HIBL Fees and Costs — Direxion Daily S&P 500 High Beta Bull 3X Shares
Data updated: 2026-09-28
The net expense ratio is 0.98%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $157K in broker commissions, 0.3264% of average net assets, and portfolio turnover was 112%.
HIBL Fees and Expenses
Annual operating expenses and sales charges of HIBL. 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 | 0.98% |
| Fee waiver | — |
| Net expense ratio | 0.98% |
| 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 |
HIBL Costs Over Time
On $10,000 invested in HIBL, assuming 5% a year before costs, total costs come to $812 over 5 years, cutting the return by 1.37% 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 0.98%) | $103 | $320 | $553 |
| Trading costs (broker commissions) | $34 | $107 | $184 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $137 | $448 | $812 |
| Value after costs | $10,363 | $11,128 | $11,951 |
| Impact on return, per year | 1.37% | 1.37% | 1.37% |
HIBL 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): 0.3264%
- Total broker commissions: $157K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 112%
- Securities on loan, average value: $334K
- Net income from securities lending: $461 (0.001% of average net assets)
HIBL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Bank PLC | $74K | 46.76% |
| UBS AG | $33K | 21.17% |
| Citibank, National Association | $23K | 14.71% |
| JPMorgan Chase Bank, National Association | $14K | 8.96% |
| BNP Paribas | $8K | 5.21% |
| Bank of America N.A. | $4K | 2.73% |
| KNIGHT CAPITAL AMERICAS, LLC | $726 | 0.46% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.