Global X Ultra Long NASDAQ 100 ETF (LNAS) $12.94

The LNAS ETF, the 3^rd ASX-traded ETF considered today, is a bullish ETF for leveraged exposure to the tech-based NASDAQ; the ETF is also hedged. Fees are 1.0% pa, while dividends are paid once a year in June, but were omitted in 2024. The LNAS is currently geared to around 2.3x; hence, if the US NASDAQ Index goes up 1% today, the ETF would be expected to go up approximately 2.3% before fees and expenses. The ETF’s tracking of the US tech market has been good of late: over the last 3 months, the Nasdaq Index rallied +8.4% while the LNAS ETF has gained +18.1%, around 2.2x – the shorter the timeframe, the better the tracking.

• We like the LNAS ETF for a seasonal rally, but its performance will be largely determined by sentiment towards the “AI trade.”