In a break from its normal product line, Direxion, an exchange traded fund provider known for its leveraged and inverse products, recently launched two new “smart-beta” insider sentiment ETFs.
Direxion All Cap Insider Sentiment Shares ETF (NYSEArca: KNOW) tries to reflect the performance of the Sabrient Multi-Cap Insider/Analyst Quant-Weighted Index, which follows a quantitative rules-based equity index that tries to provide alpha, or excess return, relative to the S&P 1500 index. KNOW holds the top 100 companies in the S&P 1500 based on a proprietary methodology.
Top holdings include: Lincoln National (NYSE: LNC) 2.60%, Stone Energy (NYSE: SGY) 2.55% and MetLife (NYSE: MET) 2.5%.
Top sectors include: energy 23.99%, financials 19.56% and information technology 14.79%.
Direxion Large Cap Insider Sentiment Shares ETF (NYSEArca: INSD) tries to reflect the performance of the Sabrient Large-Cap Insider/Analyst Quant-Weighted Index, which follows a quantitative rules-based index that tries to provide alpha, or excess return, relative to the S&P 500 index. INSD holds the top 100 companies in the S&P 500 based on a proprietary methodology.
Top holdings include: Lincoln National (NYSE: LNC) 2.60%, MetLife (NYSE: MET) 2.55% and Valero Energy (NYSE: VLO) 2.5%.