AXS Investments has launched two new ETFs: the AXS 2X Innovation ETF (TARK) and the AXS Short China Internet ETF (SWEB).
TARK, listed on the Nasdaq on May 2, seeks two times (2x) the daily exposure to a portfolio of companies involved in transformational industries, such as genomics, autonomous vehicles and next-gen internet. The ETF is designed as a potential solution for investors who have a bullish view on the growth of these disruptive technologies, according to a statement from the firm.
“Recent market conditions have created what we view as a very compelling entry point for high conviction investors who believe in the value of innovation,” Greg Bassuk, chief executive officer of AXS Investments, said in a statement. “We are excited to offer the AXS 2X Innovation ETF as an easily accessible leveraged exposure to these companies.”
SWEB, also listed on the Nasdaq on May 2, seeks 1x daily short exposure to a portfolio of China-based internet-related companies, designed for investors who may want to take a targeted position against a group that has recently faced a challenging macro backdrop, according to a statement from the firm.
“We believe offering inverse exposure to China’s Internet sector creates an opportunity for those investors who foresee a continuation of the market and geopolitical headwinds that are currently confronting Chinese technology and Internet-related companies,” Bassuk said in a statement.
Alongside the new launches, the Tuttle Capital Short Innovation ETF (SARK) is to join the AXS funds line-up. SARK seeks inverse exposure to the same portfolio of disruptive technologies captured by TARK. Since launching in November, SARK has amassed over $425 million in assets under management.
It was announced last month that AXS Investments would acquire Tuttle Capital Management’s suite of six ETFs. Tuttle’s CEO will be joining AXS to continue to focus on portfolio management and trading.
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