Bringing you live news and features since 2006 

Direxion launches 3X leveraged ETFs tracking FTSE Developed Europe Index


Direxion has launched a pair of leveraged exchange-traded funds tracking the equity performance of mid- and large-capitalisation companies in Europe’s developed markets. 

The Direxion Daily FTSE Europe Bull 3X Shares (EURL) seeks to generate daily investment results of 300 per cent of the FTSE Developed Europe Index’s performance, before fees and expenses.
The Direxion Daily FTSE Europe Bear 3X Shares (EURZ) attempts to deliver daily investment results, before fees and expenses, of 300 per cent of the inverse of the same composite’s performance.
The FTSE Developed Europe Index, created and managed by global index provider FTSE, is a free-float-adjusted composite designed to measure the equity market performance of mid- and large-cap segments of developed markets in Europe.
“Now that Europe has exited recession and the global economy is recovering, this is the ideal time to offer active traders an opportunity to gain leveraged exposure to the most liquid stocks in developed European markets,” says Eric Falkeis (pictured), president of Direxion. “By following a reliable benchmark from one of the strongest global index providers, Direxion is trying to give short-term investors the best possible chance of receiving healthy returns and additional diversification, regardless of their regional investment outlook.”  
As of 31 December 2013, the FTSE Developed Europe Index consisted of companies with market capitalisations between USD344m and USD236.78bn, and generated total annual return of 26.2 per cent. Also as of that date, the index included companies based in 17 countries — Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK.
On 12 December 2013, two of Direxion’s other leveraged ETFs — the Direxion Daily FTSE China Bull 3X Shares (YINN) and Direxion Daily FTSE China Bear 3X Shares (YANG) – began following the FTSE China 25 Index.
“On the heels of their recent move to transition two leveraged ETFs to the FTSE China 25 Index, the decision by Direxion to launch two new leveraged ETFs linked to the FTSE Developed Europe Index reinforces our leading approach to both developed and emerging markets,” says Jonathan Horton, president of FTSE North America and head of FTSE’s exchange-traded product service unit. “The expansion of our relationship with Direxion also serves as another indication that global investor confidence is returning — to the point where there is growing demand for leveraged ETF strategies catering to both bull and bear investors.”

Latest News

ETP provider GraniteShares has announced it has surpassed USD5 billion in assets under management (AUM), reaching USD5.199 billion...
News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by