QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares
Direxion NASDAQ-100 Equal Weighted Index Shares is an exchange-traded fund incorporated in the USA. The Fund seeks daily investment results, before fees and expenses, that correspond to the daily performance of the NASDAQ 100 Equal Weighted Index.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
1.4 B
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | Rafferty Asset Management LLC |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 21, 2012 |
| Assets (mns) | $1,399 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | NASDAQ - Listed |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| CHARTER COMMUNICATIONS, INC. CLASS A | 1.3 % |
| TESLA MOTORS INC | 1.2 % |
| WARNER BROS. DISCOVERY, INC. SERIES A | 1.2 % |
| OLD DOMINION FREIGHT LINE | 1.2 % |
| BAKER HUGHES COMPANY CLASS A | 1.2 % |
| ILLUMINA INC | 1.2 % |
| MONGODB, INC. CLASS A | 1.1 % |
| AMERICAN ELECTRIC POWER | 1.1 % |
| ATLASSIAN CORP. CLASS A | 1.1 % |
| AMGEN INC | 1.1 % |
Constituent Breakdown
| Number of holdings | 102 |
| Herfindahl-Hirschman Index | 101 |
| Wgt avg mkt cap (mns) | $232,988 |
| Large cap (>$10bn) | 100.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.7% |
| Emerging mkts. | 1.3% |
Country Exposure
 |
UNITED STATES | 91.0 % |
 |
BRITAIN | 4.0 % |
 |
NETHERLANDS | 1.8 % |
 |
AUSTRALIA | 1.1 % |
 |
ARGENTINA | 1.1 % |
 |
CHINA | 0.9 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.8% | 26.0% | 19.2% | 2.7% | 13.3% | 12.5% | 14.1% | Volatility | 14.6% | 14.8% | 17.4% | 21.9% | 23.9% | 20.4% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.06 | 90% |
| MSCI EAFE | 0.92 | 70% |
| MSCI Emg Mkts | 0.76 | 46% |
Liquidity Measures
| Avg. volume (000) | 335 |
| Turnover | 2.2% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $171,595 |
Technical Indicators
| Recent close | $93.26 |
| 30d moving avg. | $90.46 |
| Annualized volatility | 19.4% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 16.9% |
| Short interest (underlying) | 2.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. QQQE |
Expenses vs. QQQE |
ALTAR Score™ vs. QQQE |
|---|---|---|---|---|
| QQEW | First Trust Nasdaq-100 Equal Weighted Index Fund | 91.9% | +23 bp | +0.5% |
| QNXT | iShares Nasdaq-100 ex Top 30 ETF | 62.0% | -15 bp | +0.6% |
| QQXT | First Trust Nasdaq-100 Ex-Technology Sector Index Fund | 57.5% | +25 bp | +0.1% |
| QQQ | Invesco QQQ Trust Series I | 51.9% | -15 bp | +0.0% |
| QQQM | Invesco NASDAQ 100 ETF | 51.9% | -20 bp | +0.1% |
| QQMG | Invesco ESG NASDAQ 100 ETF | 50.4% | -15 bp | +0.2% |
| QQQG | Pacer Nasdaq 100 Top 50 Cash Cows Growth Leaders ETF | 47.2% | +14 bp | +0.4% |
| QTEC | First Trust NASDAQ-100 Technology Sector Index Fund | 40.4% | +22 bp | +1.3% |
| CHGX | AXS Change Finance ESG ETF | 36.6% | +14 bp | +0.7% |
| ONEQ | Fidelity Nasdaq Composite Index ETF | 34.5% | -14 bp | -0.7% |
Risk and Returns: QQQE vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/21/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
QQQE
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
QQQE
4.5%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. QQQE's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places QQQE in the 36th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
QQQESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| QQQE (35 bp) Percentile rank | 37 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| QQQE | 35.0 | 4.4 | 39.4 |
| Peer Avg. | 35.7 | 15.0 | 50.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .