Direxion World Without Waste ETF (NYSE:WWOW).
What Happened
WWOW debuted last week and tracks the Indxx US Circular Economy Index. One of the guiding principles of the fund is the broader economy s shift away from the old “take-make-consume-waste” way of doing things.
The new WWOW “provides exposure to 50 companies, across five sub-themes, which are representative of the transformative shift from linear to circular economic models. The circular economy framework is one that is regenerative, restorative, and focused on systematic resourcefulness,” according to Direxion.
Why It s Important
WWOW isn t a recycling exchange traded. Rather, the new fund focuses on the following sub-themes: Sustainability of Resources, Sharing Platforms, Resource Recovery, Product as a Service, and Life Cycle Extension.
What Happened
As billions of dollars flow into ETFs emphasizing some variety of virtuous investing, the funds themselves are becoming more nuanced and refined.
One of the areas where ETF sponsors can effectively appeal to investors while limiting controversy is by focusing on the “E” – environment – in ESG. However, this space is ripe for refreshing. Enter the
Direxion World Without Waste ETF (NYSE:WWOW), which debuted last week.
Why It s Important
WWOW, which tracks the Indxx US Circular Economy Index, is part of a broad batch of new, non-leveraged ETFs introduced by Direxion this year, is the issuer s second product with an ESG feel. The