GASL Fees and Costs — Direxion Daily Natural Gas Related Bull 3X Shares
Data updated: 2020-03-30
The net expense ratio is 1.04% (1.10% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $173K in broker commissions, 0.5508% of average net assets, and portfolio turnover was 40%.
GASL Fees and Expenses
Annual operating expenses and sales charges of GASL. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 1.10% |
| Fee waiver | −0.06% |
| Net expense ratio | 1.04% |
| 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 |
GASL Costs Over Time
On $10,000 invested in GASL, assuming 5% a year before costs, total costs come to $983 over 5 years, cutting the return by 1.67% 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 1.04%) | $109 | $339 | $584 |
| Trading costs (broker commissions) | $58 | $179 | $309 |
| Lost growth on money paid in costs | $0 | $26 | $91 |
| Total costs | $167 | $544 | $983 |
| Value after costs | $10,333 | $11,033 | $11,779 |
| Impact on return, per year | 1.67% | 1.67% | 1.67% |
GASL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.5508%
- Total broker commissions: $173K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $240K
- Net income from securities lending: $9K (0.028% of average net assets)
GASL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citibank, National Association | $80K | 46.11% |
| BNP Paribas | $65K | 37.39% |
| Bank of America N.A. (formerly Merrill Lynch) | $17K | 9.97% |
| Deutsche Bank AG | $11K | 6.54% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.