(TNA) Direxion Daily Small Cap - NYSE

The Direxion Daily Small Cap Bull 3X Shares (TNA) is a leveraged exchange-traded fund designed to provide 300% of the daily price performance of the Russell 2000 Index. To achieve this triple exposure, the fund invests at least 80% of its assets in a combination of swap agreements, index securities, and other ETFs. Small-cap stocks typically represent companies with market capitalizations between $300 million and $2 billion, often exhibiting higher volatility and growth potential than large-cap counterparts.

Because the fund resets its leverage on a daily basis, compounding effects can cause long-term returns to deviate significantly from the underlying indexs performance. This structure makes TNA a tactical tool for short-term trading rather than a buy-and-hold investment. For a deeper look into how these leverage dynamics affect long-term valuation, consider reviewing the detailed metrics on ValueRay. The Russell 2000 Index, which TNA tracks, serves as a primary benchmark for the U.S. small-economy segment and includes approximately 2,000 of the smallest securities from the broader Russell 3000 Index.