WFH vs. MNA ETF Comparison

Comparison of Direxion Work From Home ETF (WFH) to IQ Merger Arbitrage ETF (MNA)

WFH

Direxion Work From Home ETF

WFH Description

The Direxion Work From Home ETF offers exposure to companies across four technology pillars, allowing investors to gain exposure to those companies that stand to benefit from an increasingly flexible work environment. The four pillars include Cloud Technologies, Cybersecurity, Online Project and Document Management, and Remote Communications. Companies are selected for inclusion in the index by ARTIS, a proprietary natural language processing algorithm, which uses key words to evaluate large volumes of publicly available information, such as annual reports, business descriptions and financial news.

Grade (RS Rating)

Last Trade

$64.80

Average Daily Volume

998

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MNA

IQ Merger Arbitrage ETF

MNA Description

The investment seeks investment results that correspond generally to the price and yield performance of its underlying index, the IQ Merger Arbitrage Index. The fund employs a "passive management" to track the performance of the underlying index, which was developed by Financial Development Holdco LLC ("IndexIQ"). The underlying index seeks to employ a systematic investment process designed to identify opportunities in companies whose equity securities trade in developed markets, including the U.S., and which are involved in announced mergers, acquisitions and other buyout-related transactions. It is non-diversified.

Grade (RS Rating)

Last Trade

$32.80

Average Daily Volume

49,131

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	WFH	MNA
30 Days	9.46%	-0.18%
60 Days	12.26%	-0.27%
90 Days	13.87%	0.61%
12 Months	30.33%	6.73%

1 Overlapping Holdings

	Symbol	Grade	Weight in WFH	Weight in MNA	Overlap
	SMAR	A	2.54%	3.2%	2.54%

WFH Overweight 39 Positions Relative to MNA

Symbol	Grade	Weight
TEAM	A	3.32%
HUBS	A	3.04%
DOCU	A	3.02%
CRM	B	2.89%
ZS	C	2.86%
CRWD	B	2.86%
ORCL	B	2.86%
PEGA	A	2.81%
ATUS	C	2.76%
MRVL	B	2.76%
RNG	B	2.72%
NOW	A	2.68%
FTNT	C	2.65%
AMZN	C	2.63%
DDOG	A	2.61%
ZM	B	2.61%
S	B	2.55%
NET	B	2.54%
CSCO	B	2.51%
PANW	C	2.46%
META	D	2.43%
GOOGL	C	2.42%
AVGO	D	2.38%
MOMO	D	2.34%
CYBR	B	2.34%
NTCT	C	2.32%
DOCN	D	2.3%
YY	C	2.29%
WDAY	B	2.26%
BOX	B	2.25%
MSFT	F	2.25%
IBM	C	2.21%
OKTA	C	2.2%
SNX	C	2.16%
NTAP	C	2.14%
VZ	C	2.12%
VRNS	D	2.04%
ADBE	C	1.98%
XRX	F	1.66%

WFH Underweight 43 Positions Relative to MNA

Symbol	Grade	Weight
DFS	B	-8.65%
CTLT	B	-5.63%
JNPR	F	-4.99%
HCP	B	-4.36%
FYBR	D	-3.64%
MRO	B	-3.51%
ALTR	B	-3.12%
BALY	C	-2.82%
ALE	A	-2.69%
ENV	B	-2.59%
K	A	-2.47%
AXNX	C	-2.39%
AY	B	-2.1%
B	B	-2.08%
IBTX	B	-2.04%
RCM	F	-2.01%
SPR	D	-1.97%
INFN	C	-1.72%
NAPA	B	-1.6%
EVRI	A	-1.59%
SASR	B	-1.5%
VZIO	A	-1.31%
HTLF	B	-1.25%
FBMS	B	-1.19%
ZUO	B	-1.18%
AGS	A	-0.84%
HAYN	C	-0.77%
PFC	A	-0.65%
GATO	D	-0.41%
CFB	B	-0.4%
PGRU	A	-0.35%
RVNC	F	-0.32%
SRDX	B	-0.27%
BUSE	B	--0.42%
WSBC	A	--0.66%
RNST	B	--1.2%
CDE	D	--1.2%
UMBF	B	--1.28%
AUB	B	--1.5%
BA	F	--1.63%
SSB	B	--2.03%
IP	B	--4.24%
COF	B	--9.37%