Direxion Daily Small Cap Bear 3x Shares TZA

Direxion Daily Small Cap Bear 3x Shares is a triple inverse Exchange Traded Fund. It was launched on 5 November, 2008, and is overseen by Direxion. As a triple inverse ETF, the fund aims to gain 300%, outside of fees and other costs, from a decline in the overall daily value of components in its benchmark, the Russell 2000 Index.

The Russell 2000 Index evaluates the performance of the 2,000 smaller companies participating in the US market and listed in the Russell 3000 Index. Russell 2000, due to its focus on smaller entities, is considered a reliable predictor of the US economy’s overall performance. Companies included in the Russell 2000 Index are selected based on index membership and market capitalisation combined. They comprise the bottom two-thirds of the Russell 3000 Index. The Direxion Daily Small Cap Bear 3x Shares ETF monitors the Russell 2000 Index to take advantage of a decline in this market or in the value of the index.

This ETF invests borrowed funds, as well as a major proportion of its resources, in financial instruments such as futures contracts, swap agreements, or short positions in the index, with the intention of profiting from well-timed trade entries and exits. The fund is non-diversified. Its base currency is the US dollar. Direxion Daily Small Cap Bear 3x Shares trades on the NYSE using the ticker TZA.

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