Direxion Daily Magnificent 7 Bull 2X ETF (QQQU)

The Direxion Daily Magnificent 7 Bull 2X ETF (ticker QQQU) is a leveraged exchange-traded fund from Direxion. It seeks daily investment results, before fees and expenses, of 200% of the daily performance of the Bloomberg Magnificent 7 Total Return Index.

The index holds equal-weighted positions in Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla, seven large U.S. companies that have driven much of the technology-led market. The fund obtains leverage through swap agreements and may hold the stocks directly, rebalancing daily.

Because the objective resets each day, compounding can cause returns over longer periods to differ significantly from twice the index's return.