Leveraged Direxion, and ProShares ETFs, and MAX ETNs, target multiple leveraged returns of their benchmark indices (Dow Jones U.S. Select Aerospace & Defense Index , Dow Jones Transportation Average & Industrial Select Sector Index for Direxion - Dow Jones U.S. Industrials Index for ProShares and Prime Auto Industry Index for MAX), for a single day
Specialized funds, tracking sub-industries such as Aerospace, Buiding & Construction or Transportation, may help identify diverging trends in the broadly defined Industrials sector
Because the funds are tracking the performance of the underlying assets over the very short term (adjusted daily), significant break-out trends of specific industries will be highlighted by selecting short time frames (top right menu box) for 1 month (or even down to 2 weeks)
Momentum signals trends of the last 5 days against a 20-day average
The funds and the ETN magnify the short term perspective and are not expected to provide returns with the title multiplier for periods greater than a day
Vanguard Industrials ETF