BRZU Fees and Costs — Direxion Daily MSCI Brazil Bull 2X Shares
Data updated: 2026-09-28
The net expense ratio is 1.22%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $132K in broker commissions, 0.1085% of average net assets.
BRZU Fees and Expenses
Annual operating expenses and sales charges of BRZU. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.16% |
| Gross expense ratio | 1.22% |
| Fee waiver | — |
| Net expense ratio | 1.22% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
BRZU Costs Over Time
On $10,000 invested in BRZU, assuming 5% a year before costs, total costs come to $826 over 5 years, cutting the return by 1.39% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.22%) | $128 | $398 | $688 |
| Trading costs (broker commissions) | $11 | $35 | $61 |
| Lost growth on money paid in costs | $0 | $22 | $76 |
| Total costs | $139 | $455 | $826 |
| Value after costs | $10,361 | $11,121 | $11,937 |
| Impact on return, per year | 1.39% | 1.39% | 1.39% |
BRZU Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1085%
- Total broker commissions: $132K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): —
- Securities on loan, average value: $23.1M
- Net income from securities lending: $119K (0.098% of average net assets)
BRZU Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP Paribas | $44K | 33.05% |
| JPMorgan Chase Bank, National Association | $42K | 31.53% |
| UBS AG | $29K | 21.83% |
| Barclays Bank PLC | $18K | 13.59% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.