8. Direxion Daily Basic Materials Bear 3x (MATS) 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 short position by investing at least 80 percent of its net assets in futures contracts and other financial instruments that provide leveraged and unleveraged exposure to the index. The 'S' in MATS stands for the 'short' position triple leveraged to the potential fall in companies like Monsanto (MON), Newmont Mining (NEM), and Alcoa (AA).
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