Symbols

EURL

Direxion Daily FTSE Europe Bull 3X Shares·NYSE

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Key Stats

Assets Under Management

53.06MUSD

Fund Flows (1Y)

10.07MUSD

Dividend Yield

1.28%

Discount/Premium to NAV

0.19%

Shares Outstanding

1.10M

Expense Ratio

1.05%

About Direxion Daily FTSE Europe Bull 3X Shares

Issuer

Rafferty Asset Management, LLC

Brand

Direxion

Home Page

http://www.direxionfunds.com/products/direxion-daily-ftse-europe-bull-3x-etf

Inception Date

Jan 22, 2014

Structure

Open-Ended Fund

Index Tracked

FTSE Developed Europe All Cap Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Rafferty Asset Management LLC

Distributor

Foreside Fund Services LLC

EURL is a 3x levered play on the FTSE Developed Europe Index, a market-cap-weighted index of total market stocks in developed Europe. The usual caveats for geared funds apply emphatically for 3x gearing: The fund rebalances its exposure on a daily basis, and is directly affected by issues of path dependency and compounding. As a result, its long-term returns are unlikely to achieve the 3x multiple. Returns are helped by strong trends and hurt by volatility. EURL isn't appropriate for buy-and-hold investors. Note: The fund switched underlying indexes on August 22, 2016 to a slightly different and arguably better FTSE index. The index tracked at 1x by Vanguard's VGK includes small-caps, thereby providing more complete coverage of the space.