$55B Built on Tools for Traders | Mo Sparks, Direxion

Mo is the Chief Product Officer at Direxion — and the person who first told Brad to start a podcast instead of a Netflix series. Years later, he's the guest. With a career that ran from Vanguard to the New York Stock Exchange to Raymond James before landing at Direxion, Mo brings a rare cross-sectional view of the ETF industry that few in the space can match.In this episode, Mo breaks down how Direxion — now managing roughly $55 billion across 130+ ETFs — builds tools for active traders to express short-term views with leverage. We get into how the daily reset mechanism works and why holding these products beyond a single day changes the math, how the firm decides which single stock names deserve a leveraged wrapper (and whether to offer bull, bear, or both), and why most trader assets still flow overwhelmingly to the bull side. Mo also walks through the new Titan series concentrated basket concept, the right and wrong ways advisors are using these products in client portfolios, and where the category goes from here — including what the team has publicly filed and what they're watching in the tokenization space.It's a candid conversation about a corner of the ETF market that is widely misunderstood and underappreciated as a legitimate portfolio tool.