TSMC Gets Single-Stock ETF as Direxion Funds Allow Leverage Bets

Direxion Funds has launched two exchange-traded products that focus on a single emerging-market stock — Taiwan Semiconductor Manufacturing Co. — allowing investors to make outsized bullish bets on it or take positions against the direction of the market.

The Direxion Daily TSM Bull 2X Shares will enable traders to magnify the moves in TSMC, the artificial-intelligence behemoth and the stock with the biggest weight in the EM benchmark, by 200% on a daily basis. The Bear 1X Shares ETF will seek to achieve inverse of the share’s daily change. Both funds open Thursday, according to Direxion.

“The stock is a ...