Direxion Daily Financial Bull 3X Sh.. (FAS)

The Direxion Daily Financial Bull 3X Shares (NYSE ARCA:FAS) is an investment fund that aims to provide triple the daily performance of a specific financial index. To achieve this, the fund invests at least 80% of its assets in a mix of financial instruments, including swap agreements, securities, and ETFs that track the index.

The index itself focuses on companies from various financial industries, including banks, thrifts, mortgage finance, diversified financial services, consumer finance, capital markets, insurance, and mortgage real estate investment trusts (REITs). This means the fund is exposed to a broad range of financial sectors, giving investors a diversified portfolio within the financial sector.

It's worth noting that the fund is non-diversified, which means it can invest a larger portion of its assets in a smaller number of securities. This can increase the fund's potential returns, but also increases the risk.

The fund is managed by Direxion, a US-based investment management company. You can find more information about the fund and its investment strategy on the Direxion website.