Direxion’s move to cross-list six of their most popular, highly liquid ETFs across the pond is seen by the fund provider as a convenient way to make them available over there, but not a full-blown move to open up shop in Europe, says Andy O’Rourke, Direxion’s marketing director.
The six funds, which began trading this morning, are:
- Direxion Daily Emerging Markets Bull 3x (NYSEArca: EDC)
- Direxion Daily Large Cap Bull 3x (NYSEArca: BGU)
- Direxion Daily Financial Bull 3x (NYSEArca: FAB)
- Direxion Daily Emerging Markets Bear 3x (NYSEArca: EDZ)
- Direxion Daily Large Cap Bear 3x (NYSEArca: BGZ)
- Direxion Daily Financial Bear 3x (NYSEArca: FAZ)
O’Rourke stresses that Direxion isn’t opening up new funds, they’re simply making them available to be traded on the exchange. These ETFs are the first triple-leveraged funds to be offered to European investors, but providers like ETF Securities and Lyxor offer leveraged funds of their own there.
Leveraged and inverse ETFs aren’t for everyone. Whether you’re in Europe or the United States, it’s important to understand how market forces like volatility can impact these funds. Read our special report to decide if they’re right for you.
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