ETFdb Logo
ETFdb Logo
  • ETF Database
  • Channels
    • Active ETF
    • Alternatives
    • Beyond Basic Beta
    • China Insights
    • Climate Insights
    • Commodities
    • Core Strategies
    • Crypto
    • Disruptive Technology
    • Dividend
    • Dual Impact
    • Emerging Markets
    • Energy Infrastructure
    • ESG
    • ETF Building Blocks
    • ETF Education
    • ETF Strategist
    • Fixed Income
    • Free Cash Flow
    • Future ETFs
    • Global Diversification
    • Gold/Silver/Critical Minerals
    • Innovative ETFs
    • Institutional Income Strategies
    • Leveraged & Inverse
    • Managed Futures
    • Market Insights
    • Megatrends
    • Modern Alpha
    • Multi-Asset
    • Night Effect
    • Portfolio Strategies
    • Retirement Income
    • Richard Bernstein Advisors
    • Tax Efficient Income
    • Thematic Investing
    • Volatility Resource
  • Tools
    • ETF Screener
    • ETF Country Exposure Tool
    • ETF Sector Tracker Tool
    • ETF Database Categories
    • Head-To-Head ETF Comparison Tool
    • ETF Stock Exposure Tool
    • ETF Issuer Fund Flows
    • Indexes
    • Mutual Fund To ETF Converter
    • ETF Data for Journalists
    • ETF Nerds
  • Research
    • First Bitcoin ETF
    • ETF Education
    • Equity Investing
    • Dividend ETFs
    • Leveraged ETFs
    • Inverse ETFs
    • Index Education
    • Index Insights
    • Top ETF Sectors
    • Top ETF Issuers
    • Top ETF Industries
  • Webcasts
  • Themes
    • AI ETFs
    • Blockchain ETFs
    • See all Thematic Investing ETF themes
    • ESG Investing
    • Marijuana ETFs
  • Multimedia
    • ETF 360 Video Series
    • ETF Trends on Videos
    • ETF Trends on Podcasts
    • ETF Prime Podcast
  • Company
    • About Us
    • Swag Store
  • PRO
    • Pro Content
    • Pro Tools
    • Advanced
    • FAQ
    • Pricing
    • Free Sign Up
    • Login
  1. Leveraged & Inverse ETF Channel
  2. Direxion Launches 3 New ETFs
Leveraged & Inverse ETF Channel
Share

Direxion Launches 3 New ETFs

James ComtoisJan 20, 2022
2022-01-20

Direxion announced Thursday the launch of three new ETFs available to trade on the New York Stock Exchange: the Direxion Daily FinTech Bull 2X Shares (NYSE Arca: FNTC), the Direxion Daily Oil Services Bull 2X Shares (NYSE Arca: ONG), and the Direxion Daily S&P 500 Equal Weight Bull 2X Shares (NYSE Arca: EVEN).

The funds seek to achieve 200% of the daily performance of the Indxx US Fintech and Decentralized Finance Index, the MVIS US Listed Oil Services 25 Index, and the S&P 500 Equal Weight Index, respectively.

FNTC follows the Indxx US Fintech and Decentralized Finance Index, which includes companies offering technology-driven financial services and facilitating a decentralized finance infrastructure, that are disrupting existing business models in the financial services industry in the U.S.

The following sub-themes are included in FNTC: digital payments, point-of-sale, personal finance software and credit/debit card issuers, tax compliance software and backend payment processing, decentralized finance, financial enterprise solutions, and peer-to-peer lending and crowdfunding. Companies involved in business activities associated with these sub-themes will be eligible for inclusion. Eligible companies deriving a minimum of 50% of their total revenue from these sub-themes will form the selection list.

Meanwhile, ONG follows the MVIS US Listed Oil Services 25 Index, which tracks the performance of the largest and most liquid companies in the oil services industry that are listed in the United States. This is a modified market cap-weighted index, and only includes companies that generate 50% of their revenue from oil equipment, oil services, or oil drilling. The index tracks the 25 largest and most heavily traded oil service companies. Companies must generate at least 50% of their revenues from oil services.

Finally, EVEN tracks the S&P 500 Equal Weight Index, the equal-weight version of the S&P 500. The index includes the same constituents as the capitalization-weighted S&P 500, but each company in the index is allocated a fixed weight, or 0.2% of the index total at each quarterly rebalance.

“2022 continues to offer opportunities for traders to take advantage of trends by taking bold positions in the continued emergence and evolution of fintech, along with the corporate picks and shovels of the oil industry,” said Dave Mazza, managing director at Direxion, in a news release announcing the funds. “Equal-weighting the S&P 500 provides more balanced exposure to large caps than a market cap weighted approach.”

For more news, information, and strategy, visit the Leveraged & Inverse Channel.

Loading Articles...
Help & Info
  • Contact Us
Tools
  • ETF Screener
  • ETF Analyzer
  • Mutual Fund to ETF Converter
  • Head-To-Head ETF Comparison
  • ETF Country Exposure Tool
  • ETF Stock Exposure Tool
  • ETF Performance Visualizer
  • ETF Database Model Portfolios
  • ETF Database Realtime Ratings
  • ETF Database Pro
More Tools
  • ETF Launch Center
  • Financial Advisor & RIA Center
  • ETF Database RSS Feed
Explore ETFs
  • ETF News
  • ETF Picks of the Month
  • ETF Category Reports
  • Premium Articles
  • Alphabetical Listing of ETFs
  • Best ETFs
  • Browse ETFs by ETF Database Category
  • Browse ETFs by Index
  • Browse ETFs by Issuer
  • Compare ETFs
Legal
  • Terms of Use and Privacy Policy
  • © 2023 VettaFi LLC. All rights reserved.
Follow ETF Database
Follow ETF Database

Advertisement

Is Your Portfolio Positioned With Enough Global Exposure?

ETF Education Channel

How to Allocate Commodities in Portfolios

Tom LydonApr 26, 2022
2022-04-26

A long-running debate in asset allocation circles is how much of a portfolio an investor should...

Core Strategies Channel

Why ETFs Experience Limit Up/Down Protections

Karrie GordonMay 13, 2022
2022-05-13

In a digital age where information moves in milliseconds and millions of participants can transact...

}
X