As if India and the emerging economies known as the BRIC, Brazil, Russia, India and China, didn’t have enough risk, leveraged ETF house Direxion launched on Friday six new Bull and Bear funds to track India, all four BRIC countries, and the U.S. semiconductor industry. Direxion says these are the first leveraged ETFs to track India and the BRIC countries.
The Direxion Daily BRIC Bull 2x Shares (BRIL) and Direxion Daily BRIC Bear 2x Shares (BRIS) track the BNY Mellon BRIC Select ADR Index. This index holds a select group of American depositary receipts from stocks that are listed in Brazil, Russia, India and China. Each fund either returns twice the daily performance of its tracking index, or twice the negative daily return of the index.
The Direxion Daily India Bull 2x Shares (INDL) and the Direxion Daily India Bear 2x Shares (INDZ) track the Indus India Index, which represents the whole Indian equity market. The index holds the 200 largest companies listed on India’s National Stock Exchange and the largest 200 companies listed on the Bombay Stock Exchange. INDL returns twice the daily return of its tracking index, while INDZ twice the negative daily return of the index.
The premier index for tracking the U.S. semiconductor industry is the Philadelphia Exchange Semiconductor Sector Index, which is known by its ticker, and called the SOX. The Direxion Daily Semiconductor Bull 3x Shares (SOXL) gives 300% of the daily move on the index while Direxion Daily Semiconductor Bear 3x Shares (SOXS) gives a negative 300%.
The funds lift the total number of leveraged ETFs offered by Direxion to thirty-four.