Direxion Daily Ether Bull 2X ETF (EVMU)

The Direxion Daily Ether Bull 2X ETF (EVMU) is a leveraged exchange-traded fund from Direxion. It seeks daily investment results, before fees and expenses, of 200% of the daily performance of ether, the cryptocurrency of the Ethereum network.

The fund does not hold ether directly. It obtains its leveraged exposure through derivatives such as swap agreements or futures contracts, together with cash and short-term instruments, and it rebalances to its target leverage each trading day.

Because the fund's objective is a daily multiple, its returns over periods longer than one day can differ meaningfully from twice ether's return, especially during volatile markets. Direxion designs its daily leveraged funds as short-term trading tools.