NEW YORK, Sept. 30, 2021 /PRNewswire/ -- Direxion
launched the Direxion Daily Select Large Caps & FANGs Bull 2X
Shares (Ticker: FNGG). The Fund seeks to achieve 200% of the daily
performance of the ICE FANG 20 Index.
The ICE FANG 20 Index provides exposure to Facebook, Apple,
Amazon, Netflix, Google, Microsoft and similar highly-traded growth
stocks of technology and tech-enabled companies from the
information technology, communication services and consumer
discretionary sectors, for a total of 20. As of September 10, 2021, the Index constituents had a
median total market capitalization of $155
billion, with total market capitalizations ranging from
$44 billion to $2.5 trillion.
Fund
|
Symbol
|
CUSIP
|
Benchmark
|
Gross
Expense
Ratio
|
Net Expense
Ratio*
|
Direxion Daily
Select Large Caps
& FANGs Bull 2X
Shares
|
FNGG
|
25460G575
|
ICE FANG 20
Index
|
1.09%
|
1.07%
|
* The Advisor has contractually agreed to waive a portion or
all of its management fee and/or reimburse the Fund for other
expenses through September 1,
2022.
"Originally conceived as four transformative, high growth stocks
- Facebook, Amazon, Netflix and Google (now known as Alphabet) —
Apple and Microsoft quickly joined the fold due to their
"FANG-like" qualities. The ICE FANG 20 Index includes these six
stock, along with 14 others carrying similar characteristics,
including high average daily volume, high sales growth and the
premium that market is placing on the businesses," said
David Mazza, Managing Director,
Head of Product at Direxion. "FNGG allows traders to take a
bold position in a basket of 20 well-known, highly-traded growth
stocks across the Technology, Media & Communications and
Consumer Discretionary sectors."
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 this Fund will meet its objective.
About Direxion:
Direxion equips investors who are driven by conviction with ETF
solutions built for purpose and fine-tuned for precision. These
solutions are available for a broad spectrum of investors, whether
executing short-term tactical trades, or investing in thematic
strategies. Direxion's reputation is founded on developing products
that precisely express market perspectives and allow investors to
manage their risk exposure. Founded in 1997, the company has
approximately $26.6 billion in assets
under management as of June 30, 2021.
For more information, please visit
www.direxion.com.
There is no guarantee that the Funds will achieve their
investment objectives.
For more information on all Direxion Shares daily leveraged
ETFs, go to direxion.com, or call us at 866.301.9214.
Leveraged 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 carefully consider a Fund's investment
objective, risks, charges, and expenses before investing. A Fund's
prospectus and summary prospectus contain this and other
information about the Direxion Shares. To obtain a Fund's
prospectus and summary prospectus call 866-716-0735 or visit our
website at direxion.com. A Fund's prospectus and summary prospectus
should be read carefully before investing.
The value of stocks of information technology companies
and companies that rely heavily on technology is particularly
vulnerable to rapid changes in technology product cycles, rapid
product obsolescence, government regulation, and competition, both
domestically and internationally, including competition from
competitors with lower production costs. The communication
services sector may be dominated by a small number of companies
which may lead to additional volatility in the sector.
Direxion Shares 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
that results from an ETF's investments in a particular industry or
sector which can increase volatility. The use of derivatives such
as futures contracts and swaps are subject to market risks that may
cause their price to fluctuate over time. The ETFs do not attempt
to, and should not be expected to, provide returns which are a
multiple of the return of their respective index for periods other
than a single day. For other risks including leverage, correlation,
daily compounding, market volatility and risks specific to an
industry or 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