On June 15, Direxion expanded its leveraged single-stock ETF lineup with the introduction of the Direxion Daily SpaceX Bull 2X ETF (LOFF). The fund has an expense ratio of 97 basis points. It aims to generate daily investment results double the performance of SpaceX (SPCX). LOFF debuted just one business day after the company’s IPO last Friday. It extends Direxion’s position as the largest single-stock ETF issuer in the U.S.
“Direxion has been managing leveraged ETFs and mutual funds for decades, and this wealth of experience and best-in-class risk management has allowed for our team to move as quickly as we have,” said Mo Sparks, Direxion’s Chief Product Officer. “Our goal is to provide traders the tactical tools they need, and as the SpaceX IPO has captured the market’s full attention, it is an important part of our offering to provide a leveraged solution as quickly as we felt reasonably possible.”
“As the global leader in single stock ETFs, we have portfolio managers who have navigated volatility throughout their careers. This, combined with our risk management processes, enables our team to launch into what likely will be a volatile market. Volatility comes with the territory at Direxion. It’s one of the leaders of the leveraged and inverse ETF market,” Sparks added.
The Business Behind the Bet
SpaceX develops and launches advanced rockets and spacecraft. However, the company’s primary driver of revenue historically has come from its Starlink satellites. These satellites accounted for $11.4 billion of revenue in 2025. Despite the AI business recording a net loss prior to IPO, the company is expected to transform its xAI and its AI assistant, Grok, into a paramount $1.75 trillion driver of business. The company already exhibits opulent spending. Analysis from Neuberger expects its capital expenditures to reach $300 billion by 2030.
The fund caters to short-term investors with a high risk tolerance. Distinct from broadly diversified ETFs, LOFF tracks the price of a single stock rather than an index. This eliminates the diversification benefits seen in other products.
“Direxion is the largest leveraged single stock ETF issuer in the world and has been managing these strategies as long as they have been permitted in the US,” Sparks noted. “This scale and experience should give traders the comfort they need to feel confident that LOFF will provide the exposure they are looking to trade as soon as it comes to market.”
LOFF joins a rapidly expanding portfolio of single-stock leveraged ETFs, building on the firm’s momentum from Q1 2026 releases such as ADBU, PYPU, TXNU, and UNHU. Direxion continues to cement its role providing investment vehicles to traders seeking tactical, specialized exposure in an evolving market.
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