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RTX - DFEN: Growing Defense Spending Will Drive This ETF To A Rebound
Raytheon Technologies Corporation
Investment Thesis
Periodically, we like to explore beaten-down sectors and ETFs to find areas that are oversold and ripe for a rebound play. The Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) immediately caught our eye given the size of the fall (~ -78% year to date) and that the sector has tailwinds from increasing geopolitical instability and increased military spending.
For a diversified ETF, often the bigger the fall, the more potential for a rebound gain and DFEN is a trading opportunity.