The Direxion DIREXION DAILY SEMICONDUCTOR BULL 3X SHARES (SOXL) is an exchange-traded fund (ETF) that seeks daily investment results, before fees and expenses, of 300% of the daily performance of the its benchmark index. The fund is managed by Direxion and was launched in an undisclosed date.

The fund tracks a benchmark index that defines the universe of eligible securities according to its published methodology.

SOXL is a leveraged ETF, which means that it uses derivatives to magnify its exposure to the underlying index. This can lead to significantly higher returns, but also to significantly higher risk.