Direxion NASDAQ-100 Equal Weighted Index Shares
ALTAR
Score™
4.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
30.5x P/Sales
ratio
3.0x
P/BV
ratio
4.5x Div.
yield
1.0%


  • 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) $242
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) $115,366
Large cap (>$10bn) 99.2%
Mid cap ($2-10bn) 0.8%
Small cap (<$2bn) 0.0%
Developed mkts 94.6%
Emerging mkts 5.4%

TOP TEN HOLDINGS
MERCADOLIBRE INC 1.4 %
SPLUNK INC 1.3 %
PAYPAL HOLDINGS INC 1.2 %
FACEBOOK 1.2 %
NVIDIA CORP 1.2 %
LULULEMON ATHLETICA INC 1.2 %
DEXCOM INC 1.1 %
ZOOM VIDEO COMMUNICATIONS, INC. CL 1.1 %
TAKE-TWO INTERACTIVE SOFTWRE 1.1 %
VERTEX PHARMACEUTICALS INC 1.1 %
Total 11.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 90.4 %
CHINA 4.0 %
NETHERLANDS 1.9 %
ARGENTINA 1.4 %
BRITAIN 1.1 %
ISRAEL 1.0 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.1% 5.3% 10.8% -- 14.1%

Market Correlations
versus... Beta R-squared
S&P500 1.03 93%
MSCI EAFE 1.02 78%
MSCI Emg. Mkts. 0.79 73%

Technical Indicators
Recent close $56.26
30d moving avg. $52.70
Annualized volatility 18.0%
Short interest (ETF) 1.1%
Short interest (Underlying) 4.6%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 63
Turnover 1.5%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $115,535

