JPNL Fees and Costs — Direxion Daily MSCI Japan Bull 3X Shares
Data updated: 2020-09-25
The net expense ratio is 1.24% (1.62% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $19K in broker commissions, 0.1825% of average net assets, and portfolio turnover was 82%.
JPNL Fees and Expenses
Annual operating expenses and sales charges of JPNL. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.62% |
| Fee waiver | −0.38% |
| Net expense ratio | 1.24% |
| 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 |
JPNL Costs Over Time
On $10,000 invested in JPNL, assuming 5% a year before costs, total costs come to $882 over 5 years, cutting the return by 1.49% 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 1.24%) | $130 | $404 | $698 |
| Trading costs (broker commissions) | $19 | $60 | $103 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $149 | $487 | $882 |
| Value after costs | $10,351 | $11,089 | $11,881 |
| Impact on return, per year | 1.49% | 1.49% | 1.49% |
JPNL 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): 0.1825%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 82%
- Securities on loan, average value: $170K
- Net income from securities lending: $471 (0.005% of average net assets)
JPNL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citibank, National Association | $17K | 91.77% |
| UBS AG | $2K | 8.23% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.