New ETFs Provide 300% Bull & Bear Exposure to High Beta and Internet Stocks
NEW YORK — November 7, 2019 — Direxion launched the Direxion Daily S&P 500® High Beta Bull and Bear 3X Shares (Tickers: HIBL/HIBS), and the Direxion Daily Dow Jones Internet Bull and Bear 3X Shares (Tickers: WEBL/WEBS). The Funds seek to achieve 300%, or 300% of the inverse, of the daily performance of the S&P 500® High Beta Index and Dow Jones Internet Composite Index.
The S&P 500® High Beta Index provides concentrated exposure to 100 stocks in the S&P 500 Index with the highest sensitivity, or beta, over the last 12 months, which may lead to magnified market movements. The Dow Jones Internet Composite Index tracks the performance of the 40 largest and most actively traded stocks of U.S. internet technology and commerce companies offering a broad selection of internet companies not based on traditional GICS sector definitions.
|Fund||Symbol||CUSIP||Benchmark||Gross Expense Ratio||Net Expense Ratio*|
|Direxion Daily S&P 500® High Beta Bull 3X Shares||HIBL||25460E349||S&P 500® High Beta Index||1.14%||1.12%|
|Direxion Daily S&P 500® High Beta Bear 3X Shares||HIBS||25460E331||S&P 500® High Beta Index||1.09%||1.07%|
|Direxion Daily Dow Jones Internet Bull 3X Shares||WEBL||25460E364||Dow Jones Internet Composite Index||1.19%||1.17%|
|Direxion Daily Dow Jones Internet Bear 3X Shares||WEBS||25460E356||Dow Jones Internet Composite Index||1.09%||1.07%|
“We’re very excited to offer traders leveraged exposure to these two indexes to express bullish or bearish positions,” said Dave Mazza, Managing Director at Direxion. “These Leveraged ETFs allow traders to take bold positions in stocks that either have high betas to the market or are focused on the internet industry.”
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.
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, investing in macro themes, or building long-term asset allocation 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 $13.3 billion in assets under management as of
September 30, 2019. For more information, please visit 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 866.476.7523.
The ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily 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 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 direxion.com. The prospectus and summary prospectus should be read carefully before investing.
* The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.95%. The Funds’ adviser, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with each Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse each Fund for Other Expenses through September 1, 2021, to the extent that each Fund’s Total Annual Fund Operating Expenses exceed 0.95% of the Fund’s average daily net assets (excluding, as applicable, among other expenses, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses).
HIBL/HIBS: High Beta Risk— High Beta investing entails investing insecurities that are more sensitive to changes in the market, and thus are more volatile based on historical market index data. Volatile stocks may be subject to sharp swings in value, and may change unpredictably, affecting the value of such equity securities and, consequently, the value of the Funds.
WEBL/WEBS: Internet Company Industry Risk— The market prices of internet securities tend to exhibit a greater degree of market risk and sharp price fluctuations than other types of securities. These companies are subject to rapid changes in technology, worldwide competition, rapid obsolescence of products and services, loss of patent protections, evolving industry standards and frequent new product productions as well as consumer and business purchasing patterns and government regulations.
Direxion Shares Risks - An investment in the ETFs involves risk, including the possible loss of principal. Fund risks include the Effects of Compounding and Market Volatility Risk, Leverage Risk, Counterparty Risk, Intra-Day Investment Risk, Daily Index Correlation/Tracking Risk. 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.