Direxion To Introduce First Leveraged Russia ETFs

Direxion, the ETF issuer most known for its array of inverse and leveraged ETFs, will add to that lineup on Wednesday May 25 with the introduction of the Direxion Daily Russia Bull 3x Shares ETF RUSL and the Direxion Daily Russia Bear 3x Shares ETF RUSS. RUSL and RUSS, which will both have expense ratios of 0.95%, will be the first leveraged plays on Russia, the “R” in the BRIC quartet. The ETFs seek DAILY investment results, before fees and expenses, of 300% of the price performance of the DAX Global Russia Index or 300% of the inverse of the DAILY price performance of the index. As is the case with other Russia ETFs, the Dax Global Russia Index is biased toward the energy sector. Direxion currently issues 42 ETFs, but just one, the Direxion Airline Shares FLYX, is not leveraged. RUSL and RUSS will give Direxion its eleventh and twelfth emerging markets ETFs. The firm currently has triple leveraged bull and bear plays on China and double leveraged bull and bear plays on India among its emerging markets lineup. Earlier this month, Direxion filed plans to introduce nine new India-specific ETFs. The firm had almost $6.5 billion in assets under management at the end of April.