Why Direxion Korea Bull 3X (KORU) fell 29.06%
Direxion Korea Bull 3X (KORU) fell 29.06% on November 6, 2026 — Midterm sweep sparks AI selloff; Hynix leads.
What happened
KORU, a 3× daily-leveraged fund on Korean stocks, fell 29.1% as its underlying market dropped, with the iShares Korea ETF (EWY) down 8.2%.
Why it moved
The fund targets a fixed multiple of its index's daily move, so a roughly 8% drop in Korean equities amplified to about 3× in the fund.
Why it matters
Korean equities are a core expression of the Korea Tech theme, where the HBM and DRAM upcycle lifted Samsung and SK Hynix.
What would break the thesis
Leveraged funds reverse as sharply as they fall, so a rebound in SK Hynix and Samsung would flip this quickly. Holding through volatility carries real risk, since daily leverage compounds losses on choppy days.
Sources
- NASDAQ ERASES $2.5 TRILLION AS DEMOCRATIC SWEEP SPARKS AI SELLOFF — MarketFeed
- CHINA SEEKS DEEPER AND MORE CONSTRUCTIVE RELATIONS WITH NORTH KOREA, FOREIGN MINISTER WANG YI SAYS — MarketFeed
- SEOUL AND WASHINGTON ANALYSING INFORMATION ON NORTH KOREAN MISSILES, SOUTH KOREA'S DEFENCE MINISTRY SAYS. — MarketFeed