Direxion MSCI USA Cyclicals Over Defensives ETF










    0.45 / 0.45*


    Jan 16, 2019

Relative Value Investing

Provides 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.


The Direxion MSCI USA Cyclicals Over Defensives ETF seeks investment results, before fees and expenses, that track the MSCI USA Cyclical Sectors – USA Defensive Sectors 150/50 Return Spread Index. There is no guarantee that the fund will achieve its stated investment objective.

Fund Exposure

Cyclicals Stocks 150%
Defense Stocks -50%
Total Net Exposure 100%


Target Index

The MSCI USA Cyclical Sectors – USA Defensive Sectors 150/50 Return Spread Index (DU722431) measures the performance of a portfolio that has 150% long exposure to the MSCI USA Cyclical Sectors Index (the "Long Component") and 50% short exposure to the MSCI USA Defensive Sectors 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 cyclicals over defensives 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

Top 5 Long %

Microsoft 10.72
Apple Inc 10.6
Amazon 7.71
Facebook 3.77
Google – CL C 3.37

Top 5 Short %

Johnson & Johnson -2.65
Procter & Gamble -2.1
UnitedHealth -1.81
Merck & Co -1.5
Pfizer -1.38

Index Sector Weightings %

Information Technology 53.81
Financials 22.8
Communication Services 22.61
Consumer Discretionary 21.3
Industrials 17.46
Real Estate 6.84
Materials 5.13
Energy -4.42
Utilities -6.05
Consumer Staples -13.01
Health Care -26.51

Source: Bloomberg. Index and Sector weightings are net and as of 3/31/2020 and subject to change.

Pricing and Performance

NAV and Market Price information as of May 28, 2020. Line chart shows pricing trend over the last 30 days.

fund symbol


  • Net asset value (NAV)

    • 64.30
    • -0.85
    • -1.30
  • market price closing

    • 64.37
    • -0.76
    • -1.17
  • Premium / Discount

    • 0.07

* The Funds' 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.


  • RWCD
  • Direxion MSCI USA Cyclicals Over Defensives ETF
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 0.22943
12/24/2019 12/23/2019 12/31/2019 0.24141
09/25/2019 09/24/2019 10/01/2019 0.15514
06/26/2019 06/25/2019 07/02/2019 0.19907
03/20/2019 03/19/2019 03/26/2019 0.15265