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Direxion has launched the Direxion Daily Select Large Caps & FANGs Bull 2X Shares ETF, trading under the symbol FNGG. The fund aims to provide 200% of the daily performance of the ICE FANG 20 Index, which includes major tech stocks like Facebook, Apple, and Amazon. As of September 10, 2021, the index contained companies with a median market cap of $155 billion. The ETF has a gross expense ratio of 1.09% and a net expense ratio of 1.07%.
The fund is targeted at investors who are familiar with the risks of leveraged ETFs.
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