Direxion S&P 500 High minus Low Quality ETF

Frequently Asked Questions About QMJ

What does QMJ invest in?

The investment seeks investment results, before fees and expenses, that track the S&P 500Â 150/50 Quality 0.30% Decrement Index. The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in securities that comprise the Long Component of the index or shares of exchange-traded funds ("ETFs") on the Long Component of the index. The index consists of a portfolio that has 150% long exposure to the S&P 500Â Quality Index (the "Long Component") and 50% short (or inverse) exposure to the S&P 500Â Quality - Lowest Quintile Index (the "Short Component"). It is non-diversified.

What is the expense ratio of QMJ?

Direxion S&P 500 High minus Low Quality ETF (QMJ) charges an expense ratio of 0.36%. This is the annual fee deducted from fund assets to cover management and operations.

How big is QMJ?

Direxion S&P 500 High minus Low Quality ETF (QMJ) manages $10.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is QMJ actively managed or an index fund?

QMJ is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (QMJ's is 0.36%) because there's no security selection cost.

When was QMJ launched?

Direxion S&P 500 High minus Low Quality ETF (QMJ) launched in February 2020 and is managed by Direxion.

How has QMJ performed?

QMJ's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.