Direxion Work From Home ETF
ALTAR
Score™
5.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
30.1x P/Sales
ratio
2.3x
P/BV
ratio
5.0x Div.
yield
0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
WFH tracks an equally-weighted index of global firms that provides work from home capabilities. Stocks are selected using proprietary natural language processing algorithm.

FUND BASICS
Category US Equities
Fund Sponsor Rafferty Asset Management
Website www.direxion.com
Inception date Jun 25, 2020
Assets (mns) $147
Currency USD
Expense ratio 45 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 40
Wgt avg mkt cap (mns) $175,516
Large cap (>$10bn) 59.1%
Mid cap ($2-10bn) 18.8%
Small cap (<$2bn) 22.1%
Developed mkts 94.6%
Emerging mkts 5.4%

TOP TEN HOLDINGS
PLANTRONICS INC 5.4 %
XEROX CORP 2.9 %
SLACK TECHNOLOGIES, INC. CLASS A 2.9 %
TWILIO, INC. CLASS A 2.9 %
AMERICA MOVIL SAB DE CV SPONSORED 2.8 %
8X8, INC. 2.8 %
AVAYA HOLDINGS CORP. 2.8 %
ATLASSIAN CORP. PLC CLASS A 2.8 %
PALO ALTO NETWORKS INC 2.7 %
HEWLETT PACKARD ENTERPRISE CO. 2.7 %
Total 30.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.0 %
MEXICO 2.8 %
BRITAIN 2.8 %
CHINA 2.2 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
20.1% -- -- -- 20.1%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $61.43
30d moving avg. $57.33
Annualized volatility 0.0%
Short interest (ETF) 0.6%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 62
Turnover 2.6%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $47,129

