Direxion is not the first issuer to file plans for another cyber security ETF. First Trust, the sixth-largest U.S. issuer of exchange traded funds, has filed plans for a cyber security ETF, the First Trust NASDAQ CEA Cybersecurity ETF.

While Direxion’s leveraged offerings could easily find a following among active traders, competing head-to-head with HACK, as the First Trust cyber security ETF would do, could prove to be a tough competition for new arrivals.

HACK’s first mover advantage is cemented. As a result, the fund has superior brand recognition in the cyber security fund space. That much is confirmed by the ETF’s nearly $1.2 billion in assets under management, a total it took HACK less than eight months of trading to reach. [Cyber Security ETF tops $1 Billion in Assets]

PureFunds ISE Cyber Security ETF

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