Direxion launches three buy-and-hold ETFs for long-term investors, with one focused on high growth $HIPR $DYHG $NIFE (via ETFEdgeCNBC)
For David Mazza, head of product at Direxion, "what HIPR is really about is how do I find those high-growth companies, those hyper-growth companies that have the potential for sustained growth going forward?"
While that may sound generic, HIPR — which tracks the Russell 1000 Hyper Growth Index and has an expense ratio of 0.40% — fine-tunes its holdings to find the best of the best, Mazza told CNBC's"It's very easy just to take a screen of 'What companies have had the highest sales growth or earnings growth in the past?'" Mazza said.
"What we do for this particular fund is we combine a screen of companies that have grown sales in the past, have high expected earnings growth, but also — maybe most importantly — high expected cash flow growth," he said. "We also look at a company's balance sheet to ensure that they're not over-leveraging or taking on significant debts to pay for that growth. And then lastly, taking a look at stocks that have had positive momentum.
HIPR is heavily weighted towards information technology stocks, which make up roughly 45% of the portfolio. As of Thursday, the ETF's top 10 holdings were:
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