NEW YORK, April 7, 2016 /PRNewswire/ -- Direxion
announced today that it has added three new exchange-traded funds
to its existing lineup of inverse ETFs. The new Funds allow
tactical managers to hedge against downturns in popular
S&P® Select Sector Indexes. The Direxion Daily
Energy Bear 1X Shares (Ticker: ERYY) seeks daily investment
results, before fees and expenses, of 100% of the inverse of the
performance of the Energy Select Sector Index. The Direxion Daily
Financial Bear 1X Shares (Ticker: FAZZ) seeks daily investment
results, before fees and expenses, of 100% of the inverse of the
performance of the Financials Select Sector Index. The Direxion
Daily Technology Bear 1X Shares (Ticker: TECZ) seeks daily
investment results, before fees and expenses, of 100% of the
inverse of the performance of the Technology Select Sector
Index.
Fund
|
Symbol
|
CUSIP
|
Benchmark
|
Daily
Target
|
Gross
Expense
Ratio
|
Net Expense
Ratio
|
Direxion Daily Energy
Bear 1X Shares
|
ERYY
|
25490K265
|
Energy Select Sector
Index
|
-100%
|
0.56%
|
0.45%
|
Direxion Daily
Financial Bear 1X Shares
|
FAZZ
|
25490K257
|
Financials Select
Sector Index
|
-100%
|
0.56%
|
0.45%
|
Direxion Daily
Technology Bear 1X Shares
|
TECZ
|
25490K240
|
Technology Select
Sector Index
|
-100%
|
0.56%
|
0.45%
|
"Tactical managers are always preparing for potential market
pullbacks, but know it's expensive to change the asset and security
allocation of a portfolio. They have to consider capital gains, as
well as the costs of using margin and short-selling," said
Sylvia Jablonski, Managing
Director at Direxion. "Inverse ETFs like these are especially
useful for managers who want to hedge against short-term market
risk without reconstructing their portfolios. They offer a simple,
flexible and low-cost way to hedge."
Like all inverse ETFs, these Funds are intended only for traders
with an understanding of the risks associated with seeking inverse
investment results, and who plan to actively monitor and manage
their positions. There is no guarantee that the Funds will meet
their objectives.
About Direxion:
Direxion builds bold products for investors who want more than
the status quo. Our index-based products deliver directional
options, magnified exposure, and long-term, rules-based strategies.
Founded in 1997, the company has approximately $9.8 billion in assets under management as of
March 31, 2016. Direxion's diverse
suite of products helps investors navigate today's ever-changing
markets. For more information, please visit
www.direxioninvestments.com.
There is no guarantee that the funds will achieve their
objectives.
For more information on all Direxion Shares daily leveraged
ETFs, go to direxioninvestments.com, or call us at
866-476-7523.
The ETFs are not suitable for all investors and should be
utilized only by investors who understand the risks associated with
seeking daily inverse investment results, and intend to actively
monitor and manage their investments. Due to the daily nature of
the inverse investment strategies employed, there is no guarantee
of long-term inverse returns. Past performance is not indicative of
future results.
An investor should consider the investment objectives, risks,
charges, and expenses of Direxion ETFs carefully before investing.
The prospectus and summary prospectus contains this and other
information about Direxion ETFs. Download a prospectus and summary
prospectus at direxioninvestments.com. The prospectus
and summary prospectus should be read carefully before
investing.
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 risk that results from the Funds'
investments in a particular industry or sector which can increase
volatility. The use of derivatives such as futures contracts,
forward contracts, options and swaps are subject to market risks
that may cause their price to fluctuate over time. The Fund does
not attempt to, and should not be expected to, provide returns
which are a multiple of the return of the Index for periods other
than a single day. For other risks including correlation,
compounding, market volatility and specific risks regarding each
sector, please read the prospectus.
Distributor: Foreside Fund Services, LLC.
CONTACT:
|
James
Doyle
|
|
JConnelly
|
|
973-850-7308
|
|
jdoyle@jconnelly.com
|
Logo - http://photos.prnewswire.com/prnh/20150819/259586LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/direxion-launches-three-bear-etfs-on-popular-sp-select-sector-indexes-300247815.html
SOURCE Direxion