In what seems to be a race among providers to introduce exchange-traded funds, Boston-based Direxion announced today that it has launched six new leveraged ETFs.
The Boston-based ETF provider that has concentrated on alternative and tactically-oriented investment strategies said the six Direxion Share Daily ETFs bring its total of number of leveraged ETFs to 34.
Four of the new ETFs are 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 Select ADR Index or the Indus India Index. The other two 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 (Brazil, Russia, India, China) and India funds are the first 2x daily leveraged ETFs that Direxion has launched.
The six new funds are Direxion Daily BRIC Bull (BRIL), Direxion Daily India Bull (INDL), Direxion Daily Semiconductor (SOXL), Direxion Daily BRIC Bear (BRIS), Direxion Daily India Bear (INDZ) and Direxion Daily Semiconductor (SOXS).