Direxion launches 2x SK Hynix leveraged ETF

Direxion launched the Direxion Daily SK Hynix Bull 2X ETF (SKHL) on July 15. The fund seeks to deliver two times the daily performance of SK Hynix and charges an expense ratio of 97 basis points.

The ETF uses leverage and derivatives to amplify short-term moves in SK Hynix shares. Its 2x objective applies to a single trading day; daily resetting and the compounding of returns can produce results that differ from twice the cumulative return over longer holding periods. The expense ratio covers management and operating costs tied to the leveraged strategy.

SKHL is part of Direxion’s lineup of more than 50 single-stock ETFs, including other 2x leveraged strategies focused on large-cap and high-profile companies.

SK Hynix is a South Korean memory semiconductor maker that supplies high-bandwidth memory (HBM), DRAM and NAND flash to major technology companies such as Nvidia, Apple and Microsoft. The company completed a U.S. American Depositary Receipt offering in July and began trading on Nasdaq under the ticker SKHY after an initial conditional trading period under SKHYV. The listing raised $26.5 billion and opened at $170 per share.

Shares of SK Hynix showed notable volatility around the Nasdaq debut, with large intraday moves in both South Korean and U.S. trading as investors adjusted positions. On the Korea Exchange, the company reported a 12‑month return of about 634% and a year‑to‑date gain near 235%.

In its most recent quarter, SK Hynix reported roughly $34.5 billion in revenue, up 198% year over year, and an operating margin near 72%.

The fund is aimed at traders and investors seeking short-term directional exposure to SK Hynix and to demand trends for memory chips used in data centers, AI accelerators and consumer devices. Leveraged single-stock ETFs use swaps, futures and other derivatives; those instruments and the concentrated nature of a single-stock fund can increase volatility and tracking differences compared with holding the underlying equity.