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NEW LISTINGS

Direxion Launches Extreme ETFs In Extreme Market

With the markets going on a lot of impromptu roller coaster rides lately, there hasn’t been a lot going on with ETF launches or filings. But Direxion Funds has decided to brave the rocky environment with eight new leveraged and inverse exchange-traded funds.

But these ETFs don't just offer a bit more juice. They're the first ones to offer three times the leveraging power of their underlying benchmarks. The “Bull” ETFs are designed to capture 300% of the daily performance of the underlying index, while the “Bear” ETFs are supposed to capture three times the inverse, or -300%, of the underlying index’s daily performance.

Four of the funds launched on Wednesday, including the Direxion Large Cap Bull 3x Shares (NYSEArca: BGU), Direxion Large Cap Bear 3x Shares (NYSEArca: BGZ), Direxion Small Cap Bull 3x Shares (NYSEArca: TNA) and Direxion Small Cap Bear 3x Shares (NYSEArca: TZA). The large-cap funds are tied to the Russell 1000, while the small-cap funds are linked to the Russell 2000.

On Thursday, Direxion launched another set of four funds that cover the two-most-watched sectors in the U.S. market—Energy and Financials. The Direxion Financials Bull 3x Shares (NYSEArca: FAS) and Direxion Financials Bear 3x Shares (NYSEArca: FAZ) offer leveraged and inverse exposure to the Russell 1000 Financials Index. Meanwhile, the Direxion Energy Bull 3x Shares (NYSEArca: TZU) and Direxion Energy Bear 3x Shares (NYSEArca: TZA) are tied to the Russell 1000 Energy Index.

The new ETFs are listed with net expense ratios of 0.95% per year.

The firm originally filed in the spring, ending up with a total of more than 30 ETFs in registration, though it is unclear if all of them will launch.

Read the prospectus here.

NEW FILINGS

There were no new filings during the covered time period.

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