A similar scenario has been seen with ERX’s more lightly leveraged rival, the ProShares Ultra Oil & Gas Proshares (NYSEArca; DIG). DIG tries to deliver twice the daily performance of the Dow Jones U.S. Oil & Gas Index, the underlying index for IYE.
IYE is off 0.7% this year, dragging DIG to a 2.4% loss in the process, but that has not prevented DIG from adding in $31.2 million in new assets. XLE and IYE have added $727.9 million and $39.3 million, respectively, in new assets this year.
Direxion Daily Energy Bull 3X Shares