NEW YORK, Aug. 10, 2016 /PRNewswire/ -- Direxion announced
today it has added a new ETF to its existing lineup of inverse
ETFs. The new Fund allows tactical managers to hedge against
downturns in the MSCI Europe Financials Index. The Direxion Daily
European Financials Bear 1X Shares (Ticker: EUFS) seeks daily
investment results, before fees and expenses, of 100% of the
inverse of the performance of the MSCI Europe Financials Index.
Fund
|
Symbol
|
CUSIP
|
Benchmark
|
Daily
Target
|
Gross
Expense
Ratio
|
Net Expense
Ratio*
|
Direxion Daily
European
Financials Bear
1X Shares
|
EUFS
|
25490K182
|
MSCI Europe
Financials Index
|
-100%
|
0.58%
|
0.45%
|
"Our new European Financials Bear ETF will complement our
recently launched leveraged ETF tracking that space, giving traders
another option for taking advantage of short-term opportunities,"
said Sylvia Jablonski, Managing
Director at Direxion. "We think EUFS is coming to market at the
right time as European banks face the challenges of troubling
stress tests, risks associated with contagion, and the aftermath of
Brexit."
Like all leveraged ETFs, this Direxion product is 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 the Fund will meet its objectives.
About Direxion:
Direxion builds bold products for investors who want more than
the status quo. Our index-based products deliver directional
options, magnified exposure, and long-term, rules-based strategies.
Founded in 1997, the company has approximately $10.4 billion in assets under management as of
June 30, 2016. Direxion's diverse
suite of products helps investors navigate today's ever-changing
markets. For more information, please visit
www.direxioninvestments.com.
There is no guarantee that the Funds will achieve their
objectives.
For more information on all Direxion Shares daily leveraged
ETFs, go to direxioninvestments.com, or call us at
866-476-7523.
The 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 consider the investment objectives, risks,
charges, and expenses of Direxion ETFs carefully before investing.
The prospectus and summary prospectus contains this and other
information about Direxion ETFs. Download a prospectus and summary
prospectus at direxioninvestments.com. The prospectus
and summary prospectus should be read carefully before
investing.
* The Expense Cap of the Fund includes management fee and other
operating expenses, but does not include indirect expenses such as
Acquired Fund Fees and Expenses, leveraged interest and brokerage
commissions. Including Acquired Fund Fees and Expenses the Fund's
Total Annual Fund Operating Expenses would be 0.58%. The Fund's
Advisor, Rafferty Asset Management, LLC has entered into an
Operating Expense Limitation Agreement with the Fund. Under the
Operating Expense Limitation Agreement, Rafferty has contractually
agreed to cap all or a portion of its management fee and/or
reimburse the Fund for Other Expenses through September 1, 2017, to the extent that the Fund's
Total Annual Fund Operating Expenses exceed 0.45%.
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 risk that results from the Funds'
investments in a particular industry or sector which can increase
volatility. The use of derivatives such as futures contracts,
forward contracts, options and swaps are subject to market risks
that may cause their price to fluctuate over time. The Funds do not
attempt to, and should not be expected to, provide returns which
are a multiple of the return of the Index for periods other than a
single day. For other risks including correlation, compounding,
market volatility and specific risks regarding each sector, please
read the prospectus.
Distributor: Foreside Fund Services, LLC.
CONTACT:
|
James
Doyle
|
|
JConnelly
|
|
973-850-7308
|
|
jdoyle@jconnelly.com
|
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SOURCE Direxion