UTLZ Direxion Daily Utilities Bear 1X Shares (delisted)

NEW YORK, Jan. 5, 2017 /PRNewswire/ -- Direxion announced today it has added two inverse ETFs to its expanding lineup. The Direxion Daily Consumer Staples Bear 1X Shares (Ticker: SPLZ) seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the performance of the Consumer Staples Select Sector Index. The Direxion Daily Utilities Bear 1X Shares (Ticker: UTLZ) seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the Utilities Select Sector Index.

"The Federal Reserve recently raised interest rates and signaled up to three more increases in 2017 due to a strengthening economy, increasing inflation and a multi-year low unemployment rate. Against that backdrop, investors are concerned a rising-rate environment may have a negative impact on their portfolios," said Paul Brigandi, Managing Director at Direxion. "The launch of SPLZ and UTLZ is timely, as they both provide inverse exposure to two sectors having historically high sensitivity to rising rates."  

Like all inverse ETFs, these Direxion products are intended only for investors with an in-depth understanding of the risks associated with seeking inverse investment results, and who plan to actively monitor and manage their positions. There is no guarantee that these Funds will meet their objectives.

About Direxion:

Direxion builds bold products for investors who want more than the status quo. Our index-based products deliver directional options, magnified exposure, and long-term, rules-based strategies. Founded in 1997, the company has approximately $11.2 billion in assets under management as of December 31, 2016. Direxion's diverse suite of products helps investors navigate today's ever-changing markets. For more information, please visit www.direxioninvestments.com.

###

There is no guarantee that the Funds will achieve their objectives.

For more information on all Direxion Shares daily leveraged ETFs, go to direxioninvestments.com, or call us at 866.476.7523.

The ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily leveraged and inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.

An investor should consider the investment objectives, risks, charges, and expenses of Direxion ETFs carefully before investing. The prospectus and summary prospectus contains this and other information about Direxion ETFs. Download a prospectus and summary prospectus at direxioninvestments.com. The prospectus and summary prospectus should be read carefully before investing.

* Rafferty Asset Management, LLC ("Rafferty" or the "Adviser") has entered into an Operating Expense Limitation Agreement with the Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to cap all or a portion of its management fee and/or reimburse the Fund for Other Expenses through September 1, 2017, to the extent that the Fund's Total Annual Fund Operating Expenses exceed 0.45% of the Fund's daily net assets (excluding, as applicable, among other expenses, management fees, Rule 12b-1 distribution and/or service fees, Management Services Fees, any front-end or contingent deferred sales loads, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions, expenses incurred in connection with any merger or reorganization and extraordinary expenses such as litigation or other expenses outside the typical day-to-day operations of the Fund).

Risks:

The utilities sector is subject to significant government regulation and oversight. Companies in the utilities sector may be adversely affected due to increases in fuel and operating costs, rising costs of financing capital construction and the cost of complying with U.S. federal and state regulations, among other factors. 

The consumer staples sector may be affected by the permissibility of using various food additives and production methods, changing consumer tastes, marketing campaigns and other factors affecting consumer demand. In particular, tobacco companies may be adversely affected by new laws, regulations and litigation.

An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration risk that results from the Funds' investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts, forward contracts, options and swaps are subject to market risks that may cause their price to fluctuate over time. The Funds do not attempt to, and should not be expected to, provide returns which are a multiple of the return of the Index for periods other than a single day. For other risks including correlation, compounding, market volatility and specific risks regarding each sector, please read the prospectus.

Distributor: Foreside Fund Services, LLC.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/direxion-launches-two-etfs-to-expand-inverse-lineup-300386202.html

SOURCE Direxion