Intercontinental Exchange (ICE) said this week that its indices will underpin four new leveraged and inverse exchange-traded funds launched in Canada by Global X Investments Canada Inc.
Global X Taps ICE Indices for New Leveraged and Inverse ETFs in Canada
The products, branded as BetaPro ETFs, offer Canadian investors triple leveraged (300%) and triple inverse (-300%) daily exposure to two key U.S. market segments: long-dated U.S. Treasuries and semiconductors.
The BetaPro 3X US Treasury 20+ Year Daily Leveraged Bull Alternative ETF (TTLT) and the BetaPro -3X US Treasury 20+ Year Daily Leveraged Bear Alternative ETF (STLT) track the ICE U.S. Treasury 20+ Year Bond Index.
The benchmark measures sovereign debt issued in U.S. dollars by the U.S. government.
Meanwhile, the BetaPro 3X Semiconductor Daily Leveraged Bull Alternative ETF (SOXL) and the BetaPro -3X Semiconductor Daily Leveraged Bear Alternative ETF (SOXS) are said to be tied to the NYSE Semiconductor Index, which captures the 30 largest U.S.-listed semiconductor companies by market capitalisation.
Chris McHaney, Executive Vice President, Investment Management & Strategy at Global X, said: “We are excited to work with ICE indices for the benchmarks underlying Canada’s latest 3X leveraged and inverse ETFs.
“With a built-in currency hedge to help neutralise U.S. dollar movements, our BetaPro 3X and -3X ETFs can offer Canadian investors a more refined tool for dynamic trading and portfolio diversification.”
Preston Peacock, Head of ICE Data Indices, added: “We’re pleased to work with Global X on these new ETFs, which span multiple asset classes and provide Canadian investors with tools to gain or manage exposure to U.S. market dynamics.”
ICE said more than $2 trillion in assets are benchmarked to its indices globally.
