Direxion Could Add Unleveraged Bank ETF

ETFtrends.com

Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, has filed plans to possibly introduce the Direxion Financial Bull 1X Shares ETF.

The Direxion Financial Bull 1X Shares ETF would be the unleveraged version of one of the more popular leveraged ETFs, the Direxion Daily Financial Bull 3X Shares (FAS) . Like FAS, the Direxion Financial Bull 1X Shares ETF will track the Russell 1000 Financial Services Index.

Stocks residing in that index include Bank of America (BAC), Citigroup (NYSE: C), J.P. Morgan Chase (JPM) and Goldman Sachs (GS). [Spotlight on Leveraged Bank ETFs]

Massachusetts-based Direxion did not disclose a launch date for the Financial Bull 1X Shares ETF, but the fund, if it comes to market, will charge 0.65% per year, according to Index Universe.

In other planned ETF news, Horizons, the company behind the Horizons S&P 500 Covered Call ETF (HSPX) and the Horizons Financial Select Sector Covered Call ETF (HFIN) , could expand its income-oriented lineup with the addition of up to three new ETFs.

Those funds will include the China High Dividend Yield ETF and the Horizons KOSPI 200 ETF, which would be the first dividend spin on South Korean stocks, a group not usually known for high yields. Horizons could also list a Canadian income play, the Horizons S&P/TSX 60 ETF.

Over 140 new ETFs have debuted this year, but just two have come to market this month, the SPDR MSCI EM Beyond BRIC ETF (EMBB) and the Cambria Foreign Shareholder Yield ETF (FYLD) .

ETF Trends editorial team contributed to this post.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.