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Direxion launches non-leveraged airline ETF


Direxion has launched the Direxion Airline Shares ETF.

This is Direxion’s first non-leveraged ETF and is designed to seek investment results, before fees and expenses, of the price performance of the NYSE Arca Airline Index.

The index is designed to measure the performance of highly capitalised and liquid US and international passenger airline companies listed on developing and emerging global market exchanges.

"Direxion is focused on continually developing new investment tools that provide sophisticated investors with direct exposure to a multitude of sectors. We’re very pleased to offer our first non-leveraged ETF for the passenger airline space, which reflects our commitment to meeting market demands in a variety of forms," says Direxion president Dan O’Neill.

"As the passenger airline space experiences increased trading volume, this new ETF provides direct access for investors looking to execute institutional-style strategies within this market. With exposure to only one European airline and no exposure to Asian airlines, FLYX offers investors cost-efficient, focused access to some of the most actively traded airline stocks in the Americas, so they can take a more surgical portfolio position."

The fund is different from the other Direxion Shares ETFs in that it does not seek a daily magnified goal. This makes it a more suitable investment to be bought and held without being exposed to daily compounding and other risks associated with leveraged ETFs.

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