Direxion Daily Baba Bull 2X ETF (BABU)

The fund, under normal circumstances, invests at least 80% of its net assets (plus any borrowings for investment purposes) in the securities of BABA and financial instruments, such as swap agreements and options, that, in combination, provide 2X daily leveraged exposure to BABA, consistent with the fund’s investment objective. The fund is non-diversified.