TECL Fees and Costs — Direxion Daily Technology Bull 3X Shares
Data updated: 2026-09-28
The net expense ratio is 0.85% (0.91% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $8.8M in broker commissions, 0.2702% of average net assets, and portfolio turnover was 12%.
TECL Fees and Expenses
Annual operating expenses and sales charges of TECL. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.91% |
| Fee waiver | −0.06% |
| Net expense ratio | 0.85% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
TECL Costs Over Time
On $10,000 invested in TECL, assuming 5% a year before costs, total costs come to $699 over 5 years, cutting the return by 1.18% 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 0.85%) | $89 | $278 | $482 |
| Trading costs (broker commissions) | $28 | $88 | $153 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $118 | $385 | $699 |
| Value after costs | $10,382 | $11,192 | $12,064 |
| Impact on return, per year | 1.18% | 1.18% | 1.18% |
TECL 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): 0.2702%
- Total broker commissions: $8.8M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 12%
- Securities on loan, average value: $4.3M
- Net income from securities lending: $6K (0.000% of average net assets)
TECL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Bank of America N.A. | $1.9M | 21.24% |
| BNP Paribas | $1.7M | 18.91% |
| Citibank, National Association | $1.5M | 17.20% |
| Goldman Sachs & Co. LLC | $1.0M | 11.91% |
| UBS AG | $1.0M | 11.88% |
| Barclays Bank PLC | $978K | 11.14% |
| JPMorgan Chase Bank, National Association | $651K | 7.42% |
| KNIGHT CAPITAL AMERICAS, LLC | $23K | 0.26% |
| BNY MELLON CAPITAL MAREKTS LLC | $5K | 0.06% |
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.