Demand for

Direxion Funds'

new exchange traded funds is growing as investors look to triple the performance of stock indexes.

The Direxion triple-leveraged funds, which debuted in November, climbed TheStreet.com Ratings' ranking of the 20 most-traded ETFs in February, based on average daily dollar volume.

The

Direxion Financial Bear 3x Shares

(FAZ) - Get Report

fund was No. 15 in the

ETF ranking

, up from 29 in

January

. The company's

Financial Bull 3x Shares

(FAS) - Get Report

fund rose to 19th from 23rd, and its

Large Cap Bear 3X Shares

(BGZ)

fund leaped to 20th from 34th.

Eight of the 20 ETFs on the list below are leveraged, meaning they seek to multiply the performance of a given index, including five ProShares funds. Five are "inverse" funds that move

opposite the market

.

Three funds from January's list didn't make the February roster.

Oil Services HOLDRS

(OIH) - Get Report

tumbled to No. 22 from 19. The leveraged

ProShares Ultra QQQ

(QLD) - Get Report

retreated to 24th from 17th, and the

SPDR Mid Cap 400

(MDY) - Get Report

sank to 25th from 20th.

The

SPDR S&P 500 ETF

(SPY) - Get Report

held the top spot with ease with $27.1 billion in average daily turnover. The

PowerShares QQQ Trust

(QQQQ)

ranked second with $4.9 billion.

The SPDR fund's top holdings include

Exxon Mobil

(XOM) - Get Report

,

General Electric

(GE) - Get Report

,

AT&T

(T) - Get Report

and

Microsoft

(MSFT) - Get Report

.

Richard Widows is a senior financial analyst for TheStreet.com Ratings. Prior to joining TheStreet.com, Widows was senior product manager for quantitative analytics at Thomson Financial. After receiving an M.B.A. from Santa Clara University in California, his career included development of investment information systems at data firms, including the Lipper division of Reuters. His international experience includes assignments in the U.K. and East Asia.