People tend to listen when billionaires talk. In regards to volume, nothing speaks louder than actions, especially when those actions involve large sums of money. Retail investors wishing to follow investment decisions of Wall Street’s most elite now have a new way of doing so.
The wealthy must be doing something right. That appears to be the investment strategy behind the new Direxion iBillionaire Index ETF (NYSE:IBLN). The exchange-traded fund seeks to track the iBillionaire Index, which monitors equity portfolios of billionaire investors such as Warren Buffett, David Einhorn, Carl Icahn, Daniel Loeb, George Soros, and several more. Investments made by these billionaires are tracked by using mandatory 13-F filings found at the Securities and Exchange Commission.
The Direxion iBillionaire Index ETF is similar to other funds such as Global X Guru Index ETF(NYSE:GURU) and AlphaClone Alternative Alpha ETF (NYSE:ALFA). However, there are some key differences. The iBillionaire Index ETF has a lower expense ratio of 0.65 percent, and focuses on only thirty stocks. Global X Guru Index ETF has an expense ratio of 0.75 percent and holds fifty-four stocks, while AlphaClone Alternative Alpha ETF has an expense ratio of 0.95 percent and holds eighty-six stocks.