MIDZ Fees and Costs — Direxion Daily Mid Cap Bear 3X Shares
Data updated: 2020-03-30
The net expense ratio is 1.08% (1.68% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $9K in broker commissions, 0.2403% of average net assets, and portfolio turnover was 0%.
MIDZ Fees and Expenses
Annual operating expenses and sales charges of MIDZ. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.80% |
| Gross expense ratio | 1.68% |
| Fee waiver | −0.60% |
| Net expense ratio | 1.08% |
| 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 |
MIDZ Costs Over Time
On $10,000 invested in MIDZ, assuming 5% a year before costs, total costs come to $821 over 5 years, cutting the return by 1.39% 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 1.08%) | $113 | $353 | $609 |
| Trading costs (broker commissions) | $25 | $78 | $136 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $139 | $452 | $821 |
| Value after costs | $10,361 | $11,124 | $11,942 |
| Impact on return, per year | 1.39% | 1.39% | 1.39% |
MIDZ 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): 0.2403%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
MIDZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citibank, National Association | $4K | 45.89% |
| BNP Paribas | $3K | 38.48% |
| Credit Suisse International | $809 | 9.13% |
| Deutsche Bank AG | $575 | 6.49% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.