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 4.6%


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 99.7 60 -25 4.3 -0.3
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 60.2 60 -25 3.9 -0.8
QYLD Global X NASDAQ 100 Covered Call ETF 50.5 60 -25 3.8 -0.8
QQQ Invesco QQQ Trust 49.1 20 15 4.2 -0.4
NUSI Nationwide Risk-Managed Income ETF 49.0 68 -33 3.8 -0.8
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 39.6 57 -22 5.2 +0.6
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 39.2 21 14 3.3 -1.3
RPG Invesco S&P 500 Pure Growth ETF 36.1 35 0 4.6 -0.0
RYT Invesco S&P 500 Equal Weight Technology ETF 33.2 40 -5 7.5 +2.9
FTC First Trust Large Cap Growth AlphaDEX Fund 30.8 61 -26 3.1 -1.5
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 29.9 75 -40 3.8 -0.8
JHMT John Hancock Multifactor Technology ETF 28.8 40 -5 5.2 +0.6
JKE iShares Morningstar Large-Cap Growth ETF 28.1 25 10 3.6 -1.0
JQUA JPMorgan U.S. Quality Factor ETF 28.1 12 23 5.3 +0.7
FLQL Franklin LibertyQ U.S. Equity ETF 28.1 15 20 6.4 +1.8
QGRO American Century STOXX U.S. Quality Growth ETF 27.9 29 6 3.2 -1.4
VUG Vanguard Growth Index Fund 27.0 4 31 4.3 -0.3
VONG Vanguard Russell 1000 Growth Index Fund 26.9 8 27 4.5 -0.1
IWF iShares Russell 1000 Growth ETF 26.9 19 16 4.4 -0.2
XNTK SPDR Morgan Stanley Technology ETF 26.7 35 0 4.1 -0.5
IGM iShares North American Tech ETF 26.6 46 -11 4.1 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 26.5 60 -25 4.6 +0.0
VOT Vanguard Mid-Cap Growth Index Fund 26.4 7 28 3.7 -0.9
CLRG IQ Chaikin U.S. Large Cap ETF 26.1 25 10 6.3 +1.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 25.7 9 26 5.7 +1.1
NULG Nuveen ESG Large-Cap Growth ETF 25.7 35 0 3.5 -1.1
EQWL Invesco Russell Top 200 Equal Weight ETF 25.7 25 10 6.2 +1.6
SPXN ProShares S&P 500 Ex-Financials ETF 25.6 27 8 5.2 +0.6
SPYG SPDR Portfolio S&P 500 Growth ETF 25.5 4 31 4.5 -0.1
IVW iShares S&P 500 Growth ETF 25.5 18 17 4.4 -0.2
VOOG Vanguard S&P 500 Growth ETF 25.3 10 25 4.5 -0.1
XT iShares Exponential Technologies ETF 25.3 47 -12 5.5 +0.9
MTUM iShares Edge MSCI USA Momentum Factor ETF 25.2 15 20 4.8 +0.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 25.2 49 -14 4.3 -0.3
IUSG iShares Core S&P US Growth ETF 24.7 4 31 4.6 -0.0
MGK Vanguard Mega Cap Growth ETF 24.6 7 28 4.4 -0.2
CATH Global X S&P 500 Catholic Values Custom ETF 24.6 29 6 5.5 +0.9
IWY iShares Russell Top 200 Growth ETF 24.5 20 15 4.4 -0.2
TTAC TrimTabs Float Shrink ETF 24.5 59 -24 3.7 -0.9
TECB iShares US Tech Breakthrough Multisector ETF 24.4 40 -5 4.2 -0.5
ESGV Vanguard ESG U.S. Stock ETF 24.4 12 23 5.4 +0.8
DEF Invesco Defensive Equity ETF 24.3 55 -20 5.2 +0.6
VEGN US Vegan Climate ETF 24.2 60 -25 5.4 +0.8
IQSU IQ Candriam ESG US Equity ETF 24.1 9 26 5.4 +0.8
PBP Invesco S&P 500 BuyWrite ETF 24.1 49 -14 5.3 +0.7
TMFC Motley Fool 100 Index ETF 24.1 50 -15 4.1 -0.6
SFY SoFi Select 500 ETF 23.9 0 35 5.5 +0.9
DSTL Distillate US Fundamental Stability & Value ETF 23.8 39 -4 6.6 +2.0
RNLC Large Cap US Equity Select ETF 23.8 60 -25 6.4 +1.8
VV Vanguard Large-Cap Index Fund 23.6 4 31 5.5 +0.9
HSPX Global X S&P 500 Covered Call ETF 23.6 65 -30 5.2 +0.6
SPXE ProShares S&P 500 Ex-Energy ETF 23.6 27 8 5.5 +0.9
MGC Vanguard Mega Cap Index Fund 23.6 7 28 5.4 +0.8
FDMO Fidelity Momentum Factor ETF 23.6 29 6 4.0 -0.6
SCHG Schwab U.S. Large-Cap Growth ETF 23.5 4 31 4.4 -0.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 23.5 20 15 5.6 +1.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 23.5 2 33 5.6 +1.0
IYW iShares U.S. Technology ETF 23.4 42 -7 4.4 -0.2
PBUS Invesco PureBeta MSCI USA ETF 23.4 4 31 5.6 +1.0
IETC iShares Evolved U.S. Technology ETF 23.3 18 17 4.2 -0.4
ETHO Etho Climate Leadership U.S. ETF 23.3 47 -12 4.5 -0.1
JKH iShares Morningstar Mid-Cap Growth ETF 23.3 30 5 2.6 -2.0
IWL iShares Russell Top 200 ETF 23.3 15 20 5.3 +0.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 23.3 15 20 6.4 +1.8
FQAL Fidelity Quality Factor ETF 23.2 29 6 5.5 +0.9
SPLG SPDR Portfolio Large Cap ETF 23.1 3 32 5.6 +1.0
SPY SPDR S&P 500 ETF Trust 23.1 9 26 5.6 +1.0
IVV iShares Core S&P 500 ETF 23.1 4 31 5.6 +1.0
FXL First Trust Technology AlphaDEX Fund 23.1 61 -26 3.5 -1.1
SPXV ProShares S&P 500 Ex-Health Care ETF 22.9 27 8 5.3 +0.7
SCHX Schwab U.S. Large-Cap ETF 22.9 3 32 5.5 +0.9
VOO VANGUARD S&P 500 ETF 22.9 3 32 5.6 +1.0
DYNF BlackRock U.S. Equity Factor Rotation ETF 22.7 30 5 6.9 +2.3
JHML John Hancock Multifactor Large Cap ETF 22.5 34 1 5.7 +1.1
JMOM JPMorgan U.S. Momentum Factor ETF 22.5 12 23 4.0 -0.6
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 22.5 49 -14 5.7 +1.1
QUS SPDR MSCI USA StrategicFactors ETF 22.5 15 20 5.9 +1.3
IWP iShares Russell Mid-Cap Growth ETF 22.4 24 11 4.4 -0.2
IWB iShares Russell 1000 ETF 22.4 15 20 5.4 +0.8
SCHK Schwab 1000 Index ETF 22.4 5 30 5.5 +0.9
MMTM SPDR S&P 1500 Momentum Tilt ETF 22.3 12 23 5.2 +0.6
VONE Vanguard Russell 1000 ETF 22.3 8 27 5.5 +0.9
FVL First Trust Value Line 100 Exchange-Traded Fund 22.3 70 -35 4.1 -0.5
QSY WisdomTree U.S. LargeCap Value Fund 22.3 38 -3 6.9 +2.3
IYY iShares Dow Jones U.S. ETF 22.2 20 15 5.4 +0.8
XLK Technology Select Sector SPDR Fund 22.1 13 22 5.1 +0.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 22.1 19 16 5.8 +1.2
ESGU iShares MSCI USA ESG Optimized ETF 22.0 15 20 5.3 +0.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 21.8 20 15 5.2 +0.6
CACG ClearBridge All Cap Growth ETF 21.8 54 -19 4.6 -0.0
SPTM SPDR Portfolio Total Stock Market ETF 21.7 3 32 5.7 +1.1
VGT Vanguard Information Technology Index Fund 21.7 10 25 4.9 +0.3
KRMA Global X Conscious Companies ETF 21.7 43 -8 5.4 +0.8
IUS Invesco Strategic US ETF 21.6 19 16 6.4 +1.8
AVUS Avantis U.S. Equity ETF 21.6 15 20 6.0 +1.4
SCHB Schwab U.S. Broad Market ETF 21.5 3 32 5.5 +0.9
FTEC Fidelity MSCI Information Technology Index ETF 21.5 8 27 4.9 +0.3
QLC FlexShares US Quality Large Cap Index Fund 21.5 32 3 5.6 +1.0
VTI Vanguard Total Stock Market Index Fund 21.5 3 32 5.4 +0.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 21.5 3 32 5.4 +0.8

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 20.7 %
Divided by: Fwd. P/BV 4.2 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 4.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.52
 
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.