Direxion Investments begun trading the Direxion 2x Daily CSI 300 China A Share ETF (NYSEArca: CHAU) on Thursday, April 16, 2015.
Here is a synopsis of the new ETF:
|Symbol: CHAU||Exchange: NYSE Arca|
|Name: Direxion Daily CSI 300 China A Share Bull 2x Shares||Net Expense Ratio: 0.95%|
The Direxion Daily CSI 300 China A Share Bull 2x Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the CSI 300 Index.
The CSI 300 Index is a modified free-float market capitalization weighted index comprised of the largest and most liquid stocks in the Chinese A-share market.
Index constituent stocks must have been listed for more than 3 months (unless the stock’s average daily A-share market capitalization since its initial listing ranks among the top 30 of all A-shares) and must not be experiencing obvious abnormal fluctuations or market manipulations. As of December 31, 2014, the Index included 300 securities of companies with a market capitalization range of approximately $1.7 billion to $305 billion and an average market capitalization of $14.2 billion. As of December 31, 2014, the Index was concentrated in the financial industry.
Index Top Components (04/16/15):
|Ping An Insurance Group Co of China Ltd||4.18%|
|China Merchants Bank Co Ltd||2.67%|
|China Minsheng Banking Corp Ltd||2.66%|
|CITIC Securities Co Ltd||2.62%|
|Industrial Bank Co Ltd||2.22%|
|Haitong Securities Co Ltd||2.06%|
|Shanghai Pudong Development Bank Co Ltd||1.90%|
|China Vanke Co Ltd||1.31%|
|China State Construction Engineering Cor||1.09%|
|CSR Corp Ltd||1.08%|
Index Sector Weightings (04/16/15):
CHAU Home Page
CHAU is the 1st 2x leveraged ETF tied to China A-shares listed in the U.S.
As Brian Jacobs, President of Direxion Investments said ”CHAU provides an unprecedented opportunity for experienced traders to magnify their exposure to mainland Chinese stocks”. China A-shares, which trade on the Shanghai and Shenzhen Stock Exchanges, account for roughly two-thirds of the market capitalization of Chinese stocks.