1301
Avenue of the Americas (6th Avenue), 28th Floor |
New
York, New York 10019 |
(800)
851-0511 |
Bull
Funds |
Bear
Fund |
Direxion Monthly S&P
500® Bull 1.75X Fund
(DXSLX) |
|
Direxion Monthly
NASDAQ-100® Bull 1.75X Fund
(DXQLX) |
|
Direxion Monthly Small Cap
Bull 1.75X Fund (DXRLX) |
|
Direxion Monthly 7-10 Year
Treasury Bull 1.75X Fund (DXKLX) |
Direxion Monthly 7-10 Year
Treasury Bear 1.75X Fund
(DXKSX) |
|
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|
Fund |
Underlying
Index |
Monthly
Leveraged
Investment
Objective |
Direxion
Monthly S&P 500® Bull
1.75X Fund |
S&P 500® Index |
175% |
Direxion
Monthly NASDAQ-100® Bull
1.75X Fund |
NASDAQ-100® Index |
175% |
Direxion
Monthly Small Cap Bull 1.75X Fund |
Russell 2000® Index |
175% |
Direxion
Monthly 7-10 Year Treasury Bull 1.75X Fund |
ICE U.S. Treasury 7-10 Year
Bond Index |
175% |
Direxion
Monthly 7-10 Year Treasury Bear 1.75X Fund |
-175% |
Direxion
Monthly S&P 500®
Bull 1.75X Fund |
Brokerage
Fees Paid |
Year Ended
August 31, 2023 |
$78,132 |
Year Ended
August 31, 2022 |
$239,550 |
Year Ended
August 31, 2021 |
$156,400 |
Direxion
Monthly NASDAQ-100®
Bull 1.75X Fund |
Brokerage
Fees Paid |
Year Ended
August 31, 2023 |
$110,989 |
Year Ended
August 31, 2022 |
$318,274 |
Year Ended
August 31, 2021 |
$384,344 |
Direxion
Monthly Small Cap Bull 1.75X Fund |
Brokerage
Fees Paid |
Year Ended
August 31, 2023 |
$21,919 |
Year Ended
August 31, 2022 |
$29,883 |
Year Ended
August 31, 2021 |
$27,076 |
Direxion
Monthly 7-10 Year Treasury Bull 1.75X Fund |
Brokerage
Fees Paid |
Year Ended
August 31, 2023 |
$34,331 |
Year Ended
August 31, 2022 |
$48,223 |
Year Ended
August 31, 2021 |
$112,071 |
Direxion
Monthly 7-10 Year Treasury Bear 1.75X Fund |
Brokerage
Fees Paid |
Year Ended
August 31, 2023 |
$10,560 |
Year Ended
August 31, 2022 |
$13,147 |
Year Ended
August 31, 2021 |
$6,976 |
Name,
Address and Age |
Position(s)
Held
with
Fund |
Term of
Office
and Length
of
Time
Served |
Principal
Occupation(s)
During
Past Five
Years |
# of
Portfolios in
Direxion
Family of
Investment
Companies
Overseen
by
Trustee(3) |
Other
Trusteeships/
Directorships
Held
by Trustee
During
Past Five
Years |
Daniel D.
O’Neill(1)
Age:
55 |
Chairman of the
Board of
Trustees |
Lifetime of Trust
until removal or
resignation;
Since 2014
|
Chief Executive
Officer, Rafferty
Asset
Management,
LLC, April 2021 –
September 2022;
Managing
Director, Rafferty
Asset
Management,
LLC, January 1999
– January
2019. |
120 |
None. |
Angela
Brickl(2)
Age:
47 |
Trustee |
Lifetime of Trust
until removal or
resignation; Since
2022 |
President, Rafferty
Asset
Management, LLC
since September
2022; Chief
Operating Officer,
Rafferty Asset
Management, LLC
May 2021 –
September 2022;
General Counsel,
Rafferty Asset
Management LLC,
since October
2010; Chief
Compliance
Officer, Rafferty
Asset
Management,
LLC, September
2012– March
2023. |
120 |
None. |
Name,
Address and Age |
Position(s)
Held
with
Fund |
Term of
Office
and Length
of
Time
Served |
Principal
Occupation(s)
During
Past Five
Years |
# of
Portfolios in
Direxion
Family of
Investment
Companies
Overseen
by
Trustee(4)
|
Other
Trusteeships/
Directorships
Held
by Trustee
During
Past Five
Years |
David L.
