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ETFs

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares

EVAV
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Aug 11 2022
Expense Ratio
0.95%
Type
US Equities
Fund Owner
Direxion Shares
Volume (1m avg. daily)
$268,029
AUM
$9,521,627
Associated Index
Indxx US Electric and Autonomous Vehicles Index
Inverse/Leveraged
Leveraged (2x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

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Invest with EVAV

What is EVAV?

The Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares seeks daily investment results before fees and expenses of 200 of the performance of the Indxx US Electric and Autonomous Vehicles Index The Indxx US Electric and Autonomous Vehicles Index IUEAV is designed to track the performance of electric and autonomous vehicles companies The Index Provider defines electric and autonomous vehicles companies as those companies that derive at least 50 of their revenues from the following activities or subthemes: Manufacturers companies that manufacture and sell electric or autonomous vehicles Enablers companies that build infrastructure or create technology for electric or autonomous vehicles such as charging docks and batteries and Software and Technology Services companies that engage in the development of software and technology for electric or autonomous vehicles.

ETFs related toEVAV

ETFs correlated to EVAV include IDRV, PBW, ARKK

EVAV
Direxion Shares ETF Trust - Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares
IDRV
iShares Trust - iShares Self-Driving EV and Tech ETF
PBW
Invesco Capital Management LLC - Invesco WilderHill Clean Energy ETF
ARKK
ARK Investment Management LLC - ARK Innovation ETF
TARK
Investment Managers Series Trust II - AXS 2X Innovation ETF
IPO
Renaissance Capital Greenwich Funds - Renaissance IPO ETF
IBUY
Amplify ETF Trust - Amplify Online Retail ETF
ERTH
Invesco Capital Management LLC - Invesco MSCI Sustainable Future ETF
ARKQ
ARK Investment Management LLC - ARK Autonomous Technology & Robotics ETF
ARKW
ARK Investment Management LLC - ARK Next Generation Internet ETF
KOMP
SPDR Series Trust - SPDR S&P Kensho New Economies Composite ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toEVAV

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with EVAV using Composer

FAQ

EVAV is a US Equities ETF. The Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares seeks daily investment results before fees and expenses of 200 of the performance of the Indxx US Electric and Autonomous Vehicles Index The Indxx US Electric and Autonomous Vehicles Index IUEAV is designed to track the performance of electric and autonomous vehicles companies The Index Provider defines electric and autonomous vehicles companies as those companies that derive at least 50 of their revenues from the following activities or subthemes: Manufacturers companies that manufacture and sell electric or autonomous vehicles Enablers companies that build infrastructure or create technology for electric or autonomous vehicles such as charging docks and batteries and Software and Technology Services companies that engage in the development of software and technology for electric or autonomous vehicles.

EVAV tracks the Indxx US Electric and Autonomous Vehicles Index.

No, EVAV is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, EVAV is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on EVAV is -0.1527%. This is the percent change in the value of EVAV over the most recent 1-month period. The 3-month return on EVAV is 0.0953%. This is the percent change in the value of EVAV over the most recent 3-month period.

The standard deviation of EVAV for the past year is 0.9914%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to EVAV include SSO, QID, and SDS.

ETFs correlated to EVAV include IDRV, PBW, and ARKK.

ETFs that are inversely correlated to EVAV include SARK, HIBS, and BTAL.

Yes, EVAV is a Leveraged (2x) ETF: This means that EVAV will try to match the performance of Indxx US Electric and Autonomous Vehicles Index, but with 2x the returns.

Yes, EVAV is a Leveraged (2x) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of Indxx US Electric and Autonomous Vehicles Index, but move 2x in the opposite direction.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.