Direxion Funds has launched four three-times leveraged exchange-traded funds, expanding its existing lineup of 16 multi-directional, leveraged funds to 20.
The funds seek 300% of the daily performance, or 300% of the daily inverse, of the NYSE Current 10-Year U.S. Treasury Index and the NYSE Current 30-Year U.S. Treasury Index.
By offering these kinds of innovative investment solutions, we continually seek to provide investors with tools for navigating todays volatile markets, said Dan ONeill, president of Direxion. We believe that these four new ETFs further our efforts to meet investor demand for tactical tools designed for active portfolio management, now specific to the Treasury markets.
The four funds are: the Direxion Daily 10-Year Treasury Bull 3x Shares, Direxion Daily 30-Year Treasury Bull 3x Shares, Direction Daily 10-Year Treasury Bear 3x Shares and the Direxion Daily 30-Year Treasury Bear 3x Shares.
Direxion also noted that it has changed the name of all of its leveraged funds to include the word daily to emphasize their daily goals and, ideally, short-term use.