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Direxion Turns Out New Real Estate ETFs
By Tom Lydon on July 18, 2009 | More Posts By Tom Lydon | Author's Website
Direxion has just added more leverage to their fast-growing and diverse lineup, this time with a pair of exchange traded funds (ETFs) that target the real estate market.
The new ETFs are deliver triple leverage, or 300% of the daily performance (plus or minus), of the MSCI U.S. REIT Index. The latest additions mean there’s a total of 22 funds in the DirexionShares family.
The new funds are:
- Direxion Daily Real Estate Bull 3x Shares (DRN)
- Direxion Daily Real Estate Bear 3x Shares (DRV)
Both funds will charge an expense ratio of 0.95%. They may seem similar to the newly launched MacroShares funds, but there are at least two big differences:
1. The MacroShares funds are trusts - investor money is put into Treasury securities and other cash holdings; assets are shifted to mirror changes in the S&P/Case-Shiller Composite 10 Home Price Index.
2. The Direxion funds seek to provide leverage on an index of REITs; they are not tracking home prices.
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