On Thursday, MicroSectors Gold Miners ETNs announce they are expanding their MicroSectors brand with the launch of two Gold Miners ETNs, the MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and the MicroSectors Gold Miners -3X Inverse Leveraged ETN (GDXD). The ETNs have begun trading on the NYSE Arca.
GDXU and GDXD offer daily resetting +3x leverage & -3x inverse leverage linked to gold miners securities and leveraged exposure to S-Network MicroSectors Gold Miners Index performance. Each ETN offers investors a return based on changes in the level of the index.
With this launch, GDXU and GDXD will be joining other well-known products, such as the MicroSectors FANG+ Index 3X Leveraged ETN (FNGU) and the MicroSectors FANG+ ETN (FNGS) in the MicroSectors stable.
Another Golden Index
The S-Network MicroSectors Gold Miners Index tracks the performance of two of the largest gold mining ETFs, the VanEck Vectors Gold Miners ETF (GDX ) and the VanEck Vectors Junior Gold Miners ETF (GDXJ ). The index’s underlying composition is market capitalization-weighted across both ETFs.
Each ETN seeks a return on the underlying index for a single day. The ETNs are not “buy and hold” investments and should not be expected to provide its respective return of the underlying index’s cumulative return for periods greater than a day.
MicroSectors provides concentrated exposure to investable market segments that heavily influence many investor portfolios. Developed as high-impact trading and hedging instruments, MicroSectors ETNs are designed to give investors precise exposure to the market’s popular niches. They are a REX Shares product.
For more information, visit www.microsectors.com.
This article originally appeared on ETFTrends.com.