Direxion launched two new leveraged ETFs that focus on companies that are involved in the delivery of computing services – servers, storage, databases, networking, software, analytics, and more, over the internet, which is often referred to as the “Cloud.”
The Daily Cloud Computing Bull and Bear 2X Shares ETFs (Tickers: CLDL/CLDS) seek to achieve 200%, or 200% of the inverse, of the daily performance of the Indxx USA Cloud Computing Index.
Direxion Managing Director Dave Mazza said cloud computing has proven to be one of the most successful trading themes of 2020.
“We’re very excited to offer traders leveraged exposure to express bullish or bearish positions on this high growth industry,” Mazza said. “These Leveraged ETFs allow traders to take a bold position in stocks that are critical as the virtual computing world expands exponentially.”
The Indxx USA Cloud Computing Index provides exposure to domestic companies that deliver cloud computing infrastructure, platforms, or services. The companies included in the Index are involved in the delivery of computing services – servers, storage, databases, networking, software, analytics, and more, over the internet, which is often referred to as the “Cloud.”
| Fund | Symbol | CUSIP | Benchmark | Gross ExpenseRatio | Net Expense Ratio* |
|---|---|---|---|---|---|
| Daily Cloud Computing Bull 2X Shares | CLDL | 25460G625 | Indxx Cloud Computing Index | 0.95% | 0.95% |
| Daily Cloud Computing Bear 2X Shares | CLDS | 25460G633 | Indxx Cloud Computing Index | 0.95% | 0.95% |
Like all leveraged ETFs, these Direxion products are 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 these funds will meet their objective.
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