Market Overview

Five ETFs Up on a Down Day

On Monday, the markets were broadly down as fears about the debt crisis in Europe and concern about the slowing economy in China led traders to take a cautious stance. Still, the following ETFs ended in the green:

iPath Short Enhanced MSCI EAFE ETN (NYSE: MFSA) jumped more than 22 percent. The share price is down more than 4 percent year to date, but more than 46 percent higher than a year ago. The investment seeks to replicate the leveraged return on the inverse performance of the MSCI EAFE Net Total Return index, which is a free float-adjusted market capitalization index that is designed to offer a representation of equity market performance of developed markets in Europe, Australasia and the Far East.

VelocityShares Daily 2x VIX Short-Term ETN (NYSE: TVIX) was more than 13 percent higher Monday, despite being down more than 85 percent over the past year. The share price is only about $0.75 above the all-time low. The investment seeks to replicate twice the daily performance of the S&P 500 VIX Short-Term Futures index. The index was designed to provide investors with exposure to one or more maturities of futures contracts on the VIX, which reflects implied volatility of the S&P 500 index at various points along the volatility forward curve.

See also: Best and Worst ETFs: Mid-Cap Value

ProShares Ultra VIX Short-Term Future ETF (NYSE: UVXY) was more than 13 percent higher Monday. The share price is more than 85 percent lower year-over-year. The investment seeks to replicate twice the return of the S&P 500 VIX Short-Term Futures index for a single day. The index measures the movements of a combination of VIX futures and is designed to track changes in the expectation for one month in the future. It is a commonly followed measure of the expected volatility of the S&P 500 over the next 30 days.

Direxion Daily Russia Bear 3X Shares (NYSE: RUSS) rose more than 13 percent. The share price is down about 12 percent year-to-date, but more than 6 percent higher than a year ago. The investment seeks daily investment results of 300% of the inverse of the performance of the Market Vectors Russia Index. The nondiversified fund usually creates short positions by investing at least 80% of its net assets in financial instruments that provide leveraged and unleveraged exposure to the index.

See also: Best and Worst ETFs: Small-Cap Value

Direxion Daily BRIC Bear 3X Shares (NYSE: BRIS) moved more than 11 percent higher. It was also up more than 11 percent year-to-date. The investment seeks daily investment results of 300% of the inverse of the performance of the BNY BRIC Select ADR Index. The nondiversified fund usually creates short positions by investing at least 80% of its net assets in financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The index tracks the performance of depositary receipts that are listed for trading on the NYSE, NYSE Amex and Nasdaq of companies from Brazil, Russia, India and China.

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