ETF Watch: More Vanguard ETFs See Fees Reduced

February 24, 2017

Direxion Plans ‘Relative Performance’ Funds

A recent filing from Direxion outlines the firm’s plans for 20 different ETFs that provide exposure to a variety of strategies. The document covers eight ETFs that use the relative performance approach as well as another eight funds that track the same indexes but offer 200% leveraged exposure. The filing also includes another four ETFs tracking assorted indexes.

Relative Performance Funds

The Direxion Daily Value/Growth Relative Performance ETF tracks an index that measures the performance of the Russell 1000 Value Index relative to the Russell 1000 Growth Index, essentially representing a long position in the former and a short position in the latter. The index is reset on a daily basis. The fund comes with an expense ratio of 0.75%.

Meanwhile, the Direxion Daily Value/Growth Relative Performance 2X ETF offers two times the performance of the same underlying long/short index on a daily basis and charges an expense ratio of 1.05%. In all, there are seven more pairs of similar funds included in the filing. The ETFs and their expense ratios are as follows:

  • Direxion Daily Growth/Value Relative Performance ETF, 0.75%
  • Direxion Daily Growth/Value Relative Performance 2X ETF, 1.05%
  • Direxion Daily Small/Large Cap Relative Performance ETF, 0.75%
  • Direxion Daily Small/Large Cap Relative Performance 2X ETF, 1.05%
  • Direxion Daily Large/Small Cap Relative Performance ETF, 0.74%
  • Direxion Daily Large/Small Cap Relative Performance 2X ETF, 1.04%
  • Direxion Daily Emerging/Developed Relative Performance ETF, 0.88%
  • Direxion Daily Emerging/Developed Relative Performance 2X ETF, 1.18%
  • Direxion Daily Developed/Emerging Relative Performance ETF, 0.78%
  • Direxion Daily Developed/Emerging Relative Performance 2X ETF, 1.08%
  • Direxion Daily Defensive/Cyclicals Relative Performance ETF, 0.70%
  • Direxion Daily Defensive/Cyclicals Relative Performance 2X ETF, 1.00%
  • Direxion Daily Cyclicals/Defensive Relative Performance ETF, 0.70%
  • Direxion Daily Cyclicals/Defensive Relative Performance 2X ETF, 1.00%

 

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