Direxion Daily SHOP Bull 2X ETF (SHPU)

The Direxion Daily SHOP Bull 2X ETF is a leveraged exchange-traded fund from Direxion that seeks daily investment results equal to 200% of the daily percentage change in the share price of Shopify Inc. Shopify, based in Ottawa, Canada, provides an e-commerce platform that lets merchants run online stores, point-of-sale systems and related payment and logistics services.

The fund obtains its leveraged exposure mainly through swap agreements and other derivatives. Because it resets its leverage each day, it targets twice the stock's return for a single day only; over longer holding periods, compounding can cause the fund's results to differ significantly from twice the stock's cumulative return, particularly when the stock is volatile.