Driscoll
Age:
54 |
Trustee |
Lifetime of Trust
until removal or
resignation;
Since
2014 |
Board Member,
Algorithmic
Research and
Trading, since
2022; Board
Advisor, University
Common Real
Estate, since 2012;
Member, Kendrick
LLC, since 2006;
Partner, King
Associates, LLP,
since 2004;
Principal, Grey
Oaks LLP, since
2003.
|
120 |
None. |
Kathleen
M. Berkery
Age:
56 |
Trustee |
Lifetime of Trust
until removal or
resignation; Since
2019 |
Chief Financial
Officer, Metro
Physical Therapy,
LLC, since 2023;
Chief Financial
Officer, Student
Sponsor Partners,
2021 - 2023;
Senior Manager-
Trusts & Estates,
Rynkar, Vail &
Barrett, LLC, 2018
-
2021. |
120 |
None. |
Carlyle
Peake
Age:
52 |
Trustee |
Lifetime of Trust
until removal or
resignation; Since
2022 |
Head of US &
LATAM Debt
Syndicate, BBVA
Securities, Inc.,
since
2011. |
120 |
None. |
Mary Jo
Collins
Age:
67 |
Trustee |
Lifetime of Trust
until removal or
resignation; Since
2022 |
Managing
Director, B. Riley
Financial, March
– December
2022; Managing
Director, Imperial
Capital LLC, from
2020-2022;
Director, Royal
Bank of Canada,
2014-2020. |
120 |
None. |
Name,
Address
and
Age |
Position(s)
Held
with
Fund |
Term
of
Office(2)
and
Length
of
Time
Served |
Principal
Occupation(s)
During
Past Five
Years |
#
of
Portfolios
in
the
Direxion
Family
of
Investment
Companies
Overseen
by
Trustee(3) |
Other
Trusteeships/
Directorships
Held
by Trustee
During
Past Five
Years |
Angela
Brickl(1)
Age:
47 |
President |
Since
2022 |
President, Rafferty
Asset
Management,
LLC, since
September 2022;
Chief Operating
Officer, Rafferty
Asset
Management,
LLC, May 2021 –
September 2022;
General Counsel,
Rafferty Asset
Management LLC,
since October
2010; Chief
Compliance
Officer, Rafferty
Asset
Management,
LLC, September
2012– March
2023. |
N/A |
N/A |
Todd
Sherman
Age:
42 |
Chief Compliance
Officer |
Since
2023 |
Chief Risk Officer,
Rafferty Asset
Management,
LLC, since 2018;
SVP Head of Risk,
2012–2018. |
N/A |
N/A |
Patrick J.
Rudnick
Age:
50 |
Principal
Executive
Officer |
Since
2018 |
Senior Vice
President, Rafferty
Asset
Management,
LLC, since March
2013.
|
N/A |
N/A |
Corey
Noltner
Age:
34 |
Principal Financial
Officer |
Since
2021 |
Senior Business
Analyst, Rafferty
Asset
Management,
LLC, since October
2015. |
N/A |
N/A |
Alyssa
Sherman
Age:
34 |
Secretary |
Since
2022 |
Assistant General
Counsel, Rafferty
Asset
Management,
LLC, since April
2021; Associate,
K&L Gates LLP,
September 2015
– March
2021. |
N/A |
N/A |
Dollar
Range of Equity
Securities
Owned: |
Interested
Trustees: |
Independent
Trustees: | ||||
|
Daniel
D.
O’Neill |
Angela
Brickl |
David
L.
Driscoll |
Kathleen
M.
