Direxion Launches New Daily 2X Leveraged ETFs
On June 10, 2021, Direxion launched two leveraged ETFs: the Direxion Daily Travel & Vacation Bull 2X Shares (OOTO) and the Direxion Daily 5G Communications Bull 2X Shares (TENG). These funds aim to achieve 200% of the daily performance of their respective indices: the BlueStar Travel and Vacation Index and the BlueStar 5G Communications Index. Both funds have a gross expense ratio of 1.09% and a net expense ratio of 1.07%. The offering aligns with the economic recovery trends, particularly in travel and 5G technology adoption.
- Launch of two new leveraged ETFs focusing on travel and 5G sectors.
- Funds aimed at capitalizing on the economic recovery post-COVID.
- Potential for significant returns with 200% daily performance target.
- High expense ratios may affect overall returns.
- Targeting daily performance presents inherent investment risks.
NEW YORK, June 10, 2021 /PRNewswire/ -- Direxion launched the Direxion Daily Travel & Vacation Bull 2X Shares (Ticker: OOTO) and Direxion Daily 5G Communications Bull 2X Shares (Ticker: TENG). The Funds seek to achieve
The BlueStar® Travel and Vacation Index provides exposure to global commercial airlines, hotels and resorts, resort casinos, travel agencies and online travel booking sites, hotel REITs, cruise lines, theme parks, and ski resorts.
The BlueStar® 5G Communications Index provides exposure to companies whose products and services are economically tied to the market's adoption of 5G networking and communication technologies.
Fund | Symbol | CUSIP | Benchmark | Gross Ratio | Net |
Direxion Daily Travel & Vacation Bull 2X Shares | OOTO | 25460G542 | BlueStar® Travel and Vacation Index | ||
Direxion Daily 5G Communications Bull 2X Shares | TENG | 25460G559 | BlueStar® 5G Communications Index |
* The Advisor has contractually agreed to waive a portion or all of its management fee and/or reimburse the Fund for other expenses through Septebmer 1, 2022.
"2021 continues to offer opportunities for traders to take advantage of emerging trends, including the economic reopening boosting demand for travel and vacation, along with the growth of 5G networks," said Dave Mazza, Managing Director at Direxion. "These Leveraged ETFs allow traders to take a bold position in two early-stage themes."
Like all leveraged ETFs, these Direxion products are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee that these Funds will meet their objective.
About Direxion:
Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion's reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately
There is no guarantee that the Funds will achieve their investment objectives.
For more information on all Direxion Shares daily leveraged ETFs, go to direxion.com, or call us at 866.301.9214.
Leveraged ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily leveraged and inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.
An investor should carefully consider a Fund's investment objective, risks, charges, and expenses before investing. A Fund's prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a Fund's prospectus and summary prospectus call 866-716-0735 or visit our website at direxion.com. A Fund's prospectus and summary prospectus should be read carefully before investing.
Direxion Shares Risks - An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration that results from an ETF's investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. The ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index for periods other than a single day. For other risks including leverage, correlation, daily compounding, market volatility and risks specific to an industry or sector, please read the prospectus.
Distributor: Foreside Fund Services, LLC.
CONTACT: | James Doyle |
JConnelly | |
973.850.7308 | |
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SOURCE Direxion
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