Related: Rome Extends Italy Banks, ETFs a Helping Hand

Negative interest rates in the Eurozone and in other European countries are another problem for EUFN’s holdings.

“In short, customers who hold money at banks are slowly beginning to get squeezed and charged fees. What does this mean? To me, I feel it’s going to be negative on the banks and their share prices as investor slowly move away from those banks and/or spread their money to other asset classes to avoid paying interest to a bank to hold their money,” according to ETF Daily News.

Investors can play further weakness in EUFN and European banking names with the new Direxion Daily European Financials Bear 1X Shares (EUFS), which debuted earlier this month. EUFS is an inverse though not leveraged ETF.

iShares MSCI Europe Financials ETF