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Direxion Shares adds two 3x leveraged ETFs


Direxion has added two Direxion Shares Daily 3x ETFs to its existing line-up of multi-directional leveraged funds.

The new ETFs are the leveraged bull and bear index funds that seek 300 per cent of the daily performance, or 300 per cent of the inverse of the daily performance (before fees and expenses), of the NYSE Arca Current 2-Year US Treasury Index.

These are the only 3x daily leveraged ETFs that provide single-security exposure to the current 2-Year US Treasury note, a benchmark of greater transparency than a basket of bonds with varying durations.

"The yield on the 2-Year Treasury is historically highly correlated to the Federal funds rate, which many sophisticated investors are currently anticipating movement in due to changing inflation expectations," says Dan O’Neill, Direxion Shares’ president. "As a provider of sophisticated investment solutions designed to help optimize institutional-style portfolio strategies, we think it’s an apt time to introduce the only ETFs that offer leveraged exposure to the 2-Year Treasury on both the long and short side, as investors prepare for the Federal Reserve to act."

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