The Direxion DIREXION DAILY S&P 500(R) BULL 3X SHARES (SPXL) is an exchange-traded fund (ETF) that tracks the performance of the S&P 500 Index. The fund is managed by Direxion and was launched in 2008.

The S&P 500 Index is a market-capitalisation-weighted index that measures the performance of the 500 largest publicly traded companies in the United States. It is the most widely followed benchmark for U.S. large-cap equities and serves as the basis for trillions of dollars in indexed assets.

SPXL is a passively managed index ETF that seeks to replicate the holdings and performance of its benchmark with low tracking error. It is suitable for investors seeking broad, low-cost market exposure.