This year’s success of ProShares’ leveraged ETFs has not gone unnoticed. A challenge was mounted this week by Rafferty Asset Management which has introduced a line of 8 long and short ETFs that are leveraged 3 to 1.
The Direxion Shares ETFs will see seek 300% of daily performance or 300% of the inverse of daily performance of four Russell benchmark indexes.
The new ETFs and respective indexes are:
Russell 1000 Index
Russell 1000 Energy Index
Russell 1000 Financial Index