Wow, 3X ETF's filed by Direxion with the SEC, courtesy of TREND1 on Les' SI thread
By Matthew Hougan
NEW FILINGS
Direxion Looks To Be A Triple Threat
Direxion Funds is looking to enter the ETF industry with a boom. The firm has filed with the SEC to create 36 new leveraged and inverse ETFs. Sounds like ProShares, right? Well, kind of, except the 18 “Bull” funds will attempt to capture THREE times the daily return of their underlying indexes, while the 18 “Bear” funds will attempt to capture THREE times the inverse of the daily return of their underlying indexes. By contrast, the popular ProShares ETFs aim to deliver just 2X the performance.
The filing covers Bull and Bear ETFs for each of the following indexes: the MSCI Broad Market Index, S&P 500, Nasdaq-100, Dow Jones Industrial Average, S&P MidCap 400 Index, Russell 2000 Index, Nikkei 225 Index, MSCI EAFE, MSCI Emerging Markets Index, S&P BRIC 40 Index, FTSE/Xinhua China 25 Index, Indus India Index (which underlies the new PowerShares India Portfolio), S&P Latin America Index, MSCI Commodity-Related Equity Index (which covers stocks in commodity-related industries, Energy Select Sector Index, Financial Select Sector Index, Dow Jones U.S. Real Estate Index, and S&P U.S. Homebuilding Select Industry Index.
