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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Direxion Launches New 2X Leveraged Cloud Computing ETFs

January 8, 2021 GMT

NEW YORK, Jan. 8, 2021 /PRNewswire/ -- Direxion launched the Daily Cloud Computing Bull and Bear 2X Shares ETFs (Tickers: CLDL/CLDS). The Funds seek to achieve 200%, or 200% of the inverse, of the daily performance of the Indxx USA Cloud Computing Index.

The Indxx USA Cloud Computing Index provides exposure to domestic companies that deliver cloud computing infrastructure, platforms, or services. The companies included in the Index are involved in the delivery of computing services – servers, storage, databases, networking, software, analytics, and more, over the internet, which is often referred to as the “Cloud.”

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Fund

Symbol

CUSIP

Benchmark

Gross Expense
Ratio

Net Expense Ratio*

Daily Cloud Computing Bull 2X Shares

CLDL

25460G625

Indxx Cloud Computing Index

0.95%

0.95%

Daily Cloud Computing Bear 2X Shares

CLDS

25460G633

Indxx Cloud Computing Index

0.95%

0.95%

“Cloud computing has proven to be one of the most successful trading themes of 2020. We’re very excited to offer traders leveraged exposure to express bullish or bearish positions on this high growth industry,” said Dave Mazza, Managing Director at Direxion. “These Leveraged ETFs allow traders to take a bold position in stocks that are critical as the virtual computing world expands exponentially.”

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 $19.7 billion in assets under management as of December 31, 2020. 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.

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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.

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