3x, -3x Gold Miner ETNs Debut

3x, -3x Gold Miner ETNs Debut

The new ETNs from REX Microsectors offer 300% and -300% exposure to the gold miners space.

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Reviewed by: Heather Bell
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Edited by: Heather Bell

REX Shares added another pair of ETNs to its lineup today, both of which are tied to the gold miners space. The MicroSectors Gold Miners 3x Leveraged ETN (GDXU) and MicroSectors Gold Miners -3x Inverse Leveraged ETN (GDXD) offer 300% and -300% exposure on a daily reset to the S-Network MicroSectors Gold Miners Index.

The products come with expense ratios of 0.95% and list on the NYSE Arca.

The underlying index for both products is an interesting one as it tracks the performance of two of the most popular gold miners ETFs, the $15.3 billion VanEck Vectors Gold Miners ETF (GDX) and the $5.6 billion VanEck Vectors Junior Gold Miners ETF (GDXJ). Both of the ETNs are backed by the Bank of Montreal.

The two ETNs join 18 other REX Microsector ETNs that have combined assets under management of $1.7 billion.

Contact Heather Bell at [email protected]

 

Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.