LACK Fees and Costs — Direxion Daily Consumer Staples Bear 3X Shares
Data updated: 2020-09-25
The net expense ratio is 1.10% (4.31% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $3K in broker commissions, 0.1876% of average net assets.
LACK Fees and Expenses
Annual operating expenses and sales charges of LACK. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 3.41% |
| Gross expense ratio | 4.31% |
| Fee waiver | −3.21% |
| Net expense ratio | 1.10% |
| 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 |
LACK Costs Over Time
On $10,000 invested in LACK, assuming 5% a year before costs, total costs come to $801 over 5 years, cutting the return by 1.35% 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 1.10%) | $116 | $359 | $621 |
| Trading costs (broker commissions) | $20 | $61 | $106 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $135 | $441 | $801 |
| Value after costs | $10,365 | $11,135 | $11,962 |
| Impact on return, per year | 1.35% | 1.35% | 1.35% |
LACK 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): 0.1876%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
LACK Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Bank of America N.A. (formerly Merrill Lynch) | $3K | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.