Monthly Leveraged Index Funds

Direxion Monthly S&P 500 Bear 2x Fund

The Direxion Monthly S&P 500® Bear 2x Fund seeks monthly investment results, before fees and expenses, of 200% of the inverse (or opposite) of the calendar month performance of the S&P 500® Index.There is no guarantee the fund will meet its stated investment objective.
  • Tickers:

     DXSSX
  • CUSIP:

     254939218
  • Objective:

     The Direxion Monthly S&P 500® Bear 2x Fund seeks monthly investment results, before fees and expenses, of 200% of the inverse (or opposite) of the calendar month performance of the S&P 500® Index. There is no guarantee the fund will meet its stated investment objective.
Symbol Fund Index/Benchmark Daily/Monthly Target Estimated Current
Exposure Level *
Bloomberg Index Symbol
Long Term Investment
ETFs
Mutual Funds
Short Term TradingAre Direxion Shares ETFs for you?
ETFs
Mutual Funds
DXSSX Monthly S&P 500® Bear 2x Fund S&P 500® -200% 200% SPX
Monthly
Quarterly (standardized)

    All Data as of 3/31/2014

    All Data as of 3/31/2014

Symbol Fund 1 Month
(%)
3 Month
(%)
YTD
(%)
1 Year
(%)
3 Year
(%)
5 Year
(%)
10 Year
(%)
Since
Inception
Inception
Date
Expense Ratio *
(Gross/Net %)
Long Term Investment
ETFs
Mutual Funds
Short Term Trading
ETFs
Mutual Funds
DXSSX Monthly S&P 500® Bear 2x Fund NAV -1.80 -4.80 -4.80 -36.28 -29.07 -40.09 - -24.89 5/1/2006 1.35 / 1.35
Symbol Fund 1 Month
(%)
3 Month
(%)
YTD
(%)
1 Year
(%)
3 Year
(%)
5 Year
(%)
10 Year
(%)
Since
Inception
Inception
Date
Expense Ratio *
(Gross/Net %)
Long Term Investment
ETFs
Mutual Funds
Short Term Trading
ETFs
Mutual Funds
DXSSX Monthly S&P 500® Bear 2x Fund NAV -1.80 -4.80 -4.80 -36.28 -29.07 -40.09 - -24.89 5/1/2006 1.35 / 1.35

* For ETFs, the advisor, Rafferty Asset Management, LLC has contractually agreed to waive all or a portion of its management fee and/or reimburse the fund for other expenses through September 1, 2015.

** The expenses are estimated based on projected assets. Please see prospectus for details (from the prospectus dated 3/21/14).

The performance data quoted represents past performance net of annual expenses but gross of any sales charge. The performance shown does not reflect the sales charge, therefore, the effect of the sales charge would reduce the performance shown. 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 less than one year 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 the most recent performance, see the “Performance” tab above or call (877) 437-9363.

Shares of DirexionShares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods shown. Absent these waivers, results would have been less favorable.


Symbol Fund NAV
(4/16/2014)
NAV
Change
($)
NAV
Change
(%)
Market Price Closing
(4/16/2014)
Market Price Closing Change
($)
Market Price Closing Change
(%)
Premium/
Discount
Long Term Investment
ETFs
Mutual Funds
Short Term Trading
ETFs
Mutual Funds
DXSSX Monthly S&P 500® Bear 2x Fund 39.02 $-0.80 -2.01% -- -- 0.00

The performance data quoted represents past performance net of annual expenses but gross of any sales charge. The performance shown does not reflect the sales charge, therefore, the effect of the sales charge would reduce the performance shown. 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 less than one year 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 the most recent performance, see the “Performance” tab above or call (877) 437-9363.

Shares of DirexionShares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods shown. Absent these waivers, results would have been less favorable.

