Spread represents the difference between ASK price and BID price. CFD Rollover adjustment consists of the difference in price between expiring contract and new contract as well as the spread of the CFD. Swap is the overnight interest credited to or debited from an account where positions are held overnight. For further information, please refer to our Frequently Asked Questions page.
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About Faz and Faz Trading
The Direxion Daily Financial Bear 3X Shares (FAZ) is a leveraged inverse ETF designed to return three times the inverse performance of the Russell 1000 Financial Services Index ("Financial Index") on a day to day basis. However, it would help if you always kept in mind that there is no guarantee the funds will meet their stated investment objective. As a levered product, FAZ is perceived as a short-term tactical instrument. The fund rebalances daily. Over more extended periods, returns can vary significantly from 3x exposure to its underlying index.
The Russell 1000 Financial Services Index is a subdivision of the Russell 1000 Index that measures securities' performance from the financial services sector of the large-capitalization U.S. equity market. This includes companies from banking, mortgage, consumer finance, specialized finance, investment banking and brokerage, asset management and custody, corporate lending, insurance, financial investments, and real estate, and more.
What is a leveraged inverse ETF?
An inverse ETF is an exchange-traded fund (ETF) constructed by using various derivatives to take advantage of a fall in the value of an underlying benchmark. Investing in inverse ETFs works the same way as holding various short positions and involves borrowing securities and selling them, hoping for a later repurchase at a lower price.