Direxion Investments has expanded its line of leveraged China ETFs with a targeted bullish approach to the quickly growing Chinese internet segment.

On Wednesday, Direxion launched the Direxion Daily CSI China Internet Index Bull 2X Shares (NYSEArca: CWEB). CWEB has a net expense ratio of 0.95%.

“The Chinese internet sector is booming with continued growth of not only the internet user population, but the full adoption of web-based online retailer models,” Sylvia Jablonski, Managing Director at Direxion, said in a press release. “The launch of CWEB is timely, as companies like Alibaba, which has just announced quarterly earnings, along with Tencent Holdings and Baidu, gain popularity among traders.”

CWEB tries to reflect the daily performance of 2x or 200% exposure of the CSI Overseas China Internet Index, which includes exposure to China based companies focused on internet and internet-related technologies either trading on the Hong Kong Stock Exchange, NASDAQ Stock Market or New York Stock Exchange.

Potential investors should be aware the CWEB tries to reflect the daily 2x performance, so the fund may diverge from its 200% strategy over the long-term, especially during more volatile market conditions.

“The fund should not be expected to provide two times the return of the benchmark’s cumulative return for periods greater than a day,” according to Direxion.

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