Direxion Changes the Investment Objectives and Strategies of Three Daily Leveraged Funds

Funds’ Exposure will be reduced from 300% to 200%

NEW YORK—October 09, 2020—The investment objective and strategy of each Fund in the table below is currently to seek daily leveraged investment results, before fees and expenses, of 300% of the performance of its underlying index. Effective after market close on October 29, 2020, each Fund’s investment objective and strategy will change to seek daily leveraged investment results, before fees and expenses, of 200% of the performance of its underlying index, as shown below:

In addition, the “3X” in each Fund’s name will be replaced with “2X”as follows:

During the transition period leading up to the leverage change, some, or all, of the Funds will not achieve their current investment objectives of seeking daily leveraged investment results, before fees and expenses, of 300% of the performance of their underlying index.

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, investing in macro themes, or building long-term asset allocation 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 $16.7 billion in assets under management as of  September 30, 2020. For more information, please visit www.direxion.com.

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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.