Daily ETF Watch: Direxion Plans 8 Bear Funds

A recent filing from Direxion outlines plans for eight inverse sector ETFs and an inverse frontier markets ETF. The funds will offer -100% exposure to their underlying indexes.

The nine sector ETFs will track the same Select Sector indexes underlying the original Select Sector SPDRs, which are the largest and most heavily traded sector funds listed on the U.S. stock markets. The inverse funds detailed in the filing are as follows:

• Direxion Daily Consumer Staples Bear 1X Shares
• Direxion Daily Consumer Discretionary Bear 1X Shares
• Direxion Daily Energy Bear 1X Shares
• Direxion Daily Financial Bear 1X Shares
• Direxion Daily Industrials Bear 1X Shares
• Direxion Daily Materials Bear 1X Shares
• Direxion Daily Technology Bear 1X Shares
• Direxion Daily Utilities Bear 1X Shares

The health care sector is missing from the list, because Direxion has filed paperwork on the Direxion Daily Healthcare Bear 1X Shares previously. All of the funds will come with an expense ratio of 0.45%, but there was no indication of which exchange the funds would list on.

The Direxion Daily Frontier 100 Bear 1X Shares, meanwhile, will be the first ETF of its kind and offer inverse exposure to the MSCI Frontier Markets 100 Index. It too will come with an expense ratio of 0.45%.

The filing also did not include tickers for any of the ETFs.

Contact Heather Bell at [email protected].