The underlying index is also the same index tracked by the more popular PowerShares Dynamic Pharmaceuticals Portfolio (NYSEArca: PJP), except PJP provides traditional long-only exposure to its basket of pharma securities.

Potential traders should keep in the mind the risks of incorporating an aggressive position like PILL.

“Like all leveraged ETFs, this Direxion product is intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee that this Fund will meet its objective,” according to Direxion.

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