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Direxion changes investment objective and index of three leveraged ETFs

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Direxion Shares ETF Trust has approved changes to the investment objective, investment strategy and underlying index of the Direxion Daily MSCI Real Estate Bull 3X Shares (DRN), Direxion Daily MSCI Real Estate Bear 3X Shares (DRV), and Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL).

Effective 1 August, 2019, DRN and DRV will switch from the MSCI US REIT Index to the MSCI US IMI Real Estate 25/50 Index, while PILL will switch from the Dynamic Pharmaceutical Intellidex Index to the S&P Pharmaceuticals Select Industry Index.

The MSCI US IMI Real Estate 25/50 Index is designed to measure the performance of the large-, mid- and small-capitalisation segments of the US equity universe that are classified in the real estate sector as per the Global Industry Classification Standard (GICS). The Index is rebalanced quarterly.
Pharmaceutical Fund New Index Description

The S&P Pharmaceuticals Select Industry Index is a modified equal-weighted index that is designed to measure performance of the stocks comprising the S&P Total Market Index that are classified in the Global Industry Classification Standard (GICS) pharmaceuticals sub-industry.

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