ETF Trends
ETF Trends

Direxion Investments has rolled out the first leveraged and inverse silver miner sector-specific exchange traded funds to help more aggressive traders gain exposure to the quick turns in the precious metals market.

On Thursday, Direxion launched the Direxion Daily Silver Miners Index Bull 2X Shares (NYSEArca: SHNY) and the Direxion Daily Silver Miners Index Bear 2X Shares (NYSEArca: DULL). Both ETFs come with a 0.80% net expense ratio.

“Silver’s shrinking price over the past several years forced silver miners to innovate to drive production costs down. Now that prices are rebounding, those cost reductions are paying off in a big way,” Sylvia Jablonski, Managing Director at Direxion, said in a note. “The launch of the Silver Miners leveraged and inverse ETFs is timely, as the funds allow traders to magnify their short-term perspective on one of the most popular metal and related-asset trades.”

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SHNY will try to reflect the 2x or 200% daily performance of the Solactive Global Silver Miners Index while DULL will take the -2x or -200% daily performance of the same index.

The Solactive Global Silver Miners Index is also the benchmark for the popular Global X Silver Miners ETF (NYSEArca: SIL), which has surged 165.9% year-to-date.

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