Direxion Planning Big India ETF Foray

Direxion, the eleventh-largest U.S. ETF issuer, has filed plans with the SEC to introduce nine new India-specific ETFs, which would double the number of ETFs tracking the world's second-fastest growing major economy if they all come to market. Direxion plans to introduce the IndiaShares ETFs, which include the following funds: IndiaShares Fixed Income Shares IndiaShares Mid & Small Cap Shares IndiaShares Consumer Shares IndiaShares Energy & Utility Shares IndiaShares Financial Shares IndiaShares Industrial Shares IndiaShares Infrastructure Shares IndiaShares Materials Shares IndiaShares Technology & Telecommunication Shares Direxion, more known for its leveraged and inverse offerings, currently issues two India-specific ETFs: The Direxion Daily India 2X Bear Shares

and the Direxion Daily India 2X Bull Shares

. The IndiaShares offerings would significantly expand Direxion's non-leveraged lineup, which currently includes only one ETF: The Direxion Airline Shares

. There are currently 43 ETFs offering some exposure to India, the lowest amount of the four BRIC nations, but if the nine Direxion funds are introduced, there would be 52 ETFs offering exposure to India, topping the 47 that offer Russia exposure. Sixty-nine ETFs offer exposure to Brazil and nearly 160 offer exposure to China. Direxion had 42 ETFs with almost $6.5 billion in assets under management at the end of April.