Direxion Daily CSI China Internet Index Bull 2X ETF
CWEB
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1301 Avenue of the Americas, 28th Floor New York City NY United States of America 10019
- IPO Date
- Nov 10, 2016
- CIK
- 0001424958
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Daily CSI China Internet Bull 2X Shares (CWEB) is a leveraged exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 200% of the performance of the CSI Overseas China Internet Index, which tracks the investable universe of publicly traded China-based internet and internet-related companies listed outside mainland China, including Hong Kong; top holdings in the underlying index include Tencent Holdings (9.91%), Alibaba Group (8.59%), PDD Holdings (7.36%), Meituan (6.89%), and JD.com (5.85%), with major sector weightings in interactive media & services (27.67%), broadline retail (24.76%), and restaurants (6.89%). The fund, part of the Direxion Shares ETF Trust and advised by Rafferty Asset Management, LLC, employs derivatives such as swaps and futures—including significant exposure to the KraneShares CSI China Internet ETF (KWEB) at approximately 49.5% of assets, cash management instruments, and collateral positions—to achieve its leveraged objectives, with a net expense ratio of 1.25% (subject to an operating expense limitation agreement through September 1, 2026, capping certain expenses at 0.95%). Launched on November 2, 2016, and listed on NYSE Arca, CWEB targets sophisticated investors comfortable with high volatility and daily leverage risks, serving traders focused on amplified short-term exposure to Chinese internet equities amid varying U.S.-China trade and geopolitical dynamics. Direxion Investments, the ETF issuer founded in 1997 and headquartered in New York with additional offices in Boston, Milwaukee, and Hong Kong, operates within the leveraged and inverse ETF segment, managing approximately $48.6 billion in assets as of September 30, 2024, and offers a broad suite of daily leveraged (up to 3X) and inverse products across sectors, single stocks, and themes. Recent major developments for Direxion include the appointment of Mo Sparks as Chief Product Officer in April 2025 to bolster product strategy, the launch of multiple single-stock leveraged and inverse ETFs such as those tied to Boeing (BA), Exxon Mobil (XOM), Broadcom, and Micron Technologies in 2024-2025 to expand its semiconductor and thematic offerings, a strategic partnership with SS&C ALPS Distributors in September 2024 for enhanced medallion distribution, FINRA compliance, and registered fund services across ETFs and mutual funds, and the liquidation of three underperforming ETFs announced in October 2025 due to insufficient assets. CWEB itself maintains ongoing operational stability, with recent quarterly distributions (e.g., $1.08405 income dividend on December 23, 2024) and a new ETF alert service introduced in January 2024 for price and volume notifications, amid assets under management of approximately $370 million and heightened trader interest from U.S.-China trade developments in 2025.