The Direxion Daily Oil Services Bull 2X Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the MVIS US Listed Oil Services 25 Index (MVOIHTR). There is no guarantee that the fund will achieve its stated investment objective.
This fund tracks a commodity related equity index, consisting of a basket of oil services related stocks. It does not invest in physical commodities and should not be expected to directly track the price performance of oil commodities.
|Fund Symbol||Daily Target||Intra-day Value||Benchmark Index||Security Identifier||Expense Ratio (gross/net %)||Inception Date|
|ONG||200%||ONG.IV||MVOIHTR||25460G435||1.24 / 0.98*||Jan 20, 2022|
This leveraged ETF seeks a return that is 200% of the return of its benchmark index for a single day. The fund should not be expected to provide two times the return of the benchmark’s cumulative return for periods greater than a day.
Documents & Downloads
The MVIS US Listed Oil Services 25 Index (MVOIHTR) includes companies that have common stocks or depositary receipts listed on a U.S. stock exchange and that provide services to the oil industry. To be eligible for initial inclusion in the Index, companies must generate at least 50% of their revenues from providing services to upstream oil companies, such as those engaged primarily in providing oil equipment, oil services or oil drilling. Of the largest 50 such stocks by full market capitalization, the top 25 by free-float market capitalization and three-month average daily trading volume are included in the Index. One cannot directly invest in an index.
Strategy & Benefits
You know that TRADING is different than investing. But the opportunity to take advantage of short-term trends is only won, if you get the direction right.
Whether you’re a bull or a bear, Direxion is with you. Our leveraged ETFs are powerful tools built to help you:
- Magnify your short-term perspective with daily 2X leverage
- Go where there’s opportunity, with bull and bear funds for both sides of the trade; and
- Stay agile – with liquidity to trade through rapidly changing markets
Leveraged and inverse ETFs pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments.
Pricing & Performance
NAV and Market Price information as of March 28, 2023. Line chart shows pricing trend over the last 30 days.
- 28.81NAV $
- 1.33Change $
- 4.84Change %
- 28.76Market $
- 1.30Change $
- 4.74Change %
|monthly||1M %||3M %||YTD %||1Y %||3Y %||5Y %||10Y %||Since Inception||Inception Date||Expense Ratio*|
(Gross / Net %)
|NAV||-12.72||0.99||1.56||22.70||—||—||—||45.59||01/20/2022||1.24 / 0.98*|
|quarterly||1M %||3M %||YTD %||1Y %||3Y %||5Y %||10Y %||Since Inception||Inception Date||Expense Ratio*|
(Gross / Net %)
|NAV||-0.56||99.25||—||—||—||—||—||49.38||01/20/2022||1.24 / 0.98*|
The Primary Listing Exchange is the NYSE Arca, Inc.
* The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.95%. The Fund’s adviser, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with the Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse the Fund for Other Expenses through September 1, 2024, to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.95% of the Fund’s average daily net assets (excluding, as applicable, among other expenses, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses). If these expenses were included, the expense ratio would be higher.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized.
Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus.
|Record Date||Ex Date||Pay Date||Income Dividend||Short-Term Capital Gain||Long-Term Capital Gain|