If you are thinking of taking a position in one of these ETFs, I would check to see who the largest counterparties are, then take a look at their charts.

I checked JNUG’s a couple of weeks ago and the largest counterparties were Credit Suisse and Deutsche Bank. Direxion Annual Report Oct 2015 (pg 102)

I emailed Direxion about this and they sent me some document, which just said “we can terminate our agreements on a daily basis”.

 

Didn’t fill me with a lot of confidence.