Direxion Daily Russia Bull 2X Shares
RUSL
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ROIC.AI
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- Direxion Daily Russia Bull 2X Shares (RUSL) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 200% of the performance of the MVIS Russia Index, which tracks the overall performance of publicly traded companies domiciled and primarily listed on an exchange in Russia; the fund employs derivatives such as swaps and futures contracts, as well as direct investments and holdings in other funds like the VanEck Russia ETF (RSX), to achieve its leveraged exposure to Russian large-cap equities across diversified sectors including energy, materials, and financials. Launched on May 25, 2011, by Direxion Shares ETF Trust, with Rafferty Asset Management, LLC serving as investment adviser, the fund is headquartered in New York and primarily targets sophisticated investors seeking short-term tactical leveraged exposure to the Russian equity market. RUSL operates within the global leveraged equities ETF segment, with shares listed on the NYSE Arca. In a major operational change, the Board of Trustees of Direxion Shares ETF Trust announced on February 28, 2022, the decision to liquidate and close RUSL due to heightened market volatility and U.S. and international sanctions on Russian securities following Russia's invasion of Ukraine, which rendered ongoing operations economically unfeasible; trading ceased on March 11, 2022, with full liquidation completed by March 18, 2022, distributing cash pro rata to remaining shareholders. Prior to closure, the fund suspended share creations and transitioned its portfolio to cash, experiencing significant premiums or discounts to net asset value. Although limited trading activity and quotes have appeared on certain platforms post-2022 amid ongoing Russia-related sanctions, no relaunch, reorganization, or revival has occurred, and the fund remains terminated with zero institutional ownership reported.