Direxion Daily LLY Bear 1X ETF

Frequently Asked Questions About ELIS

What does ELIS invest in?

The Direxion Daily LLY Bull 2X ETF and Direxion Daily LLY Bear 1X ETF seek daily investment results, before fees and expenses, of 200% and 100% of the inverse (or opposite), respectively, of the performance of the common shares of Eli Lilly and Company (NYSE: LLY).

What is the expense ratio of ELIS?

Direxion Daily LLY Bear 1X ETF (ELIS) charges an expense ratio of 1.99%. This is the annual fee deducted from fund assets to cover management and operations.

Is ELIS a good long-term hold?

ELIS is a inverse fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does ELIS's daily reset work?

ELIS rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is ELIS?

Direxion Daily LLY Bear 1X ETF (ELIS) manages $3.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is ELIS actively managed or an index fund?

ELIS's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.