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Relative Weight ETFs

RWED

The Direxion MSCI Emerging Over Developed Markets ETF seeks investment results, before fees and expenses, that track the MSCI Emerging Markets IMI – EAFE 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

Documents & Downloads


Target Index

The MSCI Emerging Markets IMI – EAFE IMI 150/50 Return Spread Index (DU722424) measures the performance of a portfolio that has 150% long exposure to the MSCI Emerging Markets IMI Index (the “Long Component”) and 50% short exposure to the MSCI EAFE 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 an emerging over developed 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 %

Alibaba 9.45
Tencent Holdings 8.60
Taiwan Semicont Man 6.09
Samsung 4.89
Naspers 1.89

Top 5 Short Index Holdings %

Nestle -1.08
Roche -0.80
Novartis -0.61
ASML Holding -0.51
SAP Se -0.48

Top 5 Long Country Weightings %

China 52.69
Taiwan 19.97
Korea 18.21
India 12.51
Brazil 8.04

Top 5 Short Country Weightings %

Japan -13.07
United Kingdom -6.53
Switzerland -4.94
France -4.60
Germany -4.29

Source: Bloomberg. Index and Sector weightings are net and as of 3/30/2020 and subject to change.

 

Fund Exposure

Emerging Markets Stocks 150%
Developed 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

Tax Reporting

Download the following Tax Reporting Documents

  • Form 8937 – (2019)