Direxion Daily Emrg Mkts Bull 3X Shares., EDC - Emerging Markets Index Fund one of the largest ETFs

Rochester,NY 8/03/2009 07:10 PM GMT (TransWorldNews)

Emerging Markets Index Fund, one of the largest ETFs with more than $30 billion in assets, rose 11% for the month ended July 31.


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The emerging markets ETF's rise last month outpaced the 7.4% gain for the SPDR S&P 500 ETF on hopes the global recession is easing. An ETF that uses 300% daily leverage, Direxion Daily Emerging Markets Bull, rose by more than 30% in July and has more than doubled so far this year.

Emerging markets have been outperforming U.S. stocks since the March lows, but they fell harder during the crash. The iShares MSCI Emerging Markets Index Fund saw its value cut nearly in half in 2008. Shares of the ETF closed July at $35.78 and were up more than 44% for the year-to-date period, according to Morningstar. The emerging markets fund ended the month at its highest closing price since September 2008 when Lehman Brothers filed for bankruptcy and triggered a full-blown credit crisis.

 

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