NEW YORK, July 29, 2021 /PRNewswire/ — Direxion launched the Direxion Daily Global Clean Energy Bull 2X Shares (Ticker: KLNE). The Fund seeks to achieve 200% of the daily performance of the S&P Global Clean Energy Index.
The S&P Global Clean Energy Index provides exposure to companies from developed markets whose economic fortunes are tied to the global clean energy business. As of May 31, 2021, the index consisted of 81 constituents, which had a median total market capitalization of $11.2 billion, total market capitalizations ranging from $320 million to $143.5 billion and were concentrated in the utilities, industrials and information technology sectors.
|Fund||Symbol||CUSIP||Benchmark||Gross ExpenseRatio||Net Expense|
|Direxion Daily Global Clean Energy Bull 2X Shares||KLNE||25460G526||S&P Global Clean Energy Index||1.09%||1.07%|
* The Advisor has contractually agreed to waive a portion or all of its management fee and/or reimburse the Fund for other expenses through September 1, 2022.
“While the long-term trend toward more sustainable energy sources continues to increase, stocks in this sector are likely to remain volatile as macro drivers impact moves in the short-term,” said David Mazza, Managing Director, Head of Product at Direxion. “KLNE allows traders to take a bold position in companies exposed to solar, wind and other renewable energy sources.”
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, 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 $26.6 billion in assets under management as of June 30, 2021. 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.
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.