Direxion Daily Energy Bull 2X ETF (ERX)
Direxion Daily Energy Bull 2X ETF operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in New York City, NY, US. The stock last traded at $101.99, down 1.82% on the session, giving a market capitalisation of $226.8M. Its beta of -0.03 implies it has historically moved less than the broad market.
The Direxion Daily Energy Bull and Bear 2X ETFs are structured to provide daily investment returns that correspond to twice (200%) the performance of the Energy Select Sector Index, before accounting for fees and other expenses. Specifically, the "Bull" version aims for double the index's positive daily movement, while the "Bear" counterpart targets two times the index's inverse (opposite) daily performance. It's crucial to understand, however, that there is no guarantee these funds will consistently achieve their stated investment objectives.
Direxion Daily Energy Bull 2X ETF is most often compared with the following Financial Services names: