“This strategic beta ETF allows investors to have unprecedented access to the strategies successfully deployed by well-known billionaires, in a way that’s transparent, liquid and cost-efficient,” said Brian Jacobs, President of Direxion Investments, in the statement. “We look forward to continuing to harness our index-replication expertise to further democratize Wall Street—providing greater access to opportunities and data previously only available to the wealthiest and most sophisticated investors.”
Top-10 holdings in IBLN include a 4.1% weight to Williams Cos. (NYSE: WMB), a 3.9% allocation to Micron Technology (NasdaqGS: MU) and an almost 3.7% weight to Halliburton (NYSE: HAL). Other members of the new ETF’s top-10 lineup include Apple (NasdaqGS: AAPL), Priceline (NasdaqGS: PCLN) and Anadarko Petroleum (NYSE: APC), according to Direxion data.
IBLN is the fourth new ETF brought to market this week by Direxion. Earlier this week, the firm launched the Direxion Daily 7-10 Treasury Bull 2x Shares (NYSEArca: SYTL), Direxion Daily Small Cap Bull 2x Shares (NYSEArca: SMLL) and the Direxion Daily Mid Cap Bull 2x Shares (NYSEArca: MDLL).
ETF Trends editorial team contributed to this post.