ETF Evaluator: Direxion NASDAQ-100® Equal Wtd ETF (QQQE) Follow This ETF

Direxion NASDAQ-100® Equal Wtd ETF Overview

Direxion NASDAQ-100® Equal Wtd ETF (QQQE) is a passively managed U.S. Equity Large Growth exchange-traded fund (ETF). Direxion Funds launched the ETF in 2012.

The investment seeks investment results before fees and expenses that track the NASDAQ-100® Equal Weighted Index. The fund, under normal circumstances, invests at least 80% of its assets in the securities that comprise the index or investments with economic characteristics similar to the securities included in the index. The index is the equal weighted version of the NASDAQ-100 Index® which includes approximately 100 of the largest domestic and international non-financial companies listed on the NASDAQ® Stock Market based on market capitalization.

About Direxion NASDAQ-100® Equal Wtd ETF (QQQE)

There are 2 members of the management team with an average tenure of 12.56 years: Tony Ng (2015) and Paul Brigandi (2012). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: NASDAQ Composite TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. Direxion NASDAQ-100® Equal Wtd ETF has 104 securities in its portfolio. The top 10 holdings constitute 13.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Direxion NASDAQ-100® Equal Wtd ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Direxion NASDAQ-100® Equal Wtd ETF has 8.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 91.7% There is 8.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Direxion NASDAQ-100® Equal Wtd ETF has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $1 billion in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

QQQE Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Direxion NASDAQ-100® Equal Wtd ETF expense ratio is below average compared to funds in the Large Growth category. Direxion NASDAQ-100® Equal Wtd ETF has an expense ratio of 0.35%, which is 29% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Direxion NASDAQ-100® Equal Wtd ETF has a portfolio turnover rate of 33%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.

Recently, in the month of June 2026, Direxion NASDAQ-100® Equal Wtd ETF returned 2.5%, which earned it a grade of A, as the Large Growth category had an average return of -0.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Direxion NASDAQ-100® Equal Wtd ETF has a trailing yield of 0.56%, which is above the 0.47% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Direxion NASDAQ-100® Equal Wtd ETF Grades

Year to date, the ETF has returned 19.7%, 8.8 percentage points better than the category, which translates into a grade of A. The fund has returned 25.1% over the past year (grade of B), 17.5% over the past three years (grade of F) and 9.4% per year over the past five years (grade of D) and 15.8% per year over the past 10 years (grade of D).

For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about Direxion NASDAQ-100® Equal Wtd ETF, including its riskiness, submit your email to unlock the rest of the article.