Direxion Plans 6 Leveraged ETFs

A recent filing from Direxion outlines plans for half a dozen ETFs that will offer 2x and 3x leverage in three key areas. The funds and their expense ratios are as follows:

• Direxion Daily Lithium Bull 2X Shares, 1.09%
• Direxion Daily Robotics & Artificial Intelligence Bull 2X Shares, 1.07%
• Direxion Daily Preferred Stock Bull 2X Shares, 0.90%
• Direxion Daily Lithium Bull 3X Shares, 1.24%
• Direxion Daily Robotics & Artificial Intelligence Bull 3X Shares, 1.22%
• Direxion Daily Preferred Stock Bull 3X Shares, 1.05%

The ETFs targeting the lithium and robotics markets are tied to the same indexes tracked by some of the best-performing ETFs of 2017. The $1.1 billion Global X Lithium & Battery Tech ETF (LIT), which is tied to the Solactive Global Lithium Index, was up more than 64% for the year, while the $2.4 billion Global X Robotics & Artificial Intelligence ETF (BOTZ), which is tied to the Indxx Global Robotics and Artificial Intelligence Thematic Index, was up 58%.

Direxion’s two preferred stock ETFs will be based on the Indxx US High Yield, Low Volatility Preferred Stock Index, which is not tracked by any regular long-exposure ETF.

Contact Heather Bell at [email protected]