China Bull 2x Fund

DXHLX

Symbol	Fund	Index/Benchmark	Daily Target
DXHLX	China Bull 2x Fund	FTSE/Xinhua China 25 Index	200%

The China Bull 2X Fund seeks daily investment results, before fees and expenses, of 200% of the price performance of the FTSE/Xinhua China 25 Index.

The FTSE/Xinhua China 25 Index consists of 25 of the largest and most liquid companies available to international investors traded on the Hong Kong Stock Exchange. The Index is weighted based on the total market value of each company so that companies with higher total market values generally have a higher representation in the Index. FTSE Xinhua Index Limited is not a sponsor of, or in any way affiliated with, the China Funds.

China	71.2%	Hong Kong	28.8%

Data as of 03/31/2008 is subject to change at any time and are not recommendations to buy or sell any security.

Regulatory Documents (including Prospectus, SAI, Semi-Annual Report and Annual Report)

An investor should consider the investment objectives, risks, charges, and expenses of the Direxion Funds carefully before investing. The prospectus contains this and other information about Direxion Funds. To obtain a prospectus, please contact the Direxion Funds at 800.851.0511. The prospectus should be read carefully before investing.

Investing in index funds may be more volatile than investing in broadly diversified funds. The use of leverage by a mutual fund increases the risk to the fund. The more a fund invests in leveraged instruments the more the leverage will magnify gains or losses on those investments.

The principal risks of investing in the China Bull 2x Funds are Market Timing Activity and High Portfolio Turnover, Risk of Tracking Error, Risks of Aggressive Investment Techniques, Leverage Risk, Counterparty Risks, Risk of Non-Diversification, Interest Rate Changes, Risks of Investing in Other Investment Companies and ETFs, Adverse Market Conditions, Risks of Investing in Equity Securities, Risks of Investing in Foreign Instruments, Currency Exchange Rates, Risks of Investing in Emerging Markets Instruments, Credit Risk and Lower Quality Debt Securities, Concentration Risk, Geographic Concentration Risk. For more information on the risks of the fund, including a description of each risk, please refer to the prospectus.