DRV Fees and Costs — Direxion Daily Real Estate Bear 3X Shares
Data updated: 2026-09-28
The net expense ratio is 1.06%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $116K in broker commissions, 0.2301% of average net assets, and portfolio turnover was 0%.
DRV Fees and Expenses
Annual operating expenses and sales charges of DRV. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.06% |
| Fee waiver | — |
| Net expense ratio | 1.06% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
DRV Costs Over Time
On $10,000 invested in DRV, assuming 5% a year before costs, total costs come to $802 over 5 years, cutting the return by 1.35% 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 1.06%) | $111 | $346 | $599 |
| Trading costs (broker commissions) | $24 | $75 | $130 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $135 | $442 | $802 |
| Value after costs | $10,365 | $11,134 | $11,961 |
| Impact on return, per year | 1.35% | 1.35% | 1.35% |
DRV 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): 0.2301%
- Total broker commissions: $116K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
DRV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS AG | $69K | 59.76% |
| Bank of America N.A. | $23K | 20.15% |
| JPMorgan Chase Bank, National Association | $23K | 20.09% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.