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Relative Weight ETFs

RWDE

The Direxion MSCI Developed Over Emerging Markets ETF seeks investment results, before fees and expenses, that track the MSCI EAFE IMI – Emerging Markets IMI 150/50 Return Spread Index. There is no guarantee that the fund will achieve its stated investment objective.

Relative Weight ETFs provide a simple, cost-effective way to express thematic views. When the favored weighting is correct, the fund will seek to outperform traditional long-only strategies.

Overview

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Target Index

The MSCI EAFE IMI – Emerging Markets IMI 150/50 Return Spread Index (DU722425) measures the performance of a portfolio that has 150% long exposure to the MSCI EAFE IMI Index (the “Long Component”) and 50% short exposure to the MSCI Emerging Markets IMI Index (the “Short Component”).On a monthly basis, the Index will rebalance such that the weight of the Long Component is equal to 150% and the weight of the Short Component is equal to 50% of the Index value. In tracking the Index, the Fund seeks to provide a vehicle for investors looking to efficiently express a developed over emerging investment view by overweighting exposure to the Long Component and shorting exposure to the Short Component. One cannot directly invest in an index.

Index Holdings & Weightings

Top 5 Long Index Holdings %

Nestle 3.24
Roche 2.40
Novartis 1.84
ASMLHolding 1.54
SAP Se 1.43

Top 5 Short Index Holdings %

Alibaba -3.15
Tencent Holdings -2.87
Taiwan Semicont -2.03
Samsung Electronics -1.63
Naspers -0.63

Top 5 Long Country Weightings %

Japan 39.22
United Kingdom 19.60
Switzerland 14.82
France 13.81
Germany 12.87

Top 5 Short Country Weightings %

China -17.56
Taiwan -6.66
Korea -6.07
India -4.17
Brazil -2.68

Source: Bloomberg. Index and Sector weightings are net and as of 6/30/2020 and subject to change.

 

Fund Exposure

Developed Markets Stocks 150%
Emerging Markets Stocks -50%
Total Net Exposure 100%

Pricing & Performance

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




Distributions