I'm looking for something exactly like this (XMAG). I have a lot of S&P500 & 1000 but I am extremely concerned with how overweight the top tech stocks are. Their PE indicates growth stocks where I see them more as established industry with average growth potential. I was considering shorting MAGS (in proportional amounts) to get what I intend to do. I found this ETF that looks to do exactly what I want (XMAG). Although I am concerned about putting so much money into a company (Defiance) that I know very little about. They have a few other boutique funds it seems like. 0.35% expense ratio seems high. How else do I rid my portfolio of these pesky expensive tech companies?