Direxion NASDAQ-100 Equal Weighted Index Shares
ALTAR
Score™
4.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
31.3x P/Sales
ratio
3.8x
P/BV
ratio
5.1x Div.
yield
0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Direxion NASDAQ-100 Equal Weighted Index Shares is an exchange-traded fund incorporated in the USA. The Fund seeks daily investment results, before fees and expenses, that correspond to the daily performance of the NASDAQ 100 Equal Weighted Index.

FUND BASICS
Category US Equities
Fund Sponsor Rafferty Asset Management LLC
Website www.direxionshares.com
Inception date Mar 21, 2012
Assets (mns) $325
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Equal
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 103
Wgt avg mkt cap (mns) $134,491
Large cap (>$10bn) 99.0%
Mid cap ($2-10bn) 1.0%
Small cap (<$2bn) 0.0%
Developed mkts 94.8%
Emerging mkts 5.2%

TOP TEN HOLDINGS
PINDUODUO, INC. SPONSORED ADR CLAS 1.6 %
MERCADOLIBRE INC 1.3 %
LAM RESEARCH CORP 1.3 %
MODERNA, INC. 1.3 %
ALIGN TECHNOLOGY INC 1.3 %
APPLIED MATERIALS INC 1.2 %
KLA-TENCOR CORPORATION 1.2 %
QUALCOMM INC 1.2 %
XILINX INC 1.2 %
IDEXX LABORATORIES INC 1.2 %
Total 12.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.0 %
CHINA 5.6 %
NETHERLANDS 2.1 %
ARGENTINA 1.3 %
BRITAIN 0.9 %
ISRAEL 0.9 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
15.3% 23.7% 14.9% -- 15.7%

Market Correlations
versus... Beta R-squared
S&P500 1.03 93%
MSCI EAFE 1.06 81%
MSCI Emg. Mkts. 0.78 69%

Technical Indicators
Recent close $69.80
30d moving avg. $67.17
Annualized volatility 19.1%
Short interest (ETF) 0.5%
Short interest (Underlying) 4.6%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 36
Turnover 0.8%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $111,640

