Non-Leveraged ETFs

Direxion NASDAQ-100 Equal Weighted Index Shares

looking for a NASDAQ ETF? Let the whole index carry its weight, with QQQE, the NASDAQ-100 Equal Weighted Index ETF. This NASDAQ-100 ETF seeks to provide a way to manage risk in your portfolio by further diversifying beyond technology sector stocks, and may allow for greater performance contribution from companies with smaller market capitalization
  • Tickers:

     QQQE
  • CUSIP:

     25459Y207
  • Objective:

     The Direxion NASDAQ-100® Equal Weighted Index Shares seeks investment results, before fees and expenses, that track the NASDAQ-100® Equal Weighted Index.
Symbol Fund Index/Benchmark Daily/Monthly Target Bloomberg Index Symbol
Long Term Investment
ETFs
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares NASDAQ-100® Equal Weighted Index - NDXE
Mutual Funds
Short Term TradingAre Direxion Shares ETFs for you?
ETFs
Mutual Funds
Monthly
Quarterly (standardized)

    All Data as of 3/31/2014

    All Data as of 3/31/2014

Symbol Fund 1 Month
(%)
3 Month
(%)
YTD
(%)
1 Year
(%)
3 Year
(%)
5 Year
(%)
10 Year
(%)
Since
Inception
Inception
Date
Expense Ratio *
(Gross/Net %)
Long Term Investment
ETFs
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares NAV -2.89 2.49 2.49 28.75 - - - 18.47 3/21/2012 2.88 / 0.35
Market
Close
-2.77 2.54 2.54 29.13 - - - 18.51 3/21/2012 2.88 / 0.35
Mutual Funds
Short Term Trading
ETFs
Mutual Funds
Symbol Fund 1 Month
(%)
3 Month
(%)
YTD
(%)
1 Year
(%)
3 Year
(%)
5 Year
(%)
10 Year
(%)
Since
Inception
Inception
Date
Expense Ratio *
(Gross/Net %)
Long Term Investment
ETFs
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares NAV -2.89 2.49 2.49 28.75 - - - 18.47 3/21/2012 2.88 / 0.35
Market
Close
-2.77 2.54 2.54 29.13 - - - 18.51 3/21/2012 2.88 / 0.35
Mutual Funds
Short Term Trading
ETFs
Mutual Funds

* For ETFs, the advisor, Rafferty Asset Management, LLC has contractually agreed to waive all or a portion of its management fee and/or reimburse the fund for other expenses through September 1, 2015.

** The expenses are estimated based on projected assets. Please see prospectus for details (from the prospectus dated 3/21/14).

The performance data quoted represents past performance net of annual expenses but gross of any sales charge. The performance shown does not reflect the sales charge, therefore, the effect of the sales charge would reduce the performance shown. 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 less than one year are cumulative, not annualized. 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. For the most recent performance, see the “Performance” tab above or call (877) 437-9363.

Shares of DirexionShares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods shown. Absent these waivers, results would have been less favorable.


Symbol Fund NAV
(4/23/2014)
NAV
Change
($)
NAV
Change
(%)
Market Price Closing
(4/23/2014)
Market Price Closing Change
($)
Market Price Closing Change
(%)
Premium/
Discount
Long Term Investment
ETFs
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares 54.47 $-0.42 -0.76% 54.46 $-0.41 -0.75% -0.01
Mutual Funds
Short Term Trading
ETFs
Mutual Funds

The performance data quoted represents past performance net of annual expenses but gross of any sales charge. The performance shown does not reflect the sales charge, therefore, the effect of the sales charge would reduce the performance shown. 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 less than one year are cumulative, not annualized. 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. For the most recent performance, see the “Performance” tab above or call (877) 437-9363.

Shares of DirexionShares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods shown. Absent these waivers, results would have been less favorable.

Symbol Fund Record Date Ex-Date Pay Date Income Dividend Short Term Capital Gain Long Term Capital Gain
Long Term Investment
ETFs
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares 3/27/2014 3/25/2014 4/1/2014 0.33101000 - 0.000
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares 9/19/2013 9/17/2013 9/24/2013 0.07965000 - -
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares 6/20/2013 6/18/2013 6/25/2013 0.09619000 - -
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares 3/21/2013 3/19/2013 3/26/2013 0.02920 - -
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares 12/20/2012 12/18/2012 12/26/2012 0.17640 - -
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares 9/21/2012 9/19/2012 9/26/2012 0.2349 - -
QQQE Direxion NASDAQ-100® Equal Weighted Index Shares 6/22/2012 6/20/2012 6/27/2012 0.08312 - -
Mutual Funds
Short Term Trading
ETFs
Mutual Funds
Symbol Fund Index/Benchmark Monthly Target Estimated Current
Exposure Level *
Domestic
DXSLX Monthly S&P 500® Bull 2x Fund S&P 500® 200% 200%
DXSSX Monthly S&P 500® Bear 2x Fund S&P 500® -200% 200%
DXQLX Monthly NASDAQ 100® Bull 2x Fund NASDAQ 100® 200% 200%
DXRLX Monthly Small Cap Bull 2x Fund Russell 2000® 200% 200%
DXRSX Monthly Small Cap Bear 2x Fund Russell 2000® -200% 200%
International
DXZLX Monthly Latin America Bull 2x Fund S&P® Latin America 40 200% 200%
DXHLX Monthly China Bull 2x Fund FTSE/Xinhua China 25 Index 200% 200%
DXELX Monthly Emerging Markets Bull 2x Fund MSCI Emerging Markets Index SM 200% 200%
Fixed Income
DXKLX Monthly 7-10 Year Treasury Bull 2x Fund NYSE 7-10 Year Treasury Bond Index 200% 200%
DXKSX Monthly 7-10 Year Treasury Bear 2x Fund NYSE 7-10 Year Treasury Bond Index -200% 200%
DXCBX Indexed Synthetic Convertible Strategy Fund QES Synthetic Convertible Index -
DXCVX Indexed Synthetic Convertible Strategy Bear Fund QES Synthetic Convertible Index -
Commodity
DXCLX Monthly Commodity Bull 2x Fund Morgan Stanley® Commodity Related Index 200% 200%
Currency
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Overview

