The new ETFs will be leveraged Bull and Bear funds that seek 200% of the daily performance, or 200% of the inverse of the daily performance (before fees and expenses), of the BNY Mellon BRIC (Brazil, Russia, India, China) Select ADR Index and the Indus India Index.
In addition, the new ETFs include leveraged Bull and Bear funds that seek 300% of the daily performance, or 300% of the inverse of the daily performance (before fees and expenses), of the PHLX Semiconductor Sector Index. The new BRIC and India funds are the first 2x daily leveraged ETFs that Direxion has launched.
The BNY Mellon BRIC Select ADR Index comprises a select group of American depositary receipts from Brazil, Russia, India and China. The Indus India Index is designed to represent the Indian equity markets as a whole. Its universe of components includes the 200 largest companies listed on the National Stock Exchange and the largest 200 companies listed on the Bombay Stock Exchange. The PHLX Semiconductor Sector Index tracks the performance of US semiconductor makers and equipment manufacturers.
Dan O’Neill, president of Direxion Shares, said: “Direxion strives to provide innovative investment solutions that enable investors to employ tactical portfolio strategies amid changing market conditions. We have provided the investment community with many industry ‘firsts.’ With this launch, we are pleased to offer the first 2x leveraged BRIC and India ETFs. The BRIC economies represent some of the fastest-growing in the world, and we are pleased to provide a vehicle for trading in these markets.
“Our new Semiconductor 3x ETFs reflect Direxion’s ongoing dedication to delivering specialized investment products and tools across a spectrum of industries.”
