Fund Information

The Indexed Commodity Strategy Fund

Consider commodities

Why you should consider commodities as an investment alternative in any market environment

Financial professionals and their clients have found that commodities can:

potentially provide additional risk-adjusted returns over time to a diversified portfolio;
be an attractive investment option when global demand for commodities surge;
offer low correlation to stocks and bonds;
be an effective hedge against inflation; and
be a diversification tool with the potential to enhance all asset allocation models.

Diversification does not guarantee protection against market losses or ensure a gain.

Concentration risks result from focusing the Commodity Trends Strategy Fund investments in a specific industry or sector.

The performance of the fund may be more volatile than a fund that does not concentrate its investments.

The performance of the Fund is designed to correlate to the performance of its index. As a consequence, the fund's performance will suffer during conditions which are adverse to the investment goals.

The Indexed Commodity
Startegy Fund

Why
Commodities

Why a Long/Short
Commodity Strategy?

Advantages

The total annual fund operating expense ratio of the Direxion Indexed Commodity Strategy Fund, gross of any fee waivers or expense reimbursements, as stated in the fee table of the funds prospectus is for the investor class is 1.30%, for the institutional class is 1.05% and for the C-Shares is 2.04%. The performance data quoted represents past performance; past performance does not guarantee future results; the investment return and principal value of an investment will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost; current performance may be lower or higher than the performance quoted. Returns for performance for one year and under are cumulative, not annualized. Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. For additional information, see the fund(s) prospectus.

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

Auspice Capital Advisors Ltd. is a registered Portfolio Manager / Investment Fund Manager in Canada and a registered Commodity Trading Advisor (CTA/CPO) and National Futures Association (NFA) member in the US.

Investing in funds that invest in specific industries or geographic regions may be more volatile than investing in broadly diversified funds. The principal risks of investing in the Direxion Indexed Commodity Strategy Fund are Risks of Investing in Commodity-Linked Derivatives, Risks of Investing in Wholly-owned Subsidiary, High Portfolio Turnover, Tax Risk, Risk of Tracking Error, Risks of Aggressive Investment Techniques, Leverage Risk, Derivatives Risks, Counterparty Risks, Risk of Non-Diversification, Risks of Investing in Other Investment Companies and ETFs, Adverse Market Conditions, Risks of Investing in Equity Securities, Credit Risk and Concentration Risk.

Distributor: Rafferty Capital Markets, LLC.

Date of First Use: February 1, 2012