Direxion MSCI Defensives Over Cyclicals ETF
RWDC
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- Jan 16, 2019
- CIK
- 0001424958
- Similar Companies
- Business
- Direxion MSCI Defensives Over Cyclicals ETF (RWDC) is an exchange-traded fund that seeks investment results corresponding to 150% long exposure to the MSCI USA Defensive Sectors Index and 50% short exposure to the MSCI USA Cyclical Sectors Index before fees and expenses, resulting in a benchmark known as the MSCI USA Defensives Over Cyclicals 150/50 Return Spread Index; the defensive sectors include healthcare, consumer staples, utilities, and real estate, while cyclical sectors encompass consumer discretionary, information technology, communication services, industrials, materials, energy, and financials. RWDC provides investors with a relative value strategy designed to outperform when defensive stocks exceed the performance of cyclical stocks, utilizing derivatives such as swaps on ETFs tracking the underlying indices rather than direct equity holdings. The ETF trades on the NYSE Arca exchange and targets institutional and retail investors seeking tactical sector rotation opportunities within the U.S. equity market. Issued by Direxion Shares ETF Trust and managed by Rafferty Asset Management, LLC—a subsidiary of Rafferty Holdings—RWDC operates within the broader leveraged and inverse ETF segment offered by Direxion, which specializes in targeted exposure products. Direxion, founded in 1997 and headquartered in New York with additional offices in Boston and Hong Kong, oversees approximately $50.6 billion in assets under management as of June 30, 2025, positioning it among the top 20 global ETF providers by AUM. The ETF launched on January 16, 2019, and primarily serves U.S.-focused investors through its net exposure equivalent to 100% of assets in the targeted sector pairs. In recent developments, Direxion has expanded its single-stock leveraged and inverse ETF lineup throughout 2025, launching products providing exposure to companies such as Ford (July), Cisco and Qualcomm (June), Boeing and Exxon Mobil (April), Eli Lilly and Palo Alto Networks (March), and Berkshire Hathaway and Palantir (December 2024), alongside appointing Mo Sparks as Chief Product Officer in April 2025; however, RWDC itself faced challenges with low assets under management, prompting Direxion to announce the closure of RWDC and its counterpart RWCD, along with RWLS, effective with trading cessation on September 25, 2020, and full liquidation thereafter. No major partnerships, funding rounds, or new product launches specific to RWDC have been reported in 2024 or 2025, reflecting Direxion's ongoing portfolio optimization amid market volatility. The ETF's expense ratio stands at 0.45%, with assets under management recently around $7 million prior to its delisting.