Betting against Russian stocks this year was a bad idea, so tripling down was even worse. Direxion Daily Russia Bear 3x Shares -- an exchange-traded fund which makes leveraged investments against Russian equities that essentially triple the wager -- fell 61 percent through Friday in the third-worst performance among almost 1,000 U.S.-domiciled funds. Among the top performers as recently as January, the $53 million fund now trades near a record low as Brent crude’s slump and rebound whipsawed investors in the world’s largest energy producer.

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