Direxion is launching six new Direxion Shares Daily ETFs, making the leveraged ETF trading instruments now at 34 ETFs. These will seek 200% of the daily performance or 200% of the inverse of the daily performance of the BNY Mellon BRIC Select ADR Index and the Indus India Index. There is also a 300% bull and bear fund that tracks the PHLX Semiconductor Sector Index.
The six new Direxion ETFs are as follows:
Leveraged Bull Funds
Direxion Daily BRIC Bull 2X Shares (BRIL) tracks BNY Mellon BRIC Select ADR Index 200%
Direxion Daily India Bull 2x Shares (INDL) tracks the Indus India Index 200%
Direxion Daily Semiconductor Bull 3x Shares (SOXL) tracks the PHLX Semiconductor Sector Index 300%
Leveraged Bear Funds
Direxion Daily BRIC Bear 2x Shares (BRIS) tracks the inverse of the BNY Mellon BRIC Select ADR Index by -200%
Direxion Daily India Bear 2x Shares (INDZ) tracks the inverse of the Indus India Index by -200%
Direxion Daily Semiconductor Bear 3x Shares (SOXS) tracks the inverse of the PHLX Semiconductor Sector Index by -300%
The new BRIC (Brazil, Russia, India, China) and India funds are the first 2x daily leveraged ETFs that Direxion has launched.
As a reminder, all leveraged ETF products have tended to have greater tracking errors and/or tracking risk compared to normal mutual funds and other ETF instruments. We have even seen reverse stock splits announced in these leveraged ETFs.
JON C. OGG
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