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Strategic & Thematic ETFs

MSGR

The Direxion mRNA ETF (MSGR) seeks investment results, before fees and expenses, that track the BITA Messenger RNA Technology Index (BMRNAIN); investing in U.S., Canadian and European companies that are leading the development of messenger RNA technology. There is no guarantee that the fund will achieve its stated investment objective.

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Overview

 

The Direxion mRNA ETF (MSGR) provides exposure to companies that are leading the development and application of messenger RNA (“mRNA”) technology.

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Target Index

The BITA Messenger RNA Technology Index (BMRNAIN) provides exposure to the performance of companies, publicly listed in the United States, Canada and Europe, that are leading the development and application of messenger RNA (“mRNA”) technology. mRNA is a single stranded ribonucleic acid (“RNA”) molecule that is complementary to one of the DNA strands of a gene. mRNA plays a vital role in protein synthesis in the human body, and mRNA technologies leverage this vital role to enable targeted cells to produce proteins that enable the body to fight or prevent a given disease. As an example, mRNA technology is the basis for certain COVID 19 vaccines. Eligible companies must meet certain conditions as specified by the Index Provider as well as market capitalization and liquidity requirements. Index constituents are weighted based on a modified free float market capitalization and reconstituted and rebalanced quarterly. One cannot directly invest in an index.

Index Holdings & Weightings

Top Ten Holdings %

BioNTech SE 9.41
Dicerna Pharmaceuticals Inc 8.22
Vertex Pharmaceuticals Inc 7.07
Moderna Inc 7.04
BeiGene Ltd 6.64
Alnylam Pharmaceuticals Inc 6.50
Gritstone bio Inc 5.34
Arrowhead Pharmaceuticals Inc 4.90
Maravai LifeSciences Holdings Inc 4.65
CureVac NV 4.54

Sub-Industry Weightings %

Biotechnology 94.22
Life Sciences Tools & Services 5.24
Pharmaceuticals 0.54

Country Weightings  %

United States 75.63
Germany 13.95
China 6.64
Netherlands 3.78

Source: Bloomberg. Index holdings and weightings are net and as of 10/31/2021 and subject to change.

 

Index Construction

Initial Universe Criteria—Companies must satisfy at least one of the below conditions:

  • Be involved in the commercialization of products and therapies based on Messenger RNA technology, or sister RNA technologies (Small Interfering RNA, Micro RNA)
  • Be classified as a clinical stage biotechnology company, with focus in the development of products and therapies that leverage the messenger RNA technology
  • Have a portfolio of active, approved, mRNA technology-focused clinical trials
  • Have any granted, active patents, with demonstrated involvement of the messenger RNA technology

Final Universe Criteria—Companies must then satisfy a minimum thematic exposure of 50% based on revenue exposure: For this index, in order to calculate the thematic exposure score, the following criteria is applied (if a company satisfies more than one criteria, the largest exposure score applies):

  • Companies deriving at least 50% of their revenue from the commercialization of products and therapies based on Messenger RNA technology, or sister RNA technologies (Small Interfering RNA, Micro RNA), are attributed a thematic exposure score of 100%
  • Companies with a declared (evidenced on company headline communication) focus on the development and commercialization of mRNA technology based products and therapies are attributed a thematic exposure score of 80%
  • Companies with a portfolio of active, approved, mRNA technology- focused clinical trials, representing at least 50% of the total number of active clinical trials launched by the company, are attributed a thematic exposure score of 80%
  • Clinical-stage companies, with at least one active, approved, mRNA technology-focused clinical trial, are attributed a thematic exposure score of 50%

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Pricing & Performance

NAV and Market Price information as of . Line chart shows pricing trend over the last 30 days. The Primary Listing Exchange is the NYSE Arca, Inc.




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