Kairos Power Joins Texas Nuclear Alliance as Founding Member
'Kairos Power recognizes the tremendous potential that nuclear power offers for Texas and is leading the way in developing advanced reactor technologies to help unlock a reliable, affordable, cleaner energy future,' said TNA President Reed Clay. 'Kairos Power's unique technology and leadership in nuclear will play a pivotal role in the future of the power industry in Texas.'
'Texas is taking bold steps to secure its clean energy future by embracing nuclear energy to power homes, businesses, and industries. As a member of the Texas Nuclear Alliance, Kairos Power is proud to align with this mission, furthering our commitment to enable the energy transition while promoting human wellbeing,' said Kairos Power CEO and co-founder Mike Laufer. 'We are excited about the opportunity to drive technological leadership and continued economic growth by deploying advanced reactors in Texas.'
About Kairos Power
Kairos Power is a mission-driven nuclear technology, engineering, and manufacturing company singularly focused on commercializing the fluoride salt-cooled, high-temperature reactor (KP-FHR) – a clean energy solution that can be deployed with robust safety at an affordable cost to enable deep decarbonization. Founded in 2016, the company is unique in applying a rapid iterative development approach and vertical integration strategy to bring advanced reactor technology to market. In 2023, the U.S. Nuclear Regulatory Commission issued a construction permit for Kairos Power's Hermes demonstration reactor – the first non-water-cooled reactor to be approved for construction in the U.S. in more than 50 years. Kairos Power's mission is to enable the world's transition to clean energy with the ultimate goal of dramatically improving people's quality of life while protecting the environment. Learn more at kairospower.com.
About the Texas Nuclear Alliance
TNA is the only industry association in Texas dedicated to the advancement of nuclear technology in the state. TNA was formed with a singular mission: to make Texas the Nuclear Capital of the World. Formed in 2022 in the aftermath of Winter Storm Uri, TNA is based on the fundamental premise that if Texas and the world want low-carbon, reliable energy, it can no longer turn its back on nuclear energy. Nuclear is clean, safe, reliable, and secure.
Texas Nuclear Alliance
Lauren Clay
512-567-7604
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The Direxion Daily Small Cap Bull 3X Shares ETF is a triple-leveraged small-cap ETF. If the Russell 2000 performs well, it could deliver incredible returns. There are some big risk factors, so it's important to know what you're getting into. 10 stocks we like better than Direxion Shares ETF Trust - Direxion Daily Small Cap Bull 3x Shares › If you're bullish on small-cap stocks, it might seem like a good idea to buy shares of a leveraged ETF like the Direxion Daily Small Cap Bull 3X Shares ETF (NYSEMKT: TNA) in order to magnify your returns. Of course, this could certainly work out well if the index goes on an incredible bull run, but it's also important to know what happens if it doesn't. We'll look at some of the reasons why you might want to buy shares of this triple-leveraged index fund, and why it might be a better idea to approach it with caution. The Direxion Daily Small Cap Bull 3X Shares ETF uses derivative securities in order to produce three times the daily return of the Russell 2000 index. If you aren't familiar with it, the Russell 2000 is perhaps the most widely used small-cap stock index. The Russell 3000 is a total market index, and the Russell 2000 includes the 2,000 smallest companies in it. In other words, if the Russell 2000 rises by 2% tomorrow, the Direxion Daily Small Cap Bull 3X Shares ETF should rise by about 6%. To be perfectly clear, this is designed as a short-term investment vehicle. There is nothing preventing you from owning the ETF for a long period of time, but as we'll see in a bit, the mathematics aren't favorable, unless the Russell 2000 goes on an incredible bull run. The most obvious reason to consider the Direxion Daily Small Cap Bull 3X Shares ETF is for its performance potential. While the long-term mathematics typically don't work out to an exact 3X multiple, if the Russell 2000 rises by, say, 20% next year, there's a good chance that this ETF will produce very strong returns. Second, using a leveraged ETF is far easier than setting up a leveraged investment on your own with things like futures contracts and index options. There's a significant cost (more on that in the next section), but the fund managers are doing the heavy lifting for sure. Because of the triple-leveraged nature of the Direxion Daily Small Cap Bull 3X Shares ETF, it is naturally going to be more volatile than a standard Russell 2000 ETF. This is true whether the investment is going well or not. In addition, specialized ETFs typically have above-average fees, and this is no exception. In fact, the Direxion Daily Small Cap Bull 3X Shares ETF has a 1.03% net expense ratio, which is certainly on the high end, even for actively managed ETFs. Last, and perhaps most important, is the fact that this ETF is set up to produce three times the daily returns of the Russell 2000, not its long-term returns. To be perfectly clear, this ETF will not produce exactly three times the returns of the Russell 2000 over the long term. This is illustrated in the fund's performance over long periods: Period Russell 2000 (Annualized) TNA ETF (Annualized) One year -4% -31% Three years 0.5% -21.8% Five years 13.3% 12.8% 10 years 6.3% -3.8% Data source: Direxion as of March 31, 2025. Table by author. This table shows why the mathematics of daily compounding and leveraged ETFs generally don't mix well, unless the underlying index is performing phenomenally well. Even in periods where the Russell 2000 does reasonably well, like its 6.3% annualized return over the past 10 years, it's entirely possible for a leveraged ETF to decline. 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