Direxion Daily Silver Bull 2X ETF

Frequently Asked Questions About USLV

What does USLV invest in?

VelocityShares 3x Long Silver ETN Linked to the S&P GSCI Silver Index ER. Delisted by Credit Suisse AG on July 2, 2020. No longer actively trading on exchanges and has no current business operations as a financial product.

What is the expense ratio of USLV?

Direxion Daily Silver Bull 2X ETF (USLV) charges an expense ratio of 1.12%. This is the annual fee deducted from fund assets to cover management and operations.

Is USLV a good long-term hold?

USLV 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 USLV's daily reset work?

USLV 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 USLV?

Direxion Daily Silver Bull 2X ETF (USLV) manages $14.9M 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 USLV actively managed or an index fund?

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