Direxion Daily PYPL Bull 2X ETF (PYPU)

The Direxion Daily PYPL Bull 2X ETF is a leveraged single-stock fund from Direxion, a New York-based sponsor of leveraged and inverse ETFs. Its underlying stock is PayPal Holdings, the online payments company.

The fund seeks daily investment results, before fees and expenses, of 200% of the daily percentage change in PayPal's share price. It achieves this exposure primarily through swap agreements.

Since leverage is rebalanced daily, the fund targets one-day returns. Over longer periods its performance can diverge meaningfully from two times PayPal's return due to the effects of compounding and volatility. The fund trades on NYSE Arca under the ticker PYPU.