Pass on these ETFs

Article Excerpt

The U.S.-based investment manager AXS Investments recently launched eight new exchange-traded funds that offer long or short positions in single stocks. Here are some examples of the stocks targeted by the ETFs. The AXS TSLA Bear Daily ETF (Nasdaq symbol TSLQ) offers daily returns that correspond to the inverse of the daily gains or losses of Tesla shares. The AXS 1.5x Bull Daily ETF (Nasdaq symbol PYPT) aims to achieve 1.5 times the daily returns of the shares of PayPal Holdings. The AXS 2x NKE Bull Daily ETF (Nasdaq symbol NKEL) seeks daily returns 2 times the daily returns of the shares of Nike. The 2x PFE Bull Daily ETF (Nasdaq symbol PFEL) targets 2 times the daily return of the common shares of Pfizer. There are also ETFs that offer short positions on Nvidia, PayPal, Nike, and Pfizer. The ETFs listed on July 14, 2022, and their MERs are 1.15% (1.57% after July 31, 2023). As a general rule, we advise against market timing, much like we advise against short selling, options trading, leverage, currency speculation and bond…

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