Direxion Daily QCOM Bull 2X and Bear 1X ETFs
The Direxion Daily QCOM Bull 2X ETF and Direxion Daily QCOM Bear 1X ETF seek daily investment results, before fees and expenses, of 200% and 100% of the inverse (or opposite), respectively, of the performance of the common shares of QUALCOMM Incorporated (NASDAQ: QCOM).
Investing in the funds involves a high degree of risk. Unlike traditional ETFs, or even other leveraged and/or inverse ETFs, these leveraged and/or inverse single-stock ETFs track the price of a single stock rather than an index, eliminating the benefits of diversification. 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 stock’s performance 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. The Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Bull Fund will lose money even if the underlying stock’s performance increases, and the Bear Fund will lose money even if the underlying stock’s performance decreases, over a period longer than a single day. Investing in the Funds is not equivalent to investing directly in QCOM.
QCMU
QCMD
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Single Stock Exposure
QUALCOMM Incorporated is a global leader in the development and commercialization of wireless technologies incorporated in 1985. QUALCOMM Incorporated is involved in the development and commercialization of foundational technologies for the wireless industry, including 3G (third generation), 4G (fourth generation) and 5G (fifth generation) wireless connectivity, and high-performance and low-power computing including on-device artificial intelligence. QCOM is registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Information provided to or filed with the Securities and Exchange Commission by Qualcomm Inc. pursuant to the Exchange Act can be located by reference to the Securities and Exchange Commission file number 000-19528 through the Securities and Exchange Commission’s website at www.sec.gov. In addition, information regarding Qualcomm Inc. may be obtained from other sources including, but not limited to, press releases, newspaper articles and other publicly disseminated documents.
Important Information Regarding QCMU
The Direxion Daily QCOM Bull 2X ETF (QCMU) seeks 200% daily leveraged investment results and thus will have an increase of volatility relative to the underlying QCOM performance itself. Longer holding periods, higher volatility of QCOM and leverage increase the impact of compounding on an investor’s returns. During periods of higher QCOM volatility, the volatility of QCOM may affect the fund’s performance.
Important Information Regarding QCMD
The Direxion Daily QCOM Bear 1X ETF (QCMD) seeks daily inverse investment results and is very different from most other exchange-traded funds. Longer holding periods and higher volatility of QCOM increase the impact of compounding on an investor’s returns. During periods of higher volatility, the volatility of QCOM may affect the fund’s return as much as, or more than, the return of QCOM.
Pricing & Performance
NAV and Market Price information as of 06/02/2026.
| 1M | 3M | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception (06/25/2025) | Expense Ratio* (Gross / Net%) | |
|---|---|---|---|---|---|---|---|---|---|
| QCMU NAV | 79.98 | 174.02 | 82.06 | — | — | — | — | 100.00 | 2.44 / 1.07* |
| QCMU Market Close | 80.01 | 174.77 | 82.20 | — | — | — | — | 100.43 | 2.44 / 1.07* |
| QCMD NAV | -33.40 | -49.30 | -39.71 | — | — | — | — | -46.74 | 2.76 / 1.00* |
| QCMD Market Close | -33.26 | -49.28 | -39.57 | — | — | — | — | -46.70 | 2.76 / 1.00* |
As of May 31, 2026
*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 Funds’ adviser, Rafferty Asset Management, LLC (“Rafferty”), has entered into an Operating Expense Limitation Agreement with each Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse a Fund for Other Expenses through September 1, 2027, to the extent that a 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. For the most recent month-end performance please visit the funds’ website at direxion.com. Short-term performance, in particular, is not a good indication of a 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.
Distributions
QCMU Direxion Daily QCOM Bull 2X ETF
| Record Date | Ex Date | Pay Date | Income Dividend | Short-Term Capital Gain | Long-Term Capital Gain | |
|---|---|---|---|---|---|---|
| 03/24/2026 | 03/24/2026 | 03/31/2026 | 0.12665 | — | — | |
| 12/23/2025 | 12/23/2025 | 12/31/2025 | 0.20711 | — | — | |
| 09/23/2025 | 09/23/2025 | 09/30/2025 | 0.21691 | — | — | |
Record Date03/24/2026 Ex Date03/24/2026 Pay Date03/31/2026 Income Dividend0.12665 Short-Term Capital Gain— Long-Term Capital Gain— Record Date12/23/2025 Ex Date12/23/2025 Pay Date12/31/2025 Income Dividend0.20711 Short-Term Capital Gain— Long-Term Capital Gain— Record Date09/23/2025 Ex Date09/23/2025 Pay Date09/30/2025 Income Dividend0.21691 Short-Term Capital Gain— Long-Term Capital Gain— | ||||||
QCMD Direxion Daily QCOM Bear 1X ETF
| Record Date | Ex Date | Pay Date | Income Dividend | Short-Term Capital Gain | Long-Term Capital Gain | |
|---|---|---|---|---|---|---|
| 03/24/2026 | 03/24/2026 | 03/31/2026 | 0.12768 | — | — | |
| 12/23/2025 | 12/23/2025 | 12/31/2025 | 0.18507 | — | — | |
| 09/23/2025 | 09/23/2025 | 09/30/2025 | 0.19954 | — | — | |
Record Date03/24/2026 Ex Date03/24/2026 Pay Date03/31/2026 Income Dividend0.12768 Short-Term Capital Gain— Long-Term Capital Gain— Record Date12/23/2025 Ex Date12/23/2025 Pay Date12/31/2025 Income Dividend0.18507 Short-Term Capital Gain— Long-Term Capital Gain— Record Date09/23/2025 Ex Date09/23/2025 Pay Date09/30/2025 Income Dividend0.19954 Short-Term Capital Gain— Long-Term Capital Gain— | ||||||
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