Direxion Daily MSCI South Korea Bull 3X ETF
KORU
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1301 Avenue of the Americas, 28th Floor New York NY United States of America 10019
- IPO Date
- Apr 10, 2013
- CIK
- 0001424958
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Daily MSCI South Korea Bull 3X Shares (KORU) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 300% of the performance of the MSCI Korea 25/50 Index, which measures the large- and mid-cap segments of the South Korean equity market covering approximately 85% of the free float-adjusted market capitalization of South Korean issuers. The fund invests directly in stocks, derivatives such as futures and swaps, and other funds targeting growth and value stocks across diversified sectors including information technology, industrials, and financials; top holdings include Samsung Electronics, SK Hynix, and KB Financial Group. Launched on April 10, 2013, by Direxion Shares ETF Trust and managed by Rafferty Asset Management, LLC, KORU trades on the NYSE Arca and is domiciled in the United States with assets under management of approximately $135 million. KORU targets sophisticated investors seeking leveraged short-term exposure to South Korean equities, emphasizing daily 3X bull performance rather than long-term index tracking due to compounding effects and volatility; it employs leverage through derivatives to amplify returns while carrying risks such as market volatility, counterparty exposure, rebalancing, and South Korea-specific emerging market factors. The fund distributes quarterly income dividends, with recent payouts including $0.09143 per share on July 1, 2025, and maintains a net expense ratio of 0.95% through September 1, 2026, excluding certain costs like acquired fund fees. In January 2025, Direxion announced and executed a 1-for-10 reverse stock split effective after market close on February 7, 2025, reducing outstanding shares by approximately 90%, adjusting the CUSIP from 25459Y520 to 25461A387, and increasing per-share NAV and market price by tenfold starting February 10, 2025, without altering total shareholder value except for fractional share redemptions at split-adjusted NAV. This operational change aimed to enhance share price attractiveness amid Direxion's ongoing portfolio management, including recent launches of single-stock leveraged ETFs and closures of underperforming funds like WFH and others in 2025.