An area of strength for the firm is its relatively high portfolio manager retention over the past five years, as long-term stability tends to support positive results. The firm tends to offer open-end and exchange-traded products at lower costs, a strength of the firm. On average, expenses for the firm's funds land in the second-cheapest quintile of category peers. Direxion fails to showcase longevity across its product shelf, as evidenced by its five-year risk-adjusted success ratio. This means that, over this time period, only 25% of its roster has been able to survive and beat its respective category median on a risk-adjusted basis. A low success ratio indicates poor performance and raises questions about a firm’s discipline around investment strategy and product development.
Worst-Performing Stock ETFs for the Month
ARK Innovation ETF and Renaissance IPO ETF were among the worst-performing ETFs in April 2024.