Indxx has announced the licensing of their Indxx US Infrastructure Index to US-based asset manager, Direxion ETFs.
The index will serve as the underlying benchmark for Direxion Daily US Infrastructure Bull 2X Shares ETF (NYSE : DOZR). The Index (Ticker: IUSIMFIT) is designed to track the performance of US listed companies that are involved in the provision of infrastructure through engineering, design, maintenance and construction of infrastructure projects.
“President Joe Biden’s trillion-dollar infrastructure plan is a transformational effort to rebuild America’s infrastructure. It is expected to translate into 20,000 miles of rebuilt roads and 10,000 bridges, creating as many 28,000 jobs opportunities. The plan’s spending also targets overhauling essential infrastructure segments, such as housing, broadband, electrical grids and many more”, says Rahul Sen Sharma, Managing Partner at Indxx. “We are excited to partner with Direxion ETFs to bring this leveraged opportunity to the US market.”
Says Vaibhav Agarwal, Chief Revenue Officer at Indxx, “Our Index relies on a research focused approach to identify the forerunners sought to benefit from the infrastructure boom. The Index primarily captures the performance of companies providing Construction & Engineering Services and Construction & Engineering Services. As Joe Biden’s plan to upgrade American infrastructure progresses, we believe this industry has immense growth potential.”
As of September 23, 2021, the index has 74 constituents. It has a back tested date of January 29, 2016, and a live calculation date of April 21, 2021. Additional information can be found here.