Direxion MSCI Emerging Over Developed Markets ETF (RWED)
Direxion MSCI Emerging Over Developed Markets ETF operates in the Asset Management industry of the Financial Services sector, headquartered in US. The stock last traded at $51.88, down 6.29% on the session, giving a market capitalisation of $5.9M. Its beta of 0.00 implies it has historically moved less than the broad market.
This exchange-traded fund (ETF) seeks to replicate the returns of the MSCI Emerging Markets IMI - EAFE IMI 150/50 Return Spread Index, prior to deducting any management fees or operational expenses. Under typical market conditions, the fund commits a minimum of 80% of its total net assets (which may include capital acquired through borrowing for investment purposes) to either the individual securities or shares of other ETFs that constitute the index's "Long Component." The reference index itself is structured to reflect a portfolio with a 150% long exposure to the MSCI Emerging Markets IMI Index (designated as the "Long Component") and a concurrent 50% short exposure to the MSCI EAFE IMI Index (referred to as the "Short Component"). It should be noted that this fund is categorized as non-diversified.
Direxion MSCI Emerging Over Developed Markets ETF is most often compared with the following Financial Services names: