HCMT Fees and Costs — Direxion HCM Tactical Enhanced US ETF
Data updated: 2026-09-28
The net expense ratio is 1.17%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $450K in broker commissions, 0.0975% of average net assets, and portfolio turnover was 191%.
HCMT Fees and Expenses
Annual operating expenses and sales charges of HCMT. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 1.17% |
| Fee waiver | — |
| Net expense ratio | 1.17% |
| 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 |
HCMT Costs Over Time
On $10,000 invested in HCMT, assuming 5% a year before costs, total costs come to $789 over 5 years, cutting the return by 1.33% 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 1.17%) | $123 | $382 | $661 |
| Trading costs (broker commissions) | $10 | $32 | $55 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $133 | $435 | $789 |
| Value after costs | $10,367 | $11,142 | $11,974 |
| Impact on return, per year | 1.33% | 1.33% | 1.33% |
HCMT 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): 0.0975%
- Total broker commissions: $450K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 191%
- Securities on loan, average value: $3.1M
- Net income from securities lending: $4K (0.001% of average net assets)
HCMT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $351K | 78.04% |
| Barclays Bank PLC | $78K | 17.34% |
| Citibank, National Association | $20K | 4.43% |
| BNP Paribas | $853 | 0.19% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.