Direxion Daily LMT Bear 1X ETF(NASDAQ:LMTS)

LMTS provides -1X daily inverse (short) exposure to Lockheed Martin Corporation (LMT), primarily using swaps and options. The fund aims for -100% daily return of LMT by rebalancing its portfolio every trading day. As such, it is concentrated in the industrials sector and aerospace & defense industry. Due to daily rebalancing, high portfolio turnover is expected. For liquidity, the fund may also hold short-term, high-quality debt or cash equivalents. This inverse exposure is reset dailyreturns over periods longer than a day will differ from LMTs total return due to compounding effects, volatility, and rebalancing, possibly leading to losses even if LMT declines over longer periods.