Direxion MSCI USA ESG - Leaders vs. Laggards ETF (ESNG) Research

This investment vehicle's primary objective is to mirror the performance of the MSCI USA ESG Universal Top - Bottom 150/50 Return Spread Index, prior to accounting for fees and expenses. Ordinarily, at least 80% of the fund's net assets, including any capital acquired through borrowing for investment purposes, will be allocated to the securities comprising the Long Component. The underlying index itself consists of a portfolio that holds a 150% long position in the MSCI USA ESG Universal Top 100 5% Issuer Capped Index (known as the "Long Component"), alongside a 50% short (or inverse) position in the MSCI USA ESG Universal Bottom 100 5% Issuer Capped Index (referred to as the "Short Component"). This fund is characterized by its non-diversified investment approach.

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