Direxion Mthly S&P 500 Bear 2X Inv
Name
As of 05/19/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-10.9%
1 yr return
-5.9%
3 Yr Avg Return
-26.7%
5 Yr Avg Return
-24.2%
Net Assets
$6.81 M
Holdings in Top 10
N/A
52 WEEK LOW AND HIGH
$3.4
$3.22
$4.46
Expenses
OPERATING FEES
Expense Ratio 1.39%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$25,000
IRA
$25,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/19/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
DXSSX - Profile
Distributions
- YTD Total Return -10.9%
- 3 Yr Annualized Total Return -26.7%
- 5 Yr Annualized Total Return -24.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.33%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameDirexion Monthly SP 500 Bear 2X Fund
-
Fund Family NameDirexion Funds
-
Inception DateMay 01, 2006
-
Shares Outstanding1868600
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerTony Ng
Fund Description
The Index is designed to be comprised of stocks that are the 500 leading, large-cap U.S.-listed issuers. It selects constituents on the basis of market capitalization, financial viability of the company and the public float, liquidity and price of a company’s shares outstanding. The Index is a float-adjusted and market capitalization-weighted index.As of June 30, 2022, the Index consisted of 503 constituents, which had a median total market capitalization of $27.2billion, total market capitalizations ranging from $3.1 billion to $2.2 trillion and were concentrated in the information technology and healthcare sectors. The Index is rebalanced quarterly.The components of the Index and the percentages represented by various sectors in the Index may change over time. The Fund will concentrate its investment in a particular industry or group of industries (i.e., hold 25% or more of its total assets in investments that provide inverse exposure to a particular industry or group of industries) to approximately the same extent as the Index is so concentrated.The Fund, under normal circumstances, invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the Index equal to at least 80% of the Fund’s net assets (plus borrowing for investment purposes).The Fund is designed to lose money when the Index rises, which is a result that is the opposite from traditional index tracking funds. In order to achieve its monthly inverse investment objective, the Fund may invest in a combination of financial instruments, such as swaps that provide short exposure to the Index or to an ETF that tracks the same Index or a substantially similar index, short securities of the Index or short an ETF that tracks the same Index or a substantially similar index, or short futures contracts that provide short exposure to the Index. The Fund may gain inverse leveraged exposure utilizing financial instruments that provide short exposure to a representative sample of the securities in the Index that have aggregate characteristics similar to those of the Index. The Fund invests in derivatives as a substitute for directly shorting securities in order to gain inverse leveraged exposure to the Index or its components. On a day-to-day basis, the Fund is expected to hold money market funds, deposit accounts with institutions with high quality credit ratings, and/or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements. The Fund seeks to remain fully invested at all times consistent with its stated inverse leveraged investment objective.Because a significant portion of the assets of the Fund may come from investors using “asset allocation” and “market timing” investment strategies, the Fund may engage in frequent trading.The Fund is “non-diversified,” meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities. Additionally, the Fund’s investment objective is not a fundamental policy and may be changed by the Fund’s Board of Trustees without shareholder approval.
