Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares(AMEX:EVAV)

EVAV provides daily 2x exposure to an index of companies in the autonomous electric vehicles industry. The fund will comprise those that derive at least 50% of their revenue from engagements in specified sub-themes, identified through a research-based approach, such as manufacturers, enablers, and software and technology developers. Besides liquidity and tradability requirements, eligible securities must be listed on a US exchange, and have a market-cap of at least 500 million USD. The largest 25 pure-play companies will comprise the index, with quasi-play firms completing the roster if few pure-plays qualify. Selected constituents will then be assigned a weighting in accordance with their 6-month average daily value traded, with individual capping at 8%. The index is rebalanced quarterly and reconstituted annually. As a leveraged product with 2x factor that resets daily, EVAV is not a buy-and-hold investment and should not be expected to provide index leverage return greater than a one day period.