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Chandrima Sanyal

ZYN: A New ETF Trading On Smoke, Strategy

Zyn ETF Defiance Philip Morris Defiance ETFs Philip Morris International Philip Morris International Inc Tobacco United States

June,29,,2020,,Brazil.,In,This,Photo,Illustration,The,Philip

Defiance ETFs launched a new leveraged fund on Thursday, designed to be used by investors seeking to increase their exposure to one of the largest tobacco firms in the world. The Defiance Daily Target 2X Long PM ETF (NASDAQ:ZYN) has been designed to provide twice the daily performance of Philip Morris International Inc. (NYSE:PM).

Launched side-by-side as another single-stock leveraged fund — the Defiance Daily Target 2X Long ANET ETF (NASDAQ:ANEL) — this ETF is structured to deliver 200% of Philip Morris’ daily performance, pre-expenses and fees. In order to do so, ZYN employs derivatives like swaps and options, providing what Defiance refers to as “exact, amplified exposure” without the need for a margin account.

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