LABD Fees and Costs — Direxion Daily S&P Biotech Bear 3X Shares
Data updated: 2026-09-28
The net expense ratio is 1.07% (1.08% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $178K in broker commissions, 0.2924% of average net assets, and portfolio turnover was 0%.
LABD Fees and Expenses
Annual operating expenses and sales charges of LABD. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.08% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.07% |
| 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 |
LABD Costs Over Time
On $10,000 invested in LABD, assuming 5% a year before costs, total costs come to $846 over 5 years, cutting the return by 1.43% 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 1.07%) | $112 | $349 | $603 |
| Trading costs (broker commissions) | $31 | $95 | $165 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $143 | $467 | $846 |
| Value after costs | $10,357 | $11,110 | $11,917 |
| Impact on return, per year | 1.43% | 1.43% | 1.43% |
LABD 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): 0.2924%
- Total broker commissions: $178K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
LABD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citibank, National Association | $69K | 38.89% |
| Barclays Bank PLC | $52K | 29.31% |
| Goldman Sachs & Co. LLC | $20K | 11.39% |
| JPMorgan Chase Bank, National Association | $19K | 10.68% |
| UBS AG | $14K | 7.63% |
| Bank of America N.A. | $4K | 2.10% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.