Direxion Daily Russia Bear 3X Shares (RUSS)
Direxion Daily Russia Bear 3X Shares operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in US. The stock last traded at $9.09, up 16.39% on the session, giving a market capitalisation of $24.3M. Its beta of -2.38 implies it has historically moved less than the broad market.
This fund aims to deliver daily returns that are three times (300%) the opposite of the MVIS Russia Index's daily performance, before any fees or costs are deducted. To achieve this objective, it allocates a significant portion—at least 80%—of its net assets to a combination of financial instruments like swap agreements, futures contracts, and short positions. These tools are strategically employed to create an amplified, inverse exposure to the underlying index. The MVIS Russia Index, which serves as the fund's benchmark, is a rules-based index designed to represent the collective performance of publicly traded companies. These companies are either based and primarily listed on an exchange in Russia, or, if not Russian, they generate 50% or more of their revenue within Russia. It's important to note that this fund maintains a concentrated, non-diversified portfolio.
Direxion Daily Russia Bear 3X Shares is most often compared with the following Financial Services names: