Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares

Frequently Asked Questions About EVAV

What does EVAV invest in?

The Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the Indxx US Electric and Autonomous Vehicles Index. There is no guarantee that the fund will achieve its stated investment objective.

What is the expense ratio of EVAV?

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) charges an expense ratio of 1.83%. This is the annual fee deducted from fund assets to cover management and operations.

Is EVAV a good long-term hold?

EVAV is a leveraged 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 EVAV's daily reset work?

EVAV 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 EVAV?

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) manages $3.7M 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 EVAV actively managed or an index fund?

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