The Direxion Financial Bear 3X ETF (FAZ) is currently waving management fees that exceed 0.95% until March 1, 2011. The investment strategy of this ETF is to seek daily investment results from the inverse of the price performance of the Russell 1000 Financial Services Index. This index has 227 different companies in it.
The sector weight of this index are Banks with 25.95%, Diversifies Financial Services with 23.84%, Insurance 17.98%, REIT’s with 11.59%, Financial Data & Systems at 9.67%, Asset Management at 6.02%, Securities at 3.95%, Real Estate at 0.57% and Consumer Lending 0.42%.
The performance of this fund at one month is -23.63%, three month at -30.84% and YTD at -30.93%. The one year performance was -93.43%.
The average daily volume of shares being traded is at 55.7 million. The 52 week price range of the stock is a low of $10.78 and a high of $83.60. The price as of May 5, 2010 was $12.52.
When ETF investing, watching which way the market is going should be done. This ETF and making a profit from it is solely dependent on this index losing money. Since May of 2009 this index has gradually increased in value in a roller coaster fashion. 30 and 50 point dips have been record during this upswing in prices so short term profits have occurred but very inconsistently.
To make money with this investment will take very close watching of the index and this ETF. This Direxion Financial Bear 3X ETF (FAZ) is a very risky investment.
For additional resources about ETF on this website, please view Investing in Investing in Russia ETFs.
If you would like other investing news from Vanguards then please try Fidelity Value Mutual Fund on our sister site mutualfundexplorer.com or Vanguard Dividend Appreciation ETF (VIG) Review on bestmutualfundsnow.com for other investing news.
We strive to bring you the latest and most accurate data possible from the home sites of the investment institutions we name. Always remember the bigger the risk, the larger the reward or loss. Invest with caution.
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