Direxion Launches LOFD, Completing Its Bull & Bear Lineup Across Tesla & SpaceX

-2X Daily Inverse Exposure to SpaceX, the Largest IPO in History

NEW YORK, Aug. 6, 2026 /PRNewswire/ -- Direxion, a leading provider of ETFs for tactical traders, today announced the launch of the Direxion Daily SpaceX Bear 2X ETF (LOFD). LOFD seeks daily investment results, before fees and expenses, of 200% of the inverse (or -200%) of the daily performance of SpaceX (Nasdaq: SPCX) ("SpaceX").

With LOFD, Direxion now offers a full bull and bear lineup across both Elon Musk's publicly traded companies, pairing LOFF and LOFD on SpaceX with the TSLL and TSLS on Tesla. Direxion leads the market in leveraged and inverse exposure to both companies, anchored by TSLL, the largest Tesla single-stock ETF on the market. LOFD lists as SpaceX enters a period of heightened attention: the company reported its first quarterly results as a public company on August 4, and the initial expiration of its post-IPO lock-up begins August 6, the same day LOFD debuts. Events like these can drive sharp single-day moves in either direction, the kind of tactical opportunity Direxion's leveraged and inverse toolkit is built to address.

"A complete toolkit enables traders to act on conviction in either direction," said Mo Sparks, Chief Product Officer at Direxion. "LOFF gave them a way to express the bull case on SpaceX. LOFD adds the bear side, and a way to hedge, arriving as the stock heads into a stretch of closely watched catalysts. Across Tesla and SpaceX, Direxion offers a complete bull and bear single-stock lineup and, by assets, is the largest provider of that exposure."

About Direxion:

Direxion equips investors driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions serve a broad spectrum of investors, whether executing short-term tactical trades or building longer-term portfolio allocations. Direxion's reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $85.4 billion in assets under management as of June 30, 2026. For more information, please visit www.direxion.com.   

There is no guarantee that the Fund will achieve its investment objective.

For more information on all Direxion Shares ETFs, go to www.direxion.com, or call us at 866.301.9214.

An investor should carefully consider a Fund's investment objective, risks, charges, and expenses before investing. A Fund's prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a prospectus and summary prospectus call 866.476.7523 or visit our website at direxion.com. A Fund's prospectus and summary prospectus should be read carefully before investing.

Investing in the fund involves a high degree of risk. SPCX recently commenced its initial public offering and may experience heightened volatility. Unlike traditional ETFs, or even other leveraged and/or inverse ETFs, these leveraged and/or inverse single-stock ETFs track the price of a single stock rather than an index, eliminating the benefits of diversification. Leveraged and inverse ETFs pursue daily leveraged investment objectives, which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying stock's performance over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. The Funds will lose money if the underlying stock's performance is flat, and it is possible that the Bull Fund will lose money even if the underlying stock's performance increases, and the Bear Fund will lose money even if the underlying stock's performance decreases, over a period longer than a single day. Investing in the Funds is not equivalent to investing directly in SPCX.

Communication Services Sector Risk – The communication services sector may be dominated by a small number of companies which may lead to additional volatility in the sector. Communication services companies are particularly vulnerable to the potential obsolescence of products and services due to technological advances and the innovation of competitors.

Space and Space Exploration Industry Risk – The space and space exploration industry encompasses the building and integration of items to go into space, including spacecraft, satellites, payloads and products to be used in space or which are related to space. The space industry has seen dramatic increase in investment over a short period of time.

SpaceX Investing Risk – Investing in SpaceX involves a high degree of risk. SpaceX operates in a rapidly changing and highly competitive industry. Returns depend in part on SpaceX's ability to successfully design, manufacture, launch, and operate space launch vehicles, spacecraft, and satellite systems while controlling costs and achieving operational reliability. SpaceX faces significant operational and execution risks, and launch failures, delays, or mission anomalies could result in loss of payloads, contractual penalties, or reputational harm. SpaceX is subject to extensive government regulation, export controls, and national security requirements, and a significant portion of its revenue is derived from government contracts that may be delayed, reduced, or terminated. SpaceX may not be able to successfully scale or monetize satellite-based services. SpaceX also develops and deploys artificial intelligence technologies, and its performance depends in part on its ability to successfully integrate, scale, and commercialize such technologies

Direxion Shares Risks – An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with a Fund concentrating its investments in a particular security, industry, sector, or geographic region which can result in increased volatility. The Fund's investments in derivatives such as futures contracts and swaps may pose risks in addition to, and greater than, those associated with directly investing in securities or other investments, including imperfect correlations with underlying investments or the Fund's other portfolio holdings, higher price volatility and lack of availability. As a result, the value of an investment in the Fund may change quickly and without warning. Risks of the Fund include Recent Initial Public Offering and Derivatives Capacity Constraints Risk, Effects of Compounding and Market Volatility Risk, Derivatives Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Leverage Risk, SpaceX Investing Risk, Market Risk, Concentration Risk, Cash Transaction Risk, Non-Affiliation Risk,  and risks specific to the communication services sector, which includes exposure to space and space exploration as well as exposure to artificial intelligence.  Additional risks include, for the Direxion Daily SpaceX Bull 2X ETF, Daily Correlation Risk, and for the Direxion Daily SpaceX Bear 2X ETF, Shorting or Inverse Risk as well as Daily Inverse Correlation Risk. Please see the summary and full prospectuses for a more complete description of these and other risks of the Funds.

Distributor: ALPS Distributors, Inc.

SOURCE Direxion