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ETFs

Direxion Daily Global Clean Energy Bull 2X Shares

KLNE
$—
Today’s Change
— (—)

Snapshot
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Inception Date
Jul 29, 2021
Expense Ratio
0.95%
Type
Global Equities
Fund Owner
Direxion Shares
Volume (1m avg. daily)
$39,098
AUM
$3,846,030
Associated Index
S&P Global Clean Energy Index
Inverse/Leveraged
Leveraged (2x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

ICLN
BlackRock Institutional Trust Company N.A. - iShares Global Clean Energy ETF
38.07%
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GOLDMAN FINL SQ TRSRY INST 506
12.37%
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DREYFUS GOVT CASH MAN INS
0.97%
Invest with KLNE

What is KLNE?

The Direxion Daily Global Clean Energy Bull 2X Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the S&P Global Clean Energy Index. The S&P Global Clean Energy Index (SPGTCLNT) is designed to track the performance of companies from developed markets whose economic fortunes are tied to the global clean energy business. The Index has a target constituent count of 100 and is limited to those stocks traded on a developed market exchange that meet or exceed, at the time of inclusion, $300 million in total market capitalization, $100 million in float adjusted market capitalization, and $3 million average daily value traded over a six month period. The Index is rebalanced semiannually.

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ETFs related toKLNE

ETFs correlated to KLNE include ICLN, TAN, CNRG

KLNE
Direxion Shares ETF Trust - Direxion Daily Global Clean Energy Bull 2X Shares
ICLN
BlackRock Institutional Trust Company N.A. - iShares Global Clean Energy ETF
TAN
Invesco Capital Management LLC - Invesco Solar ETF
CNRG
SPDR Series Trust - SPDR S&P Kensho Clean Power ETF
ERTH
Invesco Capital Management LLC - Invesco MSCI Sustainable Future ETF
ACES
ALPS Fund Services - ALPS Clean Energy ETF
QCLN
First Trust Exchange-Traded Fund III - First Trust Nasdaq Clean Edge Green Energy Index Fund
GRID
First Trust Exchange-Traded Fund III - First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund
PBW
Invesco Capital Management LLC - Invesco WilderHill Clean Energy ETF
KOMP
SPDR Series Trust - SPDR S&P Kensho New Economies Composite ETF
QQQJ
Invesco Exchange-Traded Fund Trust II - Invesco NASDAQ Next Gen 100 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.

FAQ

KLNE is a Global Equities ETF. The Direxion Daily Global Clean Energy Bull 2X Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the S&P Global Clean Energy Index. The S&P Global Clean Energy Index (SPGTCLNT) is designed to track the performance of companies from developed markets whose economic fortunes are tied to the global clean energy business. The Index has a target constituent count of 100 and is limited to those stocks traded on a developed market exchange that meet or exceed, at the time of inclusion, $300 million in total market capitalization, $100 million in float adjusted market capitalization, and $3 million average daily value traded over a six month period. The Index is rebalanced semiannually.

KLNE tracks the S&P Global Clean Energy Index.

No, KLNE 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, KLNE 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 KLNE is -0.1231%. This is the percent change in the value of KLNE over the most recent 1-month period. The 3-month return on KLNE is -0.3133%. This is the percent change in the value of KLNE over the most recent 3-month period.

The standard deviation of KLNE for the past year is 0.4888%. 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 KLNE include SSO, TNA, and QID.

ETFs correlated to KLNE include ICLN, TAN, and CNRG.

ETFs that are inversely correlated to KLNE include EPV, SRTY, and RWM.

Yes, KLNE is a Leveraged (2x) ETF: This means that KLNE will try to match the performance of S&P Global Clean Energy Index, but with 2x the returns.

No, KLNE is not an inverse ETF.

Disclaimers

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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.

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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.

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