Daily ETF Watch: Inverse China Fund Debuts

June 17, 2015

Direxion has rolled out an ETF that offers inverse exposure to China’s A-shares market. Unlike many of the firm’s ETFs though, the fund does not double or triple the performance of the underlying index, and simply provides the investor with -100 percent of the benchmark’s daily returns.

 

The Direxion Daily CSI 300 China A Share Bear 1X Shares (CHAD) is tied to the same index as the $1.6 billion Deutsche X-trackers Harvest CSI 300 China A-Shares ETF (ASHR | D-57), which is the leading China A-shares fund. Essentially, investors can now get the exact opposite of ASHR’s performance. This is the first fund to offer inverse exposure to China’s A-shares market.

 

CHAD comes with an expense ratio of 0.80 percent.

 

Credit Suisse Rebrands ETNs

Credit Suisse has rebranded nine of its exchange-traded notes with the “X-Links” name. The nine products all together have nearly $812 million in assets under management (AUM). The affected ETNs are listed below under their new names:

 

 

Four additional ETNs were unaffected by the change. Three of those are bespoke products created for Fisher Investments with a total of $930.3 million in AUM. The largest of the Fisher Investments ETNs is the Credit Suisse FI Large Cap Growth Enhanced ETN (FLGE), which has $614 million in AUM.

 

The fourth ETN to forgo the X-Links name change is the Credit Suisse MLP ETN (MLPO), which has $108 million in AUM.

 

 

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