Direxion All Cap Insider Sentiment Shares

  • FUND SYMBOL

    KNOW

  • INTRA-DAY INDICATIVE VALUE

    KNOW.IV

  • BLOOMBERG INDEX

    SPTEAEUT

  • CUSIP

    25459Y769

  • EXPENSE RATIO (GROSS/NET %)

    0.66 / 0.66*

  • INCEPTION DATE

    Dec 08, 2011

Overview

Effective March 1, 2020, the Direxion All Cap Insider Sentiment Shares underlying index changed from the Sabrient Multi-Cap Insider/Analyst Quant-Weighted Index to the S&P Composite 1500 Executive Activity & Analyst Estimate Index. Read the FAQ.

The Direxion All Cap Insider Sentiment Shares ETF seeks investment results, before fees and expenses, that track the S&P Composite 1500® Executive Activity & Analyst Estimate Index. There is no guarantee the fund will meet its stated investment objective.

Strategy & Benefits

Strategy Description

  • Allows investors to identify and participate in stocks that corporate insiders are accumulating
  • Offers access to a quantitative, rules-based index approach to equity investing
  • Focuses on insider transactions and analyst ratings to determine weightings within the Index
  • Allocations to sectors within the index can vary significantly from traditional cap-weighted equity benchmark weightings

Fund Details

Fund Statistics

Beta to the S&P 1500 1.05
Correlation to the S&P 1500 0.95
Sharpe Ratio 0.44
Standard Deviation 17.81%

Source: Bloomberg. All data as of 3/31/2020 and subject to change.

Sharpe Ratio is a measure of excess reward per unit of volatility. The calculation is against the Barclays U.S. Treasury Bills: 1-3 Months TR Index Value Unhedged, a risk free rate reference and the average value for the period.

Standard Deviation is a measure of price variability (risk).

Correlation is a measure of the similarity of performance.

Beta is a measure of price variability relative to the market.

Market Capitalization is the total dollar market value of all of a company's outstanding shares, and is calculated by multiplying a company's shares outstanding by the current market price of one share.

The S&P 1500 Index, or S&P Composite 1500 Index, is a stock market index of US stocks made by Standard & Poor's. It includes all stocks in the S&P 500, S&P 400, and S&P 600. This index covers 90% of the market capitalization of U.S. stocks.

Market Cap Info (%)

Mega Capitalization 21.43
Large Capitalization 55.21
Mid Capitalization 21.83
Small Capitalization 1.81

Target Index

The S&P Composite 1500® Executive Activity & Analyst Estimate Index (SPTEAEUT) is designed to identify securities that receive favorable analyst ratings and are being acquired by company insiders, such as top management, directors, and large institutional holders. S&P Dow Jones Indices (the "Index Provider") starts with the universe of securities in the S&P Composite 1500® Index and selects constituents based on the following criteria: (1) positive earnings per share ("EPS") estimates from analysts for the current fiscal year; (2) the percentage of upward revisions by analysts of EPS estimates; (3) the percentage change in the EPS as of the prior month end; (4) the percentage of insiders that have increased their holdings in the past month; and (5) the absolute change in insider holdings as of the prior month end. A security's rank in the Index is calculated as a simple average of each of its above five rankings. The Index selects the top 100 securities by rank and weights them based on float-adjusted market capitalization subject to certain sector and security constraints. In addition, each security weight is capped at 5% with a minimum security weight of 0.05%. The Index is reconstituted and rebalanced monthly. One cannot directly invest in an index.

Index Top Ten Holdings %

Idexx Labs 5.95
Microsoft 5.93
Edwards Lifesciences 5.78
Prologis REIT 5.77
Intel 5.57
Apple 5.40
Cable One 5.18
Ebay 4.99
JP Morgan Chase 4.53
Autozone 3.73

Index Sector Weightings %

Information Technology 25.19
Financials 16.51
Consumer Discretionary 13.43
Health Care 12.69
Industrials 9.82
Real Estate 9.07
Communication Services 5.82
Energy 5.18
Materials 1.31
Utilities 0.98

Index data as of 03/31/2020. Source: Bloomberg. Index sector weightings and top holdings are subject to change.


Tax Reporting

Supplemental Tax Documents

Pricing and Performance

NAV and Market Price information as of May 26, 2020. Line chart shows pricing trend over the last 30 days.

fund symbol

KNOW

  • Net asset value (NAV)

    • 31.80
    • 0.10
    • 0.32
  • market price closing

    • 31.78
    • 0.07
    • 0.22
  • Premium / Discount

    • -0.02

Effective March 1, 2020, the S&P Composite 1500® Index is presented as a more appropriate broad measure of market performance.

The performance shown prior to March 1, 2020 reflects the Fund's previous investment objective, seeking investment results, before fees and expenses, that track the Sabrient Multi-Cap Insider/Analyst Quant-Weighted Index. Beginning March 1, 2020, the Fund began to seek investments results, before fees and expenses, that track the S&P Composite 1500® Executive Activity & Analyst Estimate Index.

* The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.59%. The Fund's adviser, Rafferty Asset Management, LLC ("Rafferty") has entered into an Operating Services Agreement with the Fund. Under this Operating Services Agreement, Rafferty has contractually agreed to pay all expenses of the Fund as long as it is the advisor of the Fund other than the following: management fees, Rule 12b-1 distribution and/or service fees, taxes, swap financing and related costs, dividends or interest on short positions, other interest expenses, brokerage commissions, expenses incurred in connection with any merger or reorganization, acquired fund fees and expenses, and extraordinary expenses. If these expenses were included, the expense ratio would be higher.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For the most recent month-end performance please visit the fund's website at www.direxion.com.

Short-term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund's prospectus.

Distributions

  • KNOW
  • Direxion All Cap Insider Sentiment Shares
Record Date Ex Date Pay Date Income Dividend Short-Term Capital Gain Long-Term Capital Gain
03/25/2020 03/24/2020 03/31/2020 0.15458
12/24/2019 12/23/2019 12/31/2019 0.31891
09/25/2019 09/24/2019 10/01/2019 0.20918
06/26/2019 06/25/2019 07/02/2019 0.26226
03/20/2019 03/19/2019 03/26/2019 0.19734
12/28/2018 12/27/2018 01/04/2019 0.24167
09/26/2018 09/25/2018 10/02/2018 0.19945 0.97255
06/20/2018 06/19/2018 06/26/2018 0.30309