Read More
DXSSX - Performance
Return Ranking - Trailing
| Period | DXSSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -10.9% | -52.9% | 764.6% | 53.90% |
| 1 Yr | -5.9% | -78.3% | 690.5% | 42.03% |
| 3 Yr | -26.7%* | -91.2% | 68.1% | 62.50% |
| 5 Yr | -24.2%* | -71.9% | 30.3% | 65.89% |
| 10 Yr | -34.0%* | -68.1% | 2.7% | 85.96% |
* Annualized
Return Ranking - Calendar
| Period | DXSSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 32.0% | -91.3% | 117.2% | 22.79% |
| 2022 | -24.6% | -100.0% | 39.6% | 72.26% |
| 2021 | -16.4% | -78.2% | 102.0% | 56.93% |
| 2020 | -13.3% | -36.6% | 351.8% | 80.45% |
| 2019 | 1.4% | -11.7% | 8.4% | 46.09% |
Total Return Ranking - Trailing
| Period | DXSSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -10.9% | -75.6% | 764.6% | 53.90% |
| 1 Yr | -5.9% | -78.3% | 690.5% | 42.03% |
| 3 Yr | -26.7%* | -91.2% | 68.1% | 62.50% |
| 5 Yr | -24.2%* | -71.9% | 30.3% | 65.89% |
| 10 Yr | -34.0%* | -68.1% | 2.7% | 85.96% |
* Annualized
Total Return Ranking - Calendar
| Period | DXSSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 32.0% | -91.3% | 117.2% | 22.79% |
| 2022 | -24.6% | -100.0% | 39.6% | 72.26% |
| 2021 | -16.4% | -78.2% | 102.0% | 56.93% |
| 2020 | -13.3% | -36.6% | 30.0% | 80.45% |
| 2019 | 1.4% | -11.7% | 8.4% | 46.09% |
NAV & Total Return History
DXSSX - Holdings
Concentration Analysis
| DXSSX | Category Low | Category High | DXSSX % Rank | |
|---|---|---|---|---|
| Net Assets | 6.81 M | 304 K | 2.47 B | 65.03% |
| Number of Holdings | 5 | 3 | 602 | 88.81% |
| Net Assets in Top 10 | -9.59 M | -7.43 B | 447 M | 76.92% |
| Weighting of Top 10 | N/A | 7.7% | 100.0% | 3.85% |
Top 10 Holdings
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
- 197051Spxcs12102020 284.43%
Asset Allocation
| Weighting | Return Low | Return High | DXSSX % Rank | |
|---|---|---|---|---|
| Cash | 275.45% | -114.39% | 361.39% | 4.90% |
| Stocks | 0.00% | -300.04% | 200.58% | 20.28% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 4.20% |
| Convertible Bonds | 0.00% | 0.00% | 2.47% | 18.88% |
| Bonds | 0.00% | -95.77% | 114.58% | 34.27% |
| Other | -175.45% | -207.14% | 100.00% | 99.30% |
DXSSX - Expenses
Operational Fees
| DXSSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.39% | 0.49% | 5.20% | 45.32% |
| Management Fee | 0.75% | 0.35% | 1.50% | 6.25% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 47.06% |
| Administrative Fee | N/A | 0.03% | 0.45% | N/A |
Sales Fees
| DXSSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| DXSSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| DXSSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 459.00% | 29.07% |
DXSSX - Distributions
Dividend Yield Analysis
| DXSSX | Category Low | Category High | DXSSX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 1.59% | 40.28% |
Dividend Distribution Analysis
| DXSSX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| DXSSX | Category Low | Category High | DXSSX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -1.33% | -7.24% | 3.75% | 48.00% |
Capital Gain Distribution Analysis
| DXSSX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 13, 2019 | $0.092 | OrdinaryDividend |
| Nov 13, 2008 | $22.264 | OrdinaryDividend |
| Dec 28, 2006 | $38.768 | OrdinaryDividend |
DXSSX - Fund Manager Analysis
Managers
Tony Ng
Start Date
Tenure
Tenure Rank
May 01, 2006
16.09
16.1%
Tony Ng is a Portfolio Manager and joined Rafferty Asset Management in April 2006. He was previously a Team Leader in the Trading Assistant Group with Goldman Sachs from 2004 to 2006. Hg was employed with Deutsche Asset Management from 1998 to 2004. Mr. Ng graduated from State University at Buffalo in 1998.
Paul Brigandi
Start Date
Tenure
Tenure Rank
May 01, 2006
16.09
16.1%
Paul Brigandi, the Fund’s Portfolio Manager, is primarily responsible for the day-to-day management of the Fund. An investment trading team of Rafferty employees assists Mr. Brigandi in the day-to-day management of the Fund subject to his primary responsibility and oversight. The Portfolio Manager works with the investment trading team to decide the target allocation of the Fund’s investments and on a day-to-day basis, an individual portfolio trader executes transactions for the Fund consistent with its target allocation. The members of the investment trading team rotate among the various series of the Trust, including the Fund periodically so that no single individual is assigned to a specific Fund for extended periods of time. Mr. Brigandi has been a Portfolio Manager at Rafferty since June 2004. Mr. Brigandi was previously involved in the equity trading training program for Fleet Boston Financial Corporation from August 2002 to April 2004. Mr. Brigandi is a 2002 graduate of Fordham University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.16 | 23.76 | 9.07 | 14.22 |