About Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares (DRIP)

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares (DRIP) is an exchange-traded fund (ETF) that seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the S&P Oil & Gas Exploration & Production Select Industry Index. The ETF provides investors with an opportunity to gain exposure to the energy sector, specifically oil and gas exploration and production companies, in a bearish manner. DRIP aims to benefit from the inverse performance of the index, increasing in value when the index and its constituent companies decline in price.

As a 3x leveraged inverse ETF, DRIP is designed to multiply the daily inverse return of its underlying index. This means that if the index declines by 1% in a day, DRIP should increase by 3% (before fees and expenses). However, it's important to note that due to compounding, the ETF's performance over longer periods can deviate significantly from the triple inverse return of the index. Therefore, DRIP is typically utilized as a short-term trading instrument rather than a long-term investment vehicle.