Leveraged long ETFs, ProShares Ultra MSCI EAFE (NYSEArca: EFO) and ProShares Ultra MSCI Europe (NYSEArca: UPV), which do not trade tremendous amounts of volume on a daily basis (1,600 and 4,900 shares respectively on average for these two funds) as well as Direxion Daily Developed Markets Bull 3X (NYSEArca: DZK) may see accelerated activity in the near term as well, especially if there is any positive price momentum among European equities.
It is no secret that European equities have significantly trailed their U.S. counterparts, as the MSCI Europe index is down 5.54% year to date versus the S&P 500 Index up 2.81% during the same timeframe.
Similarly, the story does not get better over longer periods of time. In the trailing one year period the MSCI Europe index is down 27.23% versus the S&P down 1.05%, and in the trailing five year period the MSCI Europe index is down 49.20% versus the S&P 500 down 16.26%.
Vanguard Europe
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