Direxion Daily South Korea Bull 3X Shares (KORU) perpetual market

KORU is the Direxion Daily South Korea Bull 3X Shares, a leveraged exchange-traded fund that seeks daily investment results equal to 300% of the daily performance of the MSCI Korea 25/50 Index, a market-capitalization-weighted benchmark of large and mid-sized South Korean companies. Managed by Direxion and launched in 2013, it uses swaps and other derivatives to amplify exposure to Korean equities, which are heavily weighted toward technology, semiconductors and export-driven manufacturing. The fund rebalances its leverage every day, so it is designed as a short-term trading vehicle: over periods longer than a single day, compounding causes its returns to diverge, sometimes sharply, from three times the index's cumulative move. This makes it far more volatile than an unleveraged Korea fund and unsuitable as a buy-and-hold position. It is used mainly by active traders seeking magnified, directional exposure to the South Korean market.