New products introduced over the last week include two leveraged junior gold miners ETFs from Direxion and a China A-share ETF from Invesco PowerShares.
In addition, U.S. Bank Wealth Management announced its new Heritage IRA.
Here are the latest developments of interest to advisors:
1) Direxion Launches Leveraged and Inverse Junior Gold Miners ETFs
Direxion announced recently that it has launched two leveraged ETFs tracking the global equity performance of junior gold-mining companies. The Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) seeks to achieve daily investment results, before fees and expenses, of 300% of the performance of the Market Vectors Junior Gold Miners Index. The Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) seeks daily investment results, before fees and expenses, of 300% of the inverse of the performance of the Market Vectors Junior Gold Miners Index.
The index is a market-capitalization-weighted total return index. It covers the largest and most liquid small-cap companies that derive at least 50% of their revenue from gold or silver mining, or have properties that do so. The composite includes companies based in the U.S. and other markets, including Australia, Canada and Singapore. As of Sept. 15, the index had average and median market capitalizations of $362.46 million and $294.74 million, respectively. The ETFs do not attempt to meet their investment goals for periods longer than one day. There is no guarantee that their objectives will be met.
2) Invesco PowerShares Lists China A-Share ETF