Direxion has just added more leverage to their fast-growing and diverse lineup, this time with a pair of exchange traded funds (ETFs) that target the real estate market.

The new ETFs are deliver triple leverage, or 300% of the daily performance (plus or minus), of the MSCI U.S. REIT Index. The latest additions mean there’s a total of 22 funds in the DirexionShares family.

The new funds are:

• Direxion Daily Real Estate Bull 3x Shares (DRN)
• Direxion Daily Real Estate Bear 3x Shares (DRV)

Both funds will charge an expense ratio of 0.95%. They may seem similar to the newly launched MacroShares funds, but there are at least two big differences:

1. The MacroShares funds are trusts – investor money is put into Treasury securities and other cash holdings; assets are shifted to mirror changes in the S&P/Case-Shiller Composite 10 Home Price Index.

2. The Direxion funds seek to provide leverage on an index of REITs; they are not tracking home prices.

For more stories about new ETFs, visit our New ETF category.

Tags: Long-Short ETFs, New ETFs, Real Estate