Fund Description: Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 3X Shares is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Direxion Shares ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Direxion Daily Robotics, Artificial Intelligi. & Automation Index Bull 3X Shares seeks daily investment results, before fees and expenses, of 300% of the price performance of the Indxx Global Robotics and Artificial Intelligence Thematic Index. The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund is different and much riskier than most exchange-traded fund and is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios as frequently as daily. INDEX DESCRIPTION: The Indxx Global Robotics and Artificial Intelligence Thematic Index is designed to provide exposure to exchange-listed companies in developed markets that are expected to benefit from the adoption and utilization of robotics and/or artificial intelligence, including companies involved in developing industrial robots and production systems, automated inventory management, unmanned vehicles, voice/image/text recognition, and medical robots or robotic instruments (collectively, Robotics & Artificial Intelligence Companies), as defined by Indxx (the Index Provider). Companies must have a minimum market capitalization of $100 million and a minimum average daily turnover for the last 6 months greater than, or equal to, $2 million in order to be eligible for inclusion in the Index. FUND STRATEGY: The Fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the Index, exchange-traded funds (ETFs) that track the Index and other financial instruments that provide daily leveraged exposure to the Index or ETFs that track the Index. The financial instruments in which the Fund normally invests include swap agreements and futures contracts which are intended to produce economically leveraged investment results. On a day-to-day basis, the Fund is expected to hold money market funds, deposit accounts with institutions with high quality credit ratings, and/or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements. The Fund may invest in the securities of the Index, a representative sample of the securities in the Index that has aggregate characteristics similar to those of the Index, an ETF that tracks the Index or a substantially similar index, or utilize derivatives such as swaps on the Index, swaps on an ETF that tracks the same Index or a substantially similar index as the Fund, or futures contracts that provide leveraged exposure to the above. FUND MANAGEMENT: Rafferty Asset Management, LLC serves as the Fund’s investment adviser.