
11/06/08

11/06/08

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return andprincipal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current
performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For
the most recent month-end performance please visit the funds' website at direxion.com.
Short-term performance, in particular, is not a good indication of a fund’s future performance, and an investment should not be made based
solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional
information, see the fund’s prospectus.

FOR INFORMATION: 866-476-7523 | INFO@DIREXION.COM | DIREXION.COMAn investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus andsummary prospectus contain this and other information about the Direxion Shares. To obtain a Fund’s prospectus and summary prospectus call
866-476-7523 or visit our website at direxion.com. A Fund’s prospectus and summary prospectus should be read carefully before investing.
CUSIP Identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard and Poor’s
Financial Services, LLC, and are not for use or dissemination in any manner that would serve as a substitute for a CUSIP service. The CUSIP Database,©2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.
Shares of the Direxion Shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Market Price returns arebased upon the midpoint of the bid/ask spread at 4:00 pm EST (when NAV is normally calculated) and do not represent the returns you would receive if
you traded shares at other times. Brokerage commissions will reduce returns. Fund returns assume that dividends and capital gains distributions havebeen reinvested in the Fund at NAV. Some performance results reflect expense reimbursements or recoupments and fee waivers in effect during certain
periods shown. Absent these reimbursements or recoupments and fee waivers, results would have been less favorable.
The “Financial Select Sector Index” is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Rafferty. Standard & Poor’s® andS&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark
Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Rafferty. Rafferty’s ETFs
are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation
regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Financial SelectSector Index.
Direxion Shares Risks — An investment in each Fund involves risk, including the possible loss of principal. Each Fund is non-diversified and includes
risks associated with the Funds’ concentrating their investments in a particular industry, sector, or geographic region which can result in increasedvolatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks ofeach Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day
Investment Risk, Other Investment Companies (including ETFs) Risk, Cash Transaction Risk, Tax Risk, and risks specific to the securities of the FinancialSector. Performance of companies in the financials sector may be materially impacted by many factors, including but not limited to, government
regulations, economic conditions, credit rating downgrades, changes in interest rates and decreased liquidity in credit markets. Additional risks include,for the Direxion Daily Financial Bull 3X Shares, Daily Index Correlation Risk, and for the Direxion Daily Financial Bear 3X Shares, Daily Inverse Index
Correlation Risk, and risks related to Shorting. Please see the summary and full prospectuses for a more complete description of these and other risks ofeach Fund.
Distributor: Foreside Fund Services, LLC.

222 12312023 475336