Top sectors include: energy 21.24%, financials 22.12% and consumer discretionary 17.35%.

Both indices try to reflect the positive sentiment among “insiders” closest to a company’s financials and business prospects, including top managers, directors, large institutional holders and Wall Street analysts who track the company. The ETFs use a screen to take out companies from the S&P Indices that engage in aggressive accounting, and then look at public filings, increases in holdings by company insiders and positive earnings analyses.

The two new funds have an expense ratio of 0.65%.

“We are committed to providing advisors and investors with the opportunity to invest in buy-and-hold equity strategies that allow them to differentiate themselves within the marketplace” Ed Egilinsky, Managing Director and Head of Alternatives at Direxion, said in a press release. “Investors are always looking for ways to try and generate excess returns within their equity portfolios. These equity indices are unique in that they are not constrained by either style box or sector allocation limitations, as are the majority of typical equity investments.”

For more information on new launches, visit our new ETFs category.

Max Chen contributed to this article.