Billionaire ETF to Debut Friday

Earlier this year, the firm introduced the Direxion Zacks MLP High Income Shares (NYSEArca: ZMLP). Other non-leveraged offerings from Direxion include the Direxion NASDAQ-100 Equal Weighted Index Shares (NYSEArca: QQQE) and the Direxion All Cap Insider Sentiment Shares (NYSEArca: KNOW). [Get in the KNOW With This ETF]

The iBillionaire ETF will compete with the Global X Guru Index ETF (NYSEArca: GURU) and the AlphaClone Alternative Alpha ETF (NYSEArca: ALFA), which use 13F filings as the basis for their index holdings.

GURU has $501.6 million in assets under management and the success of that ETF sparked the introduction of international and small-cap equivalents, the Global X Guru Small Cap Index ETF (NYSEArca: GURX) and the Global X Guru International Index ETF (NYSEArca: GURI). Those ETFs debuted in March.


ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Apple.