Direxion announced the addition of five leveraged and inverse exchange-traded funds to their existing lineup. Four of the five new funds track S&P Select Sector Indexes and seek 300 percent of the daily performance or 300 percent of the daily inverse performance of their corresponding index.
“We understand that market direction matters, so we strive to offer an alternative to static investment strategies while delivering exposure to the various markets in which investors have high levels of interest, such as basic materials and healthcare,” says Direxion President Dan O’Neill.
The new funds, along with their corresponding tickers are:
- Direxion Daily Basic Materials Bull 3x Shares (MATL)
- Direxion Daily Basic Materials Bear 3x Shares (MATS)
- Direxion Daily Healthcare Bull 3x Shares (CURE)
- Direxion Daily Healthcare Bear 3x Shares (SICK)
- Direxion Daily Total Market Bear 1x Shares (TOTS)
MATL aims for triple the daily performance of the S&P Materials Select Sector Index. The index includes companies from within the S&P 500 that are involved in the industries of metals and mining, paper and forest products, containers and packaging, construction materials and chemicals.
MATS aims for triple the inverse of the daily performance of the same Index. The annual expense ratio for both funds is 0.95 percent.
CURE aims for triple the daily performance of the S&P Healthcare Select Sector Index. The index includes companies from within the S&P 500 that are involved in the industries of pharmaceuticals; health care providers and services; health care equipment and supplies; biotechnology; life sciences tools and services; and health care technology.