LACK — Direxion Daily Consumer Staples Bear 3X Shares

LACK Fund Overview

LACK — Direxion Daily Consumer Staples Bear 3X Shares is a US mutual fund managed by Direxion Shares ETF Trust, categorised as Inverse / Short. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Direxion Shares ETF Trust
• Category: Inverse / Short
• Assets under management: $479.19K
• 1-year return: -48.8%
• Ticker: LACK
• SEC CIK: 0001424958
• SEC series ID: S000027479
• Share class ID: C000082790

LACK Investment Objective and Strategy

Direxion Daily Consumer Staples Bear 3X Shares describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Direxion Shares ETF Trust.

Investment objective

The Fund seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Index. The Fund does not seek to achieve its stated investment objective for a period of time different than a trading day.

Principal investment strategy

The Fund, under normal circumstances, invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the Index equal to at least 80% of the Funds net assets (plus borrowing for investment purposes). On a day-to-day basis, the Fund is expected to hold money market funds, deposit accounts with institutions with high quality credit ratings, and/or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements. The Index is provided by S&P Dow Jones Indices (the Index Provider) and includes domestic companies from the consumer staples sector which includes the following industries: food and staples retailing; household products; food products; beverages; tobacco; and personal products.

The Index is one of eleven Select Sector Indexes developed and maintained in accordance with the following criteria: (1) each of the stocks in the Index is also a constituent company of the S&P 500 Index; (2) each constituent in the S&P 500 Index is assigned to one of the Select Sector Indexes; and (3) the Index is calculated by the Index Provider using a modified market capitalization methodology, which is a hybrid between equal weighting and conventional capitalization market weighting with the weighting capped for the largest stocks included in the Index. This design ensures that each of the component stocks within a Select Sector Index is represented in a proportion consistent with its percentage with respect to the total market capitalization of such Select Sector Index. As of December 29, 2017, the Index was comprised of 34 constituents, which had a median total market capitalization of $30.1 billion, total market capitalizations ranging from $12.2 billion to $295 billion and were concentrated in the consumer staples sector.

The components of the Index and the percentages represented by various sectors in the Index may change over time. The Fund will concentrate its investment in a particular industry or group of industries ( i.e. , hold 25% or more of its total assets in investments that provide inverse exposure to a particular industry or group of industries) to approximately the same extent as the Index is so concentrated. The Fund may gain inverse leveraged exposure by investing in a combination of financial instruments, such as swaps or futures contracts that provide short exposure to the Index, or to a representative sample of the securities in the Index that has aggregate characteristics similar to those of the Index or to an ETF that tracks the same Index or a substantially similar index, or the Fund may short securities of the Index, short an ETF that tracks the same Index or a substantially similar index.

Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund invests in derivatives as a substitute for directly shorting securities in order to gain inverse leveraged exposure to the Index or its components. The Fund seeks to remain fully invested at all times consistent with its stated inverse leveraged investment objective. The Fund seeks to remain fully invested at all times consistent with its stated investment objective. At the close of the markets each trading day, Rafferty positions the Funds portfolio so that its exposure to the Index is consistent with the Funds inverse leveraged investment objective. The impact of the Indexs movements during the day will affect whether the Funds portfolio needs to be re-positioned.

For example, if the Index has fallen on a given day, net assets of the Fund should rise, meaning that the Funds exposure will need to be increased. Conversely, if the Index has risen on a given day, net assets of the Fund should fall, meaning the Funds exposure will need to be reduced. This re-positioning strategy may result in high portfolio turnover. The terms daily, day, and trading day, refer to the period from the close of the markets on one trading day to the close of the markets on the next trading day. Because of daily rebalancing and the compounding of each days return over time, the return of the Fund for periods longer than a single day will be the result of each days returns compounded over the period, which will very likely differ from -300% of the return of the Index over the same period.

The Fund will lose money if the Index performance is flat over time, and as a result of daily rebalancing, the Indexs volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Index's performance decreases.

LACK Performance

Total returns for LACK (as of 2026-10-01), from SEC filings.

LACK Risk Information

Risk metrics for LACK, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 43.3%

LACK Costs and Fees

LACK costs about $110 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.10%
• Gross expense ratio: 4.31%
• Brokerage commissions: 18.76 bps of average net assets (SEC N-CEN)

LACK Cashflows

Over the 12 months to 2020-07, Direxion Daily Consumer Staples Bear 3X Shares had net inflows of $0, from monthly SEC N-PORT filings.

LACK Debt Constituents

No individual debt constituents are reported in Direxion Daily Consumer Staples Bear 3X Shares's latest SEC N-PORT filing.

LACK Prospectus and SEC Filings

Official Direxion Daily Consumer Staples Bear 3X Shares filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-03-17
• Prospectus (485BPOS) — filed 2019-03-07
• Prospectus (485BPOS) — filed 2018-03-12
• Portfolio holdings (N-PORT) — filed 2020-09-25
• Portfolio holdings (N-PORT) — filed 2020-06-25
• Portfolio holdings (N-PORT) — filed 2020-03-30
• Annual census (N-CEN) — filed 2020-01-14

Related Funds

Other Inverse / Short funds tracked on ABC INVEST:

• Direxion Daily Semiconductor Bear 3X Shares (SOXS)
• Direxion Daily S&P 500 Bear 3X Shares (SPXS)
• Direxion Daily S&P 500 Bear 1X Shares (SPDN)
• Direxion Daily Small Cap Bear 3X Shares (TZA)
• Direxion Daily 20+ Year Treasury Bear 3X Shares (TMV)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.