Direxion Moonshot Innovators ETF
MOON
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ROIC.AI
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- Direxion Moonshot Innovators ETF (MOON) is an exchange-traded fund that seeks investment results, before fees and expenses, tracking the performance of the S&P Kensho Moonshots Index, which comprises 50 U.S.-listed companies pursuing innovative and disruptive technologies across themes including biotechnology, application software, smart transportation, clean power, genetic engineering, autonomous vehicles, and human evolution; the index selects constituents based on the highest early-stage composite innovation scores derived from natural language processing of regulatory filings for innovation-related terminology and the ratio of research and development expenses to revenue, with modified equal-weighting adjusted for liquidity, industry group, and diversification constraints, reconstituted annually and rebalanced semi-annually. The fund emphasizes mid- and small-cap innovators, excluding mega-cap technology names, with sector allocations including information technology (32.07%), health care (29.17%), industrials (11.58%), financials (11.25%), and communication services (8.95%) as of March 31, 2024; top holdings feature Avidity Biosciences, 4D Molecular Therapeutics, Coinbase Global, Robinhood Markets, and Rumble, spanning sub-themes like biotechnology (27.77%), application software (12.17%), and IT services (8.48%). Geographically focused on U.S. operations with minor exposures to China, Israel, Germany, the United Kingdom, Switzerland, and Canada, the ETF operates in the equity innovative technology segment, targeting investors seeking satellite holdings for exposure to moonshot objectives in public equity markets. Launched on November 12, 2020, by Direxion Shares ETF Trust and managed by Rafferty Asset Management, LLC, with headquarters at 535 Madison Avenue, New York, the fund maintains a net expense ratio of 0.65% and trades on NYSE Arca. In a major recent development, Direxion Shares ETF Trust announced the liquidation of MOON on June 21, 2024, with trading suspended and the last exchange trading day set for July 19, 2024.