JPNLDirexion Daily MSCI Japan Bull 3X Shares
JPNL Fund Description
JPNL seeks 3x the daily performance of the MSCI Japan Index, which covers 85% of the float-adjusted market cap of the Japanese equity market.
JPNL Factset Analytics Insight
JPNL provides 3x levered exposure to the MSCI Japan Index, which aims to capture the broad Japanese equities market. This is the long version of sister-fund JPNS, which provides 3x inverse exposure, and a competitor to EZJ, which provides 2x long exposure to the same index. Simple long exposure can be had through iShares’ EWJ. The fund achieves its exposure through the use of OTC derivatives, which carry counterparty risk. Like all levered funds, JPNL will underperform in volatile markets if held longer than its daily reset period, and is only suitable for short-term trading positions. Trading volume is modest and spreads can’t be called tight. JPNL’s small asset base is also a concern, and we see closure risk.
JPNL Charts And Performance
JPNL Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of JPNL. JPNL is rated a N/A out of 5.