YANG Fees and Costs — Direxion Daily FTSE China Bear 3X Shares
Data updated: 2026-09-28
The net expense ratio is 1.02%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $796K in broker commissions, 0.3457% of average net assets, and portfolio turnover was 0%.
YANG Fees and Expenses
Annual operating expenses and sales charges of YANG. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.02% |
| Fee waiver | — |
| Net expense ratio | 1.02% |
| 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 |
YANG Costs Over Time
On $10,000 invested in YANG, assuming 5% a year before costs, total costs come to $848 over 5 years, cutting the return by 1.43% 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 1.02%) | $107 | $333 | $575 |
| Trading costs (broker commissions) | $36 | $113 | $195 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $143 | $468 | $848 |
| Value after costs | $10,357 | $11,108 | $11,915 |
| Impact on return, per year | 1.43% | 1.43% | 1.43% |
YANG 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): 0.3457%
- Total broker commissions: $796K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
YANG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $435K | 54.60% |
| UBS AG | $194K | 24.40% |
| Bank of America N.A. | $123K | 15.40% |
| BNP Paribas | $45K | 5.60% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.