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Direxion NASDAQ-100 Equal Weighted Index Shares ETF based on the alternatives' overlap in portfolio holdings with QQQE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QQQE Expense: 35 bp ALTAR Score™: 4.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QQQE
Ticker Fund
Name
Overlap1
vs QQQE
(%)
Expense
ratio
(bp)
Savings
vs QQQE
(bp)
ALTAR
Score™
(%)
ALTAR
vs QQQE
(%)
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 99.9 59 -24 4.1 -0.2
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 59.4 60 -25 3.5 -0.8
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 48.0 60 -25 3.4 -0.9
QQQM Invesco NASDAQ 100 ETF 48.0 15 20 3.8 -0.5
QQQ Invesco QQQ Trust 48.0 20 15 3.8 -0.6
QYLD Global X NASDAQ 100 Covered Call ETF 47.8 60 -25 3.4 -1.0
NUSI Nationwide Risk-Managed Income ETF 47.2 68 -33 3.5 -0.8
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 39.6 57 -22 4.6 +0.3
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 37.4 21 14 2.9 -1.4
RPG Invesco S&P 500 Pure Growth ETF 35.5 35 0 4.2 -0.1
RYT Invesco S&P 500 Equal Weight Technology ETF 32.8 40 -5 6.1 +1.8
FLQL Franklin LibertyQ U.S. Equity ETF 31.7 15 20 5.9 +1.6
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 30.9 75 -40 4.0 -0.3
NULG Nuveen ESG Large-Cap Growth ETF 28.5 35 0 3.6 -0.7
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 28.3 49 -14 4.7 +0.4
JHMT John Hancock Multifactor Technology ETF 28.3 40 -5 4.4 +0.1
SPQQ Siren Large Cap Blend Index ETF 27.8 20 15 4.5 +0.2
ESGV Vanguard ESG U.S. Stock ETF 27.8 12 23 4.8 +0.4
JQUA JPMorgan U.S. Quality Factor ETF 26.9 12 23 5.1 +0.8
FVL First Trust Value Line 100 Exchange-Traded Fund 26.8 70 -35 4.9 +0.6
XNTK SPDR NYSE Technology ETF 26.8 35 0 3.3 -1.0
IGM iShares Expanded Tech Sector ETF 26.6 46 -11 3.6 -0.7
FTC First Trust Large Cap Growth AlphaDEX Fund 26.5 61 -26 2.4 -1.9
XOUT GraniteShares XOUT U.S. Large Cap ETF 26.1 60 -25 3.9 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 25.7 9 26 5.3 +1.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 25.5 15 20 5.9 +1.6
IWF iShares Russell 1000 Growth ETF 25.4 19 16 3.7 -0.7
VUG Vanguard Growth Index Fund 25.3 4 31 3.7 -0.6
VOOG Vanguard S&P 500 Growth ETF 25.1 10 25 4.2 -0.2
VONG Vanguard Russell 1000 Growth Index Fund 25.0 8 27 3.8 -0.6
EQWL Invesco Russell Top 200 Equal Weight ETF 24.8 25 10 5.8 +1.4
SPXN ProShares S&P 500 Ex-Financials ETF 24.6 27 8 4.7 +0.3
VOT Vanguard Mid-Cap Growth Index Fund 24.6 7 28 2.9 -1.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 24.6 30 5 6.1 +1.8
QGRO American Century STOXX U.S. Quality Growth ETF 24.5 29 6 3.2 -1.2
CATH Global X S&P 500 Catholic Values Custom ETF 24.4 29 6 4.8 +0.5
JMOM JPMorgan U.S. Momentum Factor ETF 24.4 12 23 3.3 -1.1
IVW iShares S&P 500 Growth ETF 24.4 18 17 4.1 -0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 24.4 4 31 4.2 -0.1
XT iShares Exponential Technologies ETF 24.3 47 -12 4.7 +0.4
TECB iShares US Tech Breakthrough Multisector ETF 24.0 40 -5 3.9 -0.4
MTUM iShares MSCI USA Momentum Factor ETF 24.0 15 20 4.1 -0.2
IYW iShares U.S. Technology ETF 24.0 43 -8 3.7 -0.6
PEXL Pacer US Export Leaders ETF 24.0 60 -25 5.5 +1.2
JKH iShares Morningstar Mid-Cap Growth ETF 24.0 30 5 1.9 -2.4
MGC Vanguard Mega Cap Index Fund 23.9 7 28 4.8 +0.5
