9. Direxion Daily Basic Materials Bull 3x (MATL) began trading on Jun. 15, 2011.
The fund seeks daily investment result of 300 percent of the price performance of the Material Select Sector Index. The fund create long position by investing at least 80 percent of its net assets in equity securities that comprise the Index and financial instrument that provided leveraged and unleveraged exposure to the index. The 'L' in MATL stands for the 'long' position triple leveraged to the potential rise in companies like Freeport-McMoRan Copper & Gold (FCX - Get Report), Du Pont (DD - Get Report), and Dow Chemical (DOW - Get Report).