Direxion, begun trading a new European Financials Bear 1x ETF, the Direxion Daily European Financials Bear 1x Shares (NYSE Arca: EUFS), on Wednesday, August 10, 2016. Here is a synopsis of the new ETF:
FUND INFORMATION:
| Symbol: EUFS | Exchange: NYSE ARCA |
| Name: Direxion Daily European Financials Bear 1x Shares | Net Expense Ratio: 0.47% |
FUND OBJECTIVE:
The Direxion Daily European Financials Bear 1x Shares seeks daily investment results, before fees and expenses, of 100% of the inverse of the performance of the MSCI Europe Financials Index.
REFERENCE INDEX:
The MSCI Europe Financials Index is provided by MSCI Inc. (Index Provider). The Index is a free float-adjusted, market capitalization-weighted index and represents securities of large-capitalization and mid-capitalization companies across developed market countries in Europe. All component securities in the Index are classified in the financials sector per the Global Industry Classification Standard (GICS).
As of March 31, 2016, the Index consisted of the following 15 developed market countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK.
As of March 31, 2016 the Index consisted of 98 constituents with an average market capitalization of approximately $16.04 billion and market capitalizations ranging from $1.6 billion to $122.1 billion. As of March 31, 2016, components of the Index were concentrated in the financials sector.
Index Top Holdings (06/30/16):
| HSBC Holdings PLC | 8.91% |
| Allianz SE | 4.47% |
| Banco Santander SA | 4.23% |
| BNP Paribas SA | 3.50% |
| UBS Group AG | 3.38% |
| Lloyds Banking Group PLC | 3.31% |
| Prudential PLC | 3.13% |
| ING Groep NV | 2.95% |
| AXA SA | 2.70% |
| Banco Bilbao Vizcaya Argentari | 2.61% |
Top Index Country Weightings (06/30/16):
| Britain | 30.92% |
| France | 13.06% |
| Switzerland | 12.09% |
| Germany | 11.84% |
| Spain | 8.86% |
| Sweden | 7.00% |
| Italy | 5.05% |
| Netherlands | 4.33% |
| Belgium | 1.83% |
| Denmark | 1.45% |
Useful Links:
EUFS Home Page
Category: Equities> Regions> Europe> Broad Europe> European Sectors
ETFtrack comment:
Here is a comment from Sylvia Jablonski, Managing Director at Direxion:
“Our new European Financials Bear ETF will complement our recently launched leveraged ETF tracking that space, giving traders another option for taking advantage of short-term opportunities. We think EUFS is coming to market at the right time as European banks face the challenges of troubling stress tests, risks associated with contagion, and the aftermath of Brexit.”