MUTE Fees and Costs — Direxion Daily Communication Services Index Bear 3X Shares
Data updated: 2020-09-25
The net expense ratio is 1.07% (3.77% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $2K in broker commissions, 0.1799% of average net assets, and portfolio turnover was 0%.
MUTE Fees and Expenses
Annual operating expenses and sales charges of MUTE. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.90% |
| Gross expense ratio | 3.77% |
| Fee waiver | −2.70% |
| 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 |
MUTE Costs Over Time
On $10,000 invested in MUTE, assuming 5% a year before costs, total costs come to $778 over 5 years, cutting the return by 1.31% 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 | $350 | $605 |
| Trading costs (broker commissions) | $19 | $59 | $102 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $131 | $429 | $778 |
| Value after costs | $10,369 | $11,148 | $11,985 |
| Impact on return, per year | 1.31% | 1.31% | 1.31% |
MUTE 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): 0.1799%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
MUTE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citibank, National Association | $2K | 74.62% |
| UBS AG | $628 | 25.38% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.