Direxion launched an ETF with iBillionaire today

The Direxion iBillionaire Index ETF (NYSEARCA:IBLN) tracks the iBillionaire Index comprising 30 U.S. large- and midcap securities favored by the likes of Warren Buffett, Carl Icahn and George Soros, as stated in 13F filings.

"It democratizes a lot of the information that very wealthy institutional investors have had for a long time," said Brian Jacobs, president of Direxion Investments.

IBLN will likely compete with the Global X Guru ETF (NYSEARCA:GURU) for assets, as GURU also attempts to mimic equity positions taken by large hedge funds; however, IBLN will feature a cheaper expense ratio of 0.65%, which could help attract investors.

Other ETFs which track the holdings of well known investors: GURX, GURI

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Comments (3)
  • thejacadagroup
    , contributor
    Comments (92) | Send Message
    Go team!
    1 Aug 2014, 02:13 PM Reply Like
  • mjtroll1
    , contributor
    Comments (2842) | Send Message
    since inception has had about 1/2 the return of spy (4.08 vs 7.31%)...so much for "smart money" :)
    2 Dec 2014, 11:48 AM Reply Like
  • GreenPirate
    , contributor
    Comments (1656) | Send Message
    No one should imagine that those making fabulous wealth on this market are not "smart". Trouble is, the money "they" make comes from... "us".
    10 Jun, 10:03 AM Reply Like
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