The Direxion Daily S&P Biotech Bull 3X Shares, trading under the ticker LABU, seeks daily investment results, before fees and expenses, of 300% of the performance of the S&P Biotechnology Select Industry Index.
The Direxion Daily S&P Biotech Bear 3X Shares, trading under the ticker LABD, similarly seeks to magnify returns on the performance of the S&P Biotechnology Select Industry Index, but this time by seeking daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the index’s performance.