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 23.9 49 -14 3.9 -0.4
IWL iShares Russell Top 200 ETF 23.8 15 20 4.7 +0.3
MGK Vanguard Mega Cap Growth ETF 23.8 7 28 3.9 -0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 23.8 7 28 4.9 +0.5
FDMO Fidelity Momentum Factor ETF 23.8 29 6 3.2 -1.1
ESGU iShares MSCI USA ESG Optimized ETF 23.7 15 20 4.7 +0.4
VEGN US Vegan Climate ETF 23.7 60 -25 4.7 +0.4
SFY SoFi Select 500 ETF 23.7 0 35 4.8 +0.5
QLC FlexShares US Quality Large Cap Index Fund 23.7 32 3 4.9 +0.6
IQSU IQ Candriam ESG US Equity ETF 23.6 9 26 4.8 +0.5
RNLC Large Cap US Equity Select ETF 23.6 60 -25 5.6 +1.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 23.6 2 33 4.9 +0.6
IWY iShares Russell Top 200 Growth ETF 23.5 20 15 3.8 -0.5
IUSG iShares Core S&P US Growth ETF 23.5 4 31 4.2 -0.1
DEF Invesco Defensive Equity ETF 23.5 55 -20 5.1 +0.8
PBUS Invesco PureBeta MSCI USA ETF 23.4 4 31 4.9 +0.5
SPGP Invesco S&P 500 GARP ETF 23.4 34 1 6.3 +2.0
BKLC BNY Mellon US Large Cap Core Equity ETF 23.3 0 35 4.8 +0.5
PWB Invesco Dynamic Large Cap Growth ETF 23.3 56 -21 3.3 -1.1
FXL First Trust Technology AlphaDEX Fund 23.3 61 -26 3.7 -0.6
CLRG IQ Chaikin U.S. Large Cap ETF 23.2 25 10 5.3 +1.0
TMFC Motley Fool 100 Index ETF 23.2 50 -15 3.3 -1.0
VV Vanguard Large-Cap Index Fund 23.1 4 31 4.9 +0.5
ETHO Etho Climate Leadership U.S. ETF 23.0 47 -12 4.0 -0.3
QUS SPDR MSCI USA StrategicFactors ETF 23.0 15 20 5.5 +1.2
USXF iShares ESG Advanced MSCI USA ETF 23.0 10 25 4.7 +0.3
THNQ ROBO Global Artificial Intelligence ETF 23.0 68 -33 1.5 -2.8
KRMA Global X Conscious Companies ETF 23.0 43 -8 4.9 +0.5
SPMO Invesco S&P 500 Momentum ETF 22.9 13 22 4.0 -0.3
IETC iShares Evolved U.S. Technology ETF 22.9 18 17 3.7 -0.7
SYG SPDR MFS Systematic Growth Equity ETF 22.8 60 -25 4.1 -0.2
SCHX Schwab U.S. Large-Cap ETF 22.8 3 32 4.8 +0.5
PBP Invesco S&P 500 BuyWrite ETF 22.7 49 -14 4.7 +0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 22.7 20 15 5.0 +0.7
HSPX Global X S&P 500 Covered Call ETF 22.6 60 -25 4.6 +0.3
XYLG Global X S&P 500 Covered Call & Growth ETF 22.6 60 -25 4.7 +0.3
SPXE ProShares S&P 500 Ex-Energy ETF 22.6 27 8 4.9 +0.6
IWP iShares Russell Mid-Cap Growth ETF 22.5 24 11 2.8 -1.5
FTEC Fidelity MSCI Information Technology Index ETF 22.4 8 27 4.3 -0.0
SPLG SPDR Portfolio Large Cap ETF 22.4 3 32 5.1 +0.8
SPY SPDR S&P 500 ETF Trust 22.4 9 26 5.0 +0.7
IVV iShares Core S&P 500 ETF 22.4 3 32 5.1 +0.8
ROUS Hartford Multifactor US Equity ETF 22.3 19 16 6.2 +1.8
SCHK Schwab 1000 Index ETF 22.3 5 30 4.9 +0.5
IYY iShares Dow Jones U.S. ETF 22.3 20 15 4.7 +0.4
SPXV ProShares S&P 500 Ex-Health Care ETF 22.2 27 8 4.7 +0.3
VGT Vanguard Information Technology Index Fund 22.2 10 25 4.3 -0.1
IWB iShares Russell 1000 ETF 22.2 15 20 4.8 +0.4
VOO VANGUARD S&P 500 ETF 22.1 3 32 5.1 +0.8
AFLG First Trust Active Factor Large Cap ETF 21.9 55 -20 4.9 +0.6
FQAL Fidelity Quality Factor ETF 21.8 29 6 5.2 +0.8
SCHG Schwab U.S. Large-Cap Growth ETF 21.8 4 31 3.4 -0.9
XLK Technology Select Sector SPDR Fund 21.7 13 22 4.6 +0.2

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Direxion NASDAQ-100 Equal Weighted Index Shares
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 21.1 %
Divided by: Fwd. P/BV 4.5 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.50
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.