The long/short exchange traded fund (ETF) market just got, well, more leverage, as provider Direxion announced the launch of two new funds to its fast-growing lineup of triple-leverage funds.

The two new ETFs are leveraged bull and bear index funds, which track the Russell 1000 index and seek 300% of the moves within. Components are companies with an average market cap of about $5.2 billion, according to Jon C. Ogg on 24/7 Wall Street.

Direxion Mid Cap Bull 3x Shares (MWJ) is expected to move at roughly 300% of the same direction as the Russell Mid-Cap Index. Direxion Mid Cap Bear 3x Shares (MWN) is expected to move at roughly 300% of the inverse direction of the Russell Mid-Cap Index.

These funds are aggressive and provide fast access to the directional changes in the market. Ogg says these funds are not your grandmother’s cup of tea. Leveraged funds can have big volatility, so be sure you understand how they work and decide if you can handle the risks before diving in.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.