##  [# Direxion 2x ETF Targets FANG Stocks](/sections/daily-etf-watch/direxion-2x-etf-targets-fang-stocks) 

 

# Direxion 2x ETF Targets FANG Stocks

 

 

The new fund offers leveraged FANG exposure in an ETF wrapper for the first time.



 

 

 

 

 [![HeatherBell_green_bg](/sites/default/files/styles/author_image_icon/public/2023-03/heather2.png?itok=5J9vBlda)](/contributors/heather-bell) 

[By Heather Bell](/contributors/heather-bell)

 Sep 30, 2021

 Edited by: Heather Bell

 

 

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Today, Direxion rolled out the first ETF to offer leveraged exposure to FANG stocks. The [**Direxion Daily Select Large Caps &amp; FANGs Bull 2X Shares (FNGG)**](https://www.sec.gov/Archives/edgar/data/0001424958/000119312521286938/d207818d497k.htm) is notable because REX MicroSectors has been the main provider of leveraged and inverse access to that space via the exchange-traded note (ETN) wrapper.

FNGG comes with an expense ratio of 1.07% and lists on the NYSE Arca.

The new fund offers 200% exposure to the ICE FANG 20 Index, which includes securities such as Facebook, Apple, Amazon, Netflix, Google and Microsoft, as well as companies with similar characteristics.

***(Use our*** [***stock finder tool***](https://www.etf.com/etfanalytics/etf-stock-finder) ***to find an ETF’s allocation to a certain stock.)***

"FNGG allows traders to take a bold position in a basket of 20 well-known, highly traded growth stocks across the technology, media &amp; communications and consumer discretionary sectors,” said Direxion Head of Product David Mazza in a press release.

Top components in the index are a bit surprising given that they do not include any of the best-known FANG stocks. The top three holdings in the index at the time of the fund’s launch were Sea (5.86%), Palantir Technologies (5.8%) and NVIDIA (5.49%). Netflix claimed the No. 5 spot in the index, while Google parent Alphabet ranked eighth.

There are eight MicroSectors ETNs tracking the FANG-related space that provide up to 300%/-300% leveraged and inverse exposure, as well unleveraged long exposure. The largest of these is the $1.9 billion [**MicroSectors FANG+ Index 3X Leveraged ETN (FNGU)**](https://www.etf.com/fngu). FNGU also happens to be the second-largest ETN currently trading in the U.S.

*Contact Heather Bell at* [*heather.bell@etf.com*](mailto:heather.bell@etf.com)



 

 

 [ Heather Bell ](/contributors/heather-bell) 

 

 

  Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a…   [View Bio](/contributors/heather-bell)

 



 

 


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