Direxion Launches New Daily 2X Leveraged ETFs: FNTC, ONG and EVEN
NEW YORK, Jan. 20, 2022 /PRNewswire/ -- Direxion launched the Direxion Daily FinTech Bull 2X Shares (Ticker: FNTC), Direxion Daily Oil Services Bull 2X Shares (Ticker: ONG) and Direxion Daily S&P 500® Equal Weight Bull 2X Shares (Ticker: EVEN). The Funds seek to achieve 200% of the daily performance of the Indxx US Fintech and Decentralized Finance Index, MVIS US Listed Oil Services 25 Index and S&P 500® Equal Weight Index, respectively.
The Indxx US Fintech and Decentralized Finance Index includes companies offering technology-driven financial services, and facilitating a decentralized finance infrastructure, that are disrupting existing business models in the financial services industry in the United States. Included are the following sub-themes: Digital Payments, Point-of-Sale (POS) , Personal Finance Software and Credit/Debit Card Issuers, Tax Compliance Software and Backend Payment Processing, Decentralized Finance, Financial Enterprise Solutions, and Peer-to-Peer Lending and Crowdfunding. Companies involved in business activities associated with these sub-themes will be eligible for inclusion. Eligible companies deriving a minimum of 50% of their total revenue from these sub-themes will form the selection list.
The MVIS US Listed Oil Services 25 Index tracks the performance of the largest and most liquid companies in the oil services industry that are listed in the United States. This is a modified market cap-weighted index, and only includes companies that generate 50% of their revenue from oil equipment, oil services or oil drilling. The Index tracks the 25 largest and most heavily-traded oil service companies. Companies must generate at least 50% revenues from oil services.
The S&P 500® Equal Weight Index is the equal-weight version of the widely-used S&P 500. The index includes the same constituents as the capitalization weighted S&P 500, but each company in the Index is allocated a fixed weight - or 0.2% of the index total at each quarterly rebalance.
"2022 continues to offer opportunities for traders to take advantage of trends by taking bold positions in the continued emergence and evolution of fintech, along with the corporate picks and shovels of the oil industry," said Dave Mazza, Managing Director at Direxion. "Equal-weighting the S&P 500® provides more balanced exposure to large caps than a market cap weighted approach."
Like all leveraged ETFs, these Direxion ETFs are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee that these Fund will meet their objectives.
About Direxion:
Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion's reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $30.8 billion in assets under management as of December 31, 2021. For more information, please visit www.direxion.com.
There is no guarantee that the Funds will achieve their investment objectives.
For more information on all Direxion Shares daily leveraged ETFs, go to www.direxion.com, or call us at 866.301.9214.
Leveraged ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily leveraged and inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.
An investor should carefully consider a Fund's investment objective, risks, charges, and expenses before investing. A Fund's prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a Fund's prospectus and summary prospectus call 866-716-0735 or visit our website at direxion.com. A Fund's prospectus and summary prospectus should be read carefully before investing.
Direxion Shares Risks - An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration that results from an ETF's investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. The ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index for periods other than a single day. For other risks including leverage, correlation, daily compounding, market volatility and risks specific to an industry or sector, please read the prospectus.
Distributor: Foreside Fund Services, LLC.
CONTACT: James Doyle
JConnelly
973.850.7308
jdoyle@jconnelly.com
SOURCE Direxion
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