The Direxion Daily Financial Bull 3X Shares ETF (FAS) fund aims to achieve a return performance of 300% of that of the Russell 1000 Financial Services index. This index is a subcategory of the Russell 1000 Index, which measures the performance of securities classified as financial services in the large-cap equity market in the United States. The FAS ETF invests in a number of sectors including banks, financial services data and systems, asset management and custody, securities brokerage services and consumer lending. The fund invests 80% of its net assets in futures contracts, equity caps, collars and floors, swaps, futures contracts, short-term positions, ETFs or other financial instruments. The fund’s advisor is Rafferty Asset Management.
This fund has the advantage of offering economic results (whether positive or negative) in the very short term due to its leverage and liquidity. At the same time, the leverage mechanism itself makes it riskier than other funds. CFDs can be used to trade this ETF in an even milder way as they can also be used to trade small amounts of capital.
To trade with Direxion Daily Financial Bull 3X Shares ETFs, you can use the Plus500 platform, which also specializes in online ETF trading as well as various other financial instruments.