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Relative Weight ETFs


The Direxion Russell Large Over Small Cap ETF seeks investment results, before fees and expenses, that track the Russell 1000®/Russell 2000® 150/50 Net 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.


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Target Index

The Russell 1000®/Russell 2000® 150/50 Net Spread Index (R1R2NC) measures the performance of a portfolio that has 150% long exposure to the Russell 1000® Index (the “Long Component”) and 50% short exposure to the Russell 2000® 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 large-capitalization over small-capitalization 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 %

Microsoft 7.95
Apple 7.79 6.10
Facebook – Class A 2.85
Alphabet Inc – Class A 2.22

Top 5 Short %

Deckers Outdoor -0.16
LHC Group -0.15
BJs Wholesale Club -0.14
Churchill Downs -0.14
Novavax -0.14

Index Sector Weightings %

Information Technology 34.08
Communication Services 14.11
Health Care 11.52
Consumer Discretionary 11.02
Consumer Staples 7.99
Financials 7.14
Industrials 5.35
Energy 2.82
Utilities 2.55
Materials 1.91
Real Estate 1.49

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

Fund Exposure

Large Cap Stocks 150%
Small Cap 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.