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Direxion Work From Home ETF ETF based on the alternatives' overlap in portfolio holdings with WFH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: WFH Expense: 45 bp ALTAR Score™: 5.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH WFH
Ticker Fund
Name
Overlap1
vs WFH
(%)
Expense
ratio
(bp)
Savings
vs WFH
(bp)
ALTAR
Score™
(%)
ALTAR
vs WFH
(%)
SKYY First Trust Cloud Computing ETF 34.6 60 -15 2.0 -3.2
OGIG O'Shares Global Internet Giants ETF 24.8 48 -3 0.7 -4.5
AIQ Global X Future Analytics Tech ETF 24.6 68 -23 3.8 -1.4
XNTK SPDR NYSE Technology ETF 24.0 35 10 3.2 -2.0
ENTR Entrepreneur 30 Fund 23.4 49 -4 1.0 -4.2
TECB iShares US Tech Breakthrough Multisector ETF 22.7 40 5 3.9 -1.4
ALFA AlphaClone Alternative Alpha ETF 21.7 65 -20 -0.5 -5.7
JHMT John Hancock Multifactor Technology ETF 21.0 40 5 4.4 -0.9
FXL First Trust Technology AlphaDEX Fund 21.0 61 -16 3.7 -1.6
FDN First Trust Dow Jones Internet Index Fund 20.8 52 -7 1.8 -3.4
IYW iShares U.S. Technology ETF 20.3 43 2 3.7 -1.5
IETC iShares Evolved U.S. Technology ETF 19.4 18 27 3.6 -1.6
IGV iShares Expanded Tech-Software ETF 19.3 46 -1 2.2 -3.0
IGM iShares Expanded Tech Sector ETF 19.2 46 -1 3.6 -1.6
CIBR First Trust NASDAQ CEA Cybersecurity ETF 18.9 60 -15 3.1 -2.1
CLOU Global X Cloud Computing ETF 18.7 68 -23 0.5 -4.7
IHAK iShares Cybersecurity & Tech ETF 18.5 47 -2 3.7 -1.5
XITK SPDR FactSet Innovative Technology ETF 17.7 45 0 0.5 -4.8
HACK ETFMG Prime Cyber Security ETF 17.4 60 -15 3.1 -2.1
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 16.9 57 -12 4.6 -0.7
SYG SPDR MFS Systematic Growth Equity ETF 16.5 60 -15 4.1 -1.2
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 16.1 75 -30 4.0 -1.3
CACG ClearBridge All Cap Growth ETF 15.8 54 -9 4.1 -1.2
BUG Global X Cybersecurity ETF 15.8 50 -5 1.2 -4.0
ANEW ProShares MSCI Transformational Changes ETF 15.6 45 0 3.1 -2.1
IWFH iShares Virtual Work and Life Multisector ETF 15.5 47 -2 0.8 -4.4
SPQQ Siren Large Cap Blend Index ETF 15.4 20 25 4.5 -0.8
FDG American Century Focused Dynamic Growth ETF 15.1 45 0 1.5 -3.7
QYLD Global X NASDAQ 100 Covered Call ETF 15.1 60 -15 3.4 -1.9
CCON Direxion Connected Consumer ETF 15.0 45 0 1.4 -3.8
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 14.9 60 -15 3.4 -1.8
NUSI Nationwide Risk-Managed Income ETF 14.9 68 -23 3.6 -1.7
QQQM Invesco NASDAQ 100 ETF 14.8 15 30 3.8 -1.5
QQQ Invesco QQQ Trust 14.8 20 25 3.7 -1.5
LRNZ TrueMark Technology, AI & Deep Learning ETF 14.7 68 -23 0.1 -5.1
FDMO Fidelity Momentum Factor ETF 14.6 29 16 3.2 -2.1
BLCN Reality Shares Nasdaq NextGen Economy ETF 14.6 68 -23 5.2 -0.1
WUGI Esoterica NextG Economy ETF 14.5 75 -30 1.3 -3.9
SFYF SoFi 50 ETF 14.5 29 16 1.0 -4.2
ARKF ARK Fintech Innovation ETF 14.5 75 -30 0.3 -4.9
ARKW ARK Web x.0 ETF 14.4 76 -31 -0.8 -6.0
MMLG First Trust Multi-Manager Large Growth ETF 14.4 85 -40 2.0 -3.2
TDV ProShares S&P Technology Dividend Aristocrats ETF 14.4 46 -1 4.5 -0.8
PNQI Invesco NASDAQ Internet ETF 14.2 60 -15 1.2 -4.1
THNQ ROBO Global Artificial Intelligence ETF 14.2 68 -23 1.5 -3.8
PXQ Invesco Dynamic Networking ETF 14.2 63 -18 3.1 -2.1
FTEC Fidelity MSCI Information Technology Index ETF 14.2 8 37 4.2 -1.0
VGT Vanguard Information Technology Index Fund 14.0 10 35 4.2 -1.0
TDIV First Trust NASDAQ Technology Dividend Index Fund 13.9 50 -5 6.3 +1.1
SCHG Schwab U.S. Large-Cap Growth ETF 13.8 4 41 3.4 -1.8
XLG Invesco S&P 500 Top 50 ETF 13.8 20 25 4.3 -0.9
IWF iShares Russell 1000 Growth ETF 13.7 19 26 3.6 -1.6
QGRO American Century STOXX U.S. Quality Growth ETF 13.7 29 16 3.1 -2.1
QLC FlexShares US Quality Large Cap Index Fund 13.7 32 13 4.9 -0.3
LCG Sterling Capital Focus Equity ETF 13.7 59 -14 2.4 -2.8
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 13.6 21 24 2.9 -2.4
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 13.6 12 33 4.6 -0.7
KOIN Innovation Shares NextGen Protocol ETF 13.6 95 -50 4.1 -1.1
VONG Vanguard Russell 1000 Growth Index Fund 13.5 8 37 3.8 -1.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 13.5 15 30 5.9 +0.7
GVIP Goldman Sachs Hedge Industry VIP ETF 13.5 45 0 3.5 -1.8
GIGE SoFi Gig Economy ETF 13.4 59 -14 -0.6 -5.8
IWY iShares Russell Top 200 Growth ETF 13.3 20 25 3.8 -1.4
ESGV Vanguard ESG U.S. Stock ETF 13.1 12 33 4.7 -0.5
VEGN US Vegan Climate ETF 13.0 60 -15 4.7 -0.5
EXT WisdomTree U.S. Total Earnings Fund 13.0 28 17 5.2 0.0
XSW SPDR S&P Software & Services ETF 13.0 35 10 4.1 -1.1
VUG Vanguard Growth Index Fund 13.0 4 41 3.7 -1.5
LRGE ClearBridge Large Cap Growth ESG ETF 12.9 59 -14 3.6 -1.7
RYT Invesco S&P 500 Equal Weight Technology ETF 12.8 40 5 6.1 +0.9
MGK Vanguard Mega Cap Growth ETF 12.7 7 38 3.9 -1.4
JQUA JPMorgan U.S. Quality Factor ETF 12.7 12 33 5.2 -0.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 12.6 60 -15 3.8 -1.4
SLT Pacer Salt High TruBeta US Market ETF 12.5 60 -15 3.1 -2.2
FVAL Fidelity Value Factor ETF 12.3 29 16 7.3 +2.1
IWL iShares Russell Top 200 ETF 12.3 15 30 4.6 -0.6
XTL SPDR S&P Telecom ETF 12.3 35 10 4.3 -0.9
OEF iShares S&P 100 ETF 12.1 20 25 4.5 -0.7
FITE SPDR Kensho Future Security ETF 12.0 45 0 3.6 -1.6
MGC Vanguard Mega Cap Index Fund 12.0 7 38 4.8 -0.4
JKH iShares Morningstar Mid-Cap Growth ETF 12.0 30 15 1.9 -3.3
SFY SoFi Select 500 ETF 11.9 0 45 4.8 -0.5
EPS WisdomTree U.S. Earnings 500 Fund 11.9 8 37 6.0 +0.8
MTUM iShares MSCI USA Momentum Factor ETF 11.9 15 30 4.0 -1.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 11.8 7 38 4.8 -0.4
SPXV ProShares S&P 500 Ex-Health Care ETF 11.7 27 18 4.6 -0.6
SPXN ProShares S&P 500 Ex-Financials ETF 11.7 27 18 4.6 -0.6
VOOG Vanguard S&P 500 Growth ETF 11.7 10 35 4.1 -1.1
XLK Technology Select Sector SPDR Fund 11.7 13 32 4.5 -0.7
ESGU iShares MSCI USA ESG Optimized ETF 11.7 15 30 4.7 -0.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 11.6 2 43 4.9 -0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 11.6 0 45 4.8 -0.4
STLG iShares Factors US Growth Style ETF 11.6 25 20 4.2 -1.0
SPYG SPDR Portfolio S&P 500 Growth ETF 11.6 4 41 4.2 -1.0
IVW iShares S&P 500 Growth ETF 11.6 18 27 4.1 -1.2
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 11.6 99 -54 1.5 -3.8
PBUS Invesco PureBeta MSCI USA ETF 11.6 4 41 4.8 -0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 11.5 9 36 5.3 +0.0
VV Vanguard Large-Cap Index Fund 11.5 4 41 4.8 -0.4

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 Work From Home ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 24.3 %
Divided by: Fwd. P/BV 4.3 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 CATEGORY
AVERAGE
1.49
 
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.