The Direxion Daily MSCI Europe Currency Hedged Bull 2x Shares seeks to deliver twice the daily returns of the MSCI Europe US Dollar Hedged Index, making the new Direxion ETF a leveraged answer to the wildly popular Deutsche X-Trackers MSCI Europe Hedged Equity ETF (NYSEArca: DBEU). DBEU now has over $2.5 billion in assets under management. [More Upside Seen for Currency Hedged ETFs]
The MSCI Europe US Dollar Hedged Index allocates 31.2% of its weight to British stocks, 14.8% to French equities and 14.3% to Swiss stocks. HEGE’s top 10 holdings include Nestle (OTC: NSRGY), Novartis (NYSE: NVS), BP (NYSE: BP) and Royal Dutch Shell (NYSE: RDS-A).
Direxion has significantly expanded its leveraged lineup in recent weeks as HEGJ and HEGE are the issuers fifth and sixth new ETFs to come to market since late May. On May 29, the issuer introduced the Direxion Daily S&P Oil & Gas Exploration & Production Bull Shares (NYSEArca: GUSH) and the Direxion Daily S&P Oil & Gas Exploration & Production Bear Shares (NYSEArca: DRIP). On May 28, Direxion debuted the first triple-leveraged biotech ETFs, the Direxion Daily S&P Biotech Bull Shares (NYSEArca: LABU) and the Direxion Daily S&P Biotech Bear Shares (NYSEArca: LABD).
Table Courtesy: Direxion