NEED Fees and Costs — Direxion Daily Consumer Staples Bull 3X Shares
Data updated: 2020-09-25
The net expense ratio is 0.98% (2.37% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $5K in broker commissions, 0.1587% of average net assets.
NEED Fees and Expenses
Annual operating expenses and sales charges of NEED. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.59% |
| Gross expense ratio | 2.37% |
| Fee waiver | −1.39% |
| Net expense ratio | 0.98% |
| 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 |
NEED Costs Over Time
On $10,000 invested in NEED, assuming 5% a year before costs, total costs come to $710 over 5 years, cutting the return by 1.20% 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 0.98%) | $103 | $321 | $555 |
| Trading costs (broker commissions) | $17 | $52 | $90 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $120 | $391 | $710 |
| Value after costs | $10,380 | $11,185 | $12,053 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
NEED 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): 0.1587%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
NEED Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citibank, National Association | $3K | 63.65% |
| Bank of America N.A. (formerly Merrill Lynch) | $2K | 33.60% |
| UBS AG | $103 | 2.16% |
| Deutsche Bank AG | $28 | 0.59% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.