Direxion Adds 5 New Funds to the Family

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SAN DIEGO (ETFguide.com) - Direxion announced the addition of five leveraged and inverse exchange-traded funds to their existing lineup.Four of the five new funds track S&P Select Sector Indexes and seek 300% of the daily performance or 300% of the inverse of the daily performance of their corresponding Index.'We understand that market direction matters, so we strive to offer an alternative to static investment strategies while delivering exposure to the various markets in which investors have high levels of interest, such as basic materials and healthcare,' said Direxion President Dan O'Neill.The new funds, along with their corresponding tickers are:--The Direxion Daily Basic Materials Bull 3x Shares (NYSEArca: MATL - News)--The Direxion Daily Basic Materials Bear 3x Shares (NYSEArca: MATS - News)--The Direxion Daily Healthcare Bull 3x Shares (NYSEArca: CURE - News)--The Direxion Daily Healthcare Bear 3x Shares (NYSEArca: SICK - News)--The Direxion Daily Total Market Bear 1x Shares (NYSEArca: TOTS - News)MATL aims for triple the daily performance of the S&P Materials Select Sector Index. The Index includes companies from within the S&P 500 that are involved in the industries of metals and mining, paper and forest products, containers and packaging, construction materials and chemicals.MATS aims for triple the inverse of the daily performance of the same Index. The annual expense ratio for both funds is 0.95%.CURE aims for triple the daily performance of the S&P Healthcare Select Sector Index. The Index includes companies from within the S&P 500 that are involved in the industries of pharmaceuticals; health care providers & services; health care equipment & supplies; biotechnology; life sciences tools & services; and health care technology.SICK aims for triple the inverse of the daily performance of the same Index. The annual expense ratio for both funds is 0.95%.TOTS aims for 100% of the inverse of the performance of the MSCI US Broad Market Index. Direxion announced that the fund was designed to offer investors a way to hedge against the adverse movements in the broad markets at a lower leverage point.' The annual expense ratio for TOTS is 0.65%.In Other ETF News:iShares launched their first floating rate note fund on Friday. The iShares Floating Rate Note Fund (NYSEArca: FLOT - News) is linked to the Barclays Capital US Floating Rate Note HYS - News). HYS is linked to the BofA Merrill Lynch 0-5 Year High Yield Constrained Index. The Index is a market-cap weighted Index that measures the performance of US dollar denominated, below investment grade, corporate debt securities with less than five years to maturity.The annual expense ratio for HYS is 0.55%. 

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