PALD Fees and Costs — Direxion Daily PANW Bear 1X Shares
Data updated: 2026-09-28
The net expense ratio is 0.97% (0.99% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0592% of average net assets.
PALD Fees and Expenses
Annual operating expenses and sales charges of PALD. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.22% |
| Gross expense ratio | 0.99% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.97% |
| 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 |
PALD Costs Over Time
On $10,000 invested in PALD, assuming 5% a year before costs, total costs come to $643 over 5 years, cutting the return by 1.08% 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 0.97%) | $102 | $318 | $551 |
| Trading costs (broker commissions) | $6 | $19 | $34 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $354 | $643 |
| Value after costs | $10,392 | $11,222 | $12,119 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
PALD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0592%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
PALD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $663 | 64.62% |
| Citibank, National Association | $174 | 16.96% |
| Barclays Bank PLC | $104 | 10.19% |
| Bank of America N.A. | $84 | 8.23% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.