DFEN - DFEN: 2024 Might Be Very Different From 2023 (Rating Downgrade)

2024-01-28 07:17:56 ET

Summary

• The Direxion Daily Aerospace & Defense Bull 3X Shares ETF has delivered excellent returns but is expected to experience a different trend in the coming months.
• The ETF's composition is not optimal in the current scenario, with a decline in Boeing significantly impacting its performance.
• The defense sector may be nearing its peak, and defense companies are more likely to decline than appreciate further.

The Direxion Daily Aerospace & Defense Bull 3X Shares ETF (DFEN), as discussed in my latest article, " DFEN: A Buy For 2023, But Be Careful In The Next Few Months ," has delivered, as I expected, excellent returns, yielding a +25% until the end of 2023 and a +13.11% until now. However, I expect a very different trend in the coming months....

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