Direxion launches hydrogen ETF
Direxion has launched the Direxion Hydrogen ETF (HJEN) which will focus on exposure to companies powering the clean hydrogen economy.
HJEN invests in 30 companies in the hydrogen industry leading the way towards net-zero emissions by providing more accessible, efficient and sustainable solutions.
“Hydrogen is the lightest and most abundant element in the universe, and it may be the key to fulfilling the world’s growing energy needs, while fighting climate change,” says David Mazza, Managing Director at Direxion. “With the launch of the Direxion Hydrogen ETF, investors now potentially have diversified exposure to the companies powering today’s dynamic hydrogen economy.”
HJEN seeks investment results, before fees and expenses, which track the Indxx Hydrogen Economy Index. The Indxx Hydrogen Economy Index tracks the performance of 30 companies across the following five hydrogen-related sub-themes:
Hydrogen Production and Generation: Companies involved in the process of hydrogen generation, in either liquid or solid form.
Hydrogen Storage and Supply: Companies engaged in providing storage and transportation services of hydrogen. It also includes companies that supply hydrogen to various users and operate hydrogen fuelling stations across countries.
Fuel Cell and Battery: Companies manufacturing fuel cells and batteries that are run on hydrogen-based technology.
Hydrogen Systems and Solutions: Companies offering equipment, components or technology used in hydrogen industry. Those involved in providing solutions and systems to the value chain across hydrogen generation, storage and supply.
Membrane and Catalyst: Companies that design and produce membrane, filters, catalyst or membrane assemblies for fuel cell, or hydrogen-related, technologies.