The Direxion Daily Financial Bear 3X Shares ETF (FAZ) are the bearish part of the Direxion Daily Financial Bull and Bear 3x Shares ETF, a fund that aims to replicate with 3x leverage the daily reverse yields of the Russell 1000 index. The FAZ follows the daily investment results, gross of commissions and expenses, of 300% of the inverse (or opposite) price performance of the Russell 1000 Financial Services Index. With respect to the Russell 1000 Index, this measures the performance of securities included in the large cap financial services sector issued by companies listed on the US stock market. These ETFs have several advantages such as the possibility of obtaining economic results very quickly due to the leverage (3x), the possibility of pointing upwards or downwards, the great liquidity and therefore the speed of trading.
The fund invests in various sectors such as banks, diversified financial services, real estate investments, financial systems and data, asset management and custody, brokers, consumer loans, etc.. The Direxion Daily FAZ ETF invests 80% of its net assets in futures contracts, equity caps, collars and floors, swaps, futures contracts, short-term positions, ETFs or other financial instruments. The fund’s adviser is Rafferty Asset Management, LLC.
You can use the Plus500 platform to trade FAZ ETFs.