INTRA-DAY INDICATIVE VALUE
EXPENSE RATIO (GROSS/NET %)
0.42 / 0.42*
Feb 05, 2020
The Direxion MSCI USA ESG – Leaders vs. Laggards ETF aims to deliver a unique approach to ESG investing that is long and overweight companies with high ESG ratings and is short those with low ESG ratings. This approach allows investors to express a more complete view on both the leaders and laggards in ESG issues within the MSCI USA universe.
- Capital-efficient 150/50 structure that extends the ESG universe to capture both leading and lagging companies
- The strategy captures both the aggregate MSCI ESG score as well as the ESG rating trend, and does this at the sector level to identify companies doing well (or poorly) relative to their peers
- Aims to offer a similar beta to the U.S. equity market while incorporating a robust approach to ESG investing, making it a potential option as a core holding for investors
The Direxion MSCI USA ESG – Leaders vs. Laggards ETF seeks investment results, before fees and expenses, that track the MSCI USA ESG Universal Top-Bottom 150/50 Return Spread Index. There is no guarantee that the fund will achieve its stated investment objective.
A Robust Scoring Methodology captures both ESG Leaders and ESG Laggards
The benchmark index for ESNG employs a proprietary, rules-based methodology to identify industry leaders and laggards. Companies are rated on an ‘AAA to CCC’ scale according to their exposure to ESG risks and how well they manage those risks relative to peers.
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MSCI USA ESG Universal Top - Bottom 150/50 Return Spread Index (the "Index") seeks to provide long exposure to companies with high environmental, social, and governance ("ESG") ratings and trend relative to their sector peers and short exposure to companies with low ESG performance relative to their sector peers as determined by MSCI, the "Index Provider". To this end, the Index consists of a portfolio that has 150% long exposure to the MSCI USA ESG Universal Top 100 5% Issuer Capped Index (the "Long Component") and 50% short (or inverse) exposure to the MSCI USA ESG Universal Bottom 100 5% Issuer Capped Index (the "Short Component"). The Index, and both the Long and Short Components are reviewed, reconstituted, and rebalanced on a quarterly basis.
Strategy & Benefits
Top 5 Long Holdings %
|Home Depot Inc||7.55|
|American Express Co||7.37|
|Procter & Gamble Co||4.85|
Top 5 Short Holdings %
|Monster Beverage Corp||-2.83|
Index Sector Weightings %
Source: Bloomberg. Index and Sector weightings are net and as of 1/31/2020 and subject to change.
The MSCI USA ESG Universal Top-Bottom 150/50 Return Spread Index combines long positions (150%) of 100 securities with the highest combined ESG scores with short positions (-50%) of the 100 securities with the lowest combined ESG scores.
- Securities are selected from the MSCI USA Index
- Both rating and trend result in a Combined ESG score
- Security weights are based on Market Cap weighted ESG scores
Pricing and Performance
Pricing and Performance
NAV and Market Price information as of April 02, 2020. Line chart shows pricing trend over the last 30 days.
Net asset value (NAV)
market price closing
Premium / Discount
* 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 0.40%. 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 through September 1, 2021 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 funds 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.
- Direxion MSCI USA ESG - Leaders vs. Laggards ETF
|Record Date||Ex Date||Pay Date||Income Dividend||Short-Term Capital Gain||Long-Term Capital Gain|