WANT +3x Direxion Daily Consumer Discretionary Bull 3X ETF

WANT

ETF +3x BULL extreme
Direxion Daily Consumer Discretionary Bull 3X ETF
Issuer: Direxion · Tracks: Consumer Discretionary (XLY) · Listed: 2018-11-29
Implied AUM
$15.9M
Last Close
$39.87
20260720
30d Avg Vol
24,615
Options
available
Realized return vs theoretical +3x Consumer Discretionary
Other leveraged products tracking Consumer Discretionary
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
UCC +2x BULL ProShares ProShares Ultra Consumer Discretionary $10.3M 2,677
SCC -2x BEAR ProShares ProShares UltraShort Consumer Discretionary $7.1M 14,988

How WANT works

WANT targets +3x the daily return of Consumer Discretionary — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +3x product on an underlying with 25% annualized vol, expected annual drag is around 18.8%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on WANT carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.