Symbol Fund Record Date Ex-Date Pay Date Income Dividend Short Term Capital Gain Long Term Capital Gain
Long Term Investment
ETFs
Mutual Funds
Short Term Trading
ETFs
Mutual Funds
Symbol Fund Index/Benchmark Monthly Target Estimated Current
Exposure Level *
Domestic
DXSLX Monthly S&P 500® Bull 2x Fund S&P 500® 200% 200%
DXSSX Monthly S&P 500® Bear 2x Fund S&P 500® -200% 200%
DXQLX Monthly NASDAQ 100® Bull 2x Fund NASDAQ 100® 200% 200%
DXRLX Monthly Small Cap Bull 2x Fund Russell 2000® 200% 200%
DXRSX Monthly Small Cap Bear 2x Fund Russell 2000® -200% 200%
International
DXZLX Monthly Latin America Bull 2x Fund S&P® Latin America 40 200% 200%
DXHLX Monthly China Bull 2x Fund FTSE/Xinhua China 25 Index 200% 200%
DXELX Monthly Emerging Markets Bull 2x Fund MSCI Emerging Markets Index SM 200% 200%
Fixed Income
DXKLX Monthly 7-10 Year Treasury Bull 2x Fund NYSE 7-10 Year Treasury Bond Index 200% 200%
DXKSX Monthly 7-10 Year Treasury Bear 2x Fund NYSE 7-10 Year Treasury Bond Index -200% 200%
DXCBX Indexed Synthetic Convertible Strategy Fund QES Synthetic Convertible Index -
DXCVX Indexed Synthetic Convertible Strategy Bear Fund QES Synthetic Convertible Index -
Commodity
DXCLX Monthly Commodity Bull 2x Fund Morgan Stanley® Commodity Related Index 200% 200%
Currency
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Target Index

Target Index

The S&P 500® Index is a capitalization-weighted index composed of 500 common stocks. Standard & Poor’s selects the 500 stocks comprising the S&P 500 Index on the basis of market values and industry diversification. The S&P 500 Funds are not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of investing in the Direxion Funds. One cannot invest directly in an index. There is no guarantee these funds will meet their stated investment objectives.

Index Sector Weights
Information Technology 18.63%
Financials 16.44%
Health Care 13.37%
Consumer Discretionary 12.05%
Industrials 10.65%
Energy 10.15%
Consumer Staples 9.66%
Materials 3.52%
Utilities 3.07%
Telecom Services 2.45%

Data as of 3/31/2014 is subject to change at any time and are not recommendations to buy or sell any security.

 

Why Monthly Leveraged

Why Monthly Leveraged Mutual Funds?

Here you will find educational materials that aim to streamline and simplify leveraged index mutual funds, helping you to effectively deploy them in support of your portfolio strategies.

This page contains in depth information on the nature of leveraged index funds and related topics. These literature pieces should provide you with a good understanding of industry concepts and how leveraged index funds may perform.

  • Understanding Direxion Fund’s Monthly Leveraged Index Funds - Direxion Funds 2x Monthly Leveraged Index are mutual funds that provide 200% (or 200% of the inverse) exposure to their benchmarks and the ability for investors to navigate changing markets with flexibility. This information is designed to provide you with details concerning the composition of these funds, their monthly rebalancing feature, and the potential risks associated with them.
  • Managing Intra-Month Purchases of Monthly Leveraged Index Funds – This piece is designed to provided details on how to manage intra-monthly purchases of these funds, how to understand the changes in exposure that invariably occur each day of the month, and the tools that Direxion Funds offers to help investors understand current exposure level – so they can make educated decisions about any Leveraged Index Fund Purchase they may be considering.
  • The Impact of Changing Market Exposure on Leveraged Index Fund Performance – Leverage index fund performance can be significantly affected both positively and negatively by fluctuating market exposure. This piece provides a clear understanding of how market exposure can affect performance of these investments over time.
  • Correlation Analysis: A Key Practice in Achieving Portfolio Diversification – This paper examines the basics of correlation, its role in diversification and the importance of it’s continuous monitoring to ensure proper portfolio diversification.

Fund Literature

Fund Literature

Download fund literature and regulatory documents

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