Key Benefits

QQQE provides equal-weight exposure to all NASDAQ-100 index holdings, allowing you an opportunity to manage risk in your portfolio through:

  • Broader diversification beyond technology sector stocks which may help reduce concentration risk
  • Greater performance contribution from companies with smaller market capitalization
  • Quarterly rebalancing for consistent equal-weighting, after regular market fluctuations

The Strategy at Work

Performance contribution in market weighted indexes such as the S&P 500 Index or NASDAQ-100 Index is typically driven by a small number of very large companies with market caps that are considerably higher than the average. Most of the other stocks in the index are typically below the average weight of the index.

By contrast The NASDAQ-100 Equal Weighted Index allots the same weight, or importance, to each stock in the index.

The result is a more diversified performance contribution from the individual companies, and sectors that are in the index.

The pie chart below shows how market-cap weighting in the NASDAQ-100 Index concentrates exposure to specific companies and sectors, which affects the diversification, and risk properties of the index.

Top Ten Holdings (%) of the NASDAQ® by market cap vs. the same holdings in the NASDAQ® 100 Eq Weighted

NASDAQ-100® Equal Weight Index (NDXE)   NASDAQ-100® Index (NDX)    
Holdings Weighting (%)   Holdings Weighting (%)   Difference (%)
Apple Inc 1.00   Apple Inc 11.92   -10.92
Microsoft Corp 1.00   Microsoft Corp 8.47   -7.47
Google Inc 1.00   Google Inc 7.77   -6.77
Amazon.com Inc 1.00   Amazon.com Inc 3.85   -2.85
QUALCOMM Inc 1.00   QUALCOMM Inc 3.32   -2.32
Intel Corp 1.00   Intel Corp 3.20    -2.20
Facebook 1.00   Facebook 2.96   -1.96
Cisco Systems Inc 1.00   Cisco Systems Inc 2.87   -1.87
Gilead Sciences Inc 1.00   Gilead Sciences Inc 2.71    -1.71
Comcast Corp 1.00   Comcast Corp 2.66    -1.66

Source: Bloomberg. Data as of 3/31/2014.

For the Direxion NASDAQ-100® Equal Weighted Index, the sector weight is simply a direct function of the number of companies in the sector. The table below demonstrates the difference in weighting between the NASDAQ 100 Market Cap Weighted Index and the Equal Weighted Index. Equal weighting allows increased exposure to 6 of the 7 sectors in the index, as well as decreased exposure to the Information Technology sector.

 

NASDAQ-100® Equal Weight Index (NDXE)   NASDAQ-100® Index (NDX)    
Sectors Weighting (%)   Sectors Weighting (%)   Difference (%)
Information Technology 42.00   Information Technology 58.23   -16.23
Consumer Discretionary 28.00   Consumer Discretionary 19.84   +8.16
Health Care 14.00   Health Care 13.90   +0.10
Consumer Staples  6.00   Consumer Staples 4.76   +1.24
Industrials 6.00   Industrials 1.85   +4.15
Telecomm. Services 3.00   Telecomm. Services 1.14   +1.86
Materials 1.00   Materials 0.28   +0.72

 Source: Bloomberg. Data as of 3/31/2014.

Target Index

Target Index 

The NASDAQ 100 Equal Weighted Index includes 100 of the largest non-financial securities listed on NASDAQ®, but instead of being weighted by market capitalization, each of the constituents is initially set at 1.00%. The index is reviewed and adjusted annually in December, but replacements may be made any time throughout the year. The index is rebalanced quarterly in March, June, September and December. One cannot invest in an index.

Index Sector Weightings (%)
(as of 3/31/2014)

Information Technology 42.0%
Consumer Discretionary 28.0%
Industrials 14.0%
Health Care 6.0%
Consumer Staples 6.0%
Telecommunication Services 3.0%
Materials 1.0%

 

Fund Literature

Fund Literature

Download fund literature and regulatory documents

Related Materials

 

VIDEO: Understading QQQE

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Daily Holdings

Daily Holdings

Click to view the Daily Holdings (csv)