Direxion Daily Latin America Bull 2X Shares
LBJ
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- Direxion Daily Latin America Bull 2X Shares (LBJ) is a leveraged exchange-traded fund issued by Direxion Shares ETF Trust that seeks daily investment results, before fees and expenses, equal to 200% of the performance of the S&P Latin America 40 Index for a single trading day. The fund provides leveraged exposure to large-cap equities across diversified sectors in key Latin American markets including Brazil, Mexico, Chile, Peru, and Colombia; top holdings historically feature companies such as Vale SA, Itau Unibanco Holding SA, Petroleo Brasileiro SA, America Movil SAB de CV, and Banco Bradesco SA. It utilizes derivatives including swaps and futures, as well as direct investments and other funds, to achieve its leveraged objective, targeting growth and value stocks while remaining fully invested consistent with its strategy; the fund is designed for short-term tactical trading and is not suitable for long-term holding due to daily compounding effects. Founded on December 3, 2009, and headquartered in the United States with management by Rafferty Asset Management, LLC, the ETF operates primarily in U.S. markets but tracks issuers domiciled in Latin American countries representing approximately 70% of the region's total market capitalization. It serves sophisticated investors seeking amplified short-term exposure to Latin American equity markets amid volatility in emerging regions. In a significant operational change, the Board of Trustees of Direxion Shares ETF Trust approved the liquidation and closure of the fund due to insufficient investor assets, with trading ceasing on January 14, 2022, and final distributions to shareholders completed on or about January 21, 2022; the decision followed recommendations from adviser Rafferty Asset Management, LLC, marking the ETF's termination after over 12 years of operation. No subsequent relaunches, reverse splits, or strategic expansions specific to LBJ have been reported, aligning with Direxion's pattern of periodically closing underperforming leveraged products.