Berkery |
Carlyle
Peake |
Mary
Jo
Collins |
Direxion
Monthly S&P
500® Bull
1.75X Fund |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Direxion
Monthly
NASDAQ-100® Bull
1.75X
Shares |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Direxion
Monthly Small
Cap Bull
1.75X Fund |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Direxion
Monthly 7-10
Year
Treasury Bull 1.75X
Shares |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Direxion
Monthly 7-10
Year
Treasury Bear 1.75X
Shares |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Aggregate
Dollar Range of
Equity
Securities in the
Direxion
Family of
Investment
Companies(1) |
1 -
$10,000 |
$0 |
$0 |
$0 |
$0 |
$0 |
Name
of Person,
Position |
Aggregate
Compensation
From
the
Trust(1)
|
Pension
or
Retirement
Benefits
Accrued
As Part of
the
Trust’s
Expenses |
Estimated
Annual
Benefits
Upon
Retirement |
Aggregate
Compensation
From the
Direxion
Family
of
Investment
Companies
Paid
to the
Trustees(2)
|
Interested
Trustee | ||||
Daniel D.
O’Neill |
$0 |
$0 |
$0 |
$0 |
Angela
Brickl |
$0 |
$0 |
$0 |
$0 |
Independent
Trustees | ||||
David L.
Driscoll |
$46,250 |
$0 |
$0 |
$185,000 |
Kathleen
M. Berkery |
$46,250 |
$0 |
$0 |
$185,000 |
Mary Jo
Collins |
$46,250 |
$0 |
$0 |
$185,000 |
Carlyle
Peake |
$46,250 |
$0 |
$0 |
$185,000 |
Name
and Address |
Parent
Company |
Jurisdiction |
%
Ownership |
Type
of
Ownership |
Charles
Schwab & Co Inc.
211 Main
Street
San
Francisco, CA 94105-1905 |
The Charles
Schwab
Corporation |
DE |
52.38% |
Record |
National
Financial Services LLC
499
Washington Boulevard
Jersey
City, NJ 07310-2010 |
Fidelity Global
Brokerage Group,
Inc. |
DE |
32.46% |
Record |
Morgan
Stanley Smith Barney LLC
2000
Westchester Avenue
Purchase,
NY 10577-2539 |
N/A |
N/A |
7.75% |
Record |
Name
and Address |
Parent
Company |
Jurisdiction |
%
Ownership |
Type
of
Ownership |
Charles
Schwab & Co Inc.
211 Main
Street
San
Francisco, CA 94105-1905 |
The Charles
Schwab
Corporation |
DE |
73.40% |
Record |
National
Financial Services LLC
499
Washington Boulevard
Jersey
City, NJ 07310-2010 |
N/A |
N/A |
15.16% |
Record |
Name
and Address |
Parent
Company |
Jurisdiction |
%
Ownership |
Type
of
Ownership |
Charles
Schwab & Co Inc.
211 Main
Street
San
Francisco, CA 94105-1905 |
The Charles
Schwab
Corporation |
DE |
63.18% |
Record |
National
Financial Services LLC
499
Washington Boulevard
Jersey
City, NJ 07310-2010 |
N/A |
N/A |
19.15% |
Record |
Pershing
LLC
PO Box
2052
Jersey
City, NJ 07303-2052 |
N/A |
N/A |
7.73% |
Record |
Name
and Address |
Parent
Company |
Jurisdiction |
%
Ownership |
Type
of
Ownership |
Charles
Schwab & Co Inc.
211 Main
Street
San
Francisco, CA 94105-1905 |
The Charles
Schwab
Corporation |
DE |
87.71% |
Record |
National
Financial Services LLC
499
Washington Boulevard
Jersey
City, NJ 07310-2010 |
N/A |
N/A |
8.31% |
Record |
Name
and Address |
Parent
Company |
Jurisdiction |
%
Ownership |
Type
of
Ownership |
National
Financial Services LLC
499
Washington Boulevard
Jersey
City, NJ 07310-2010 |
Fidelity Global
Brokerage Group,
Inc. |
DE |
62.27% |
Record |
Charles
Schwab & Co Inc.
211 Main
Street
San
Francisco, CA 94105-1905 |
The Charles
Schwab
Corporation |
DE |
29.83% |
Record |
Direxion
Monthly NASDAQ-100®
Bull 1.75X Fund |
Advisory
fee accrued |
Fees
waived and
expenses
absorbed by
Adviser |
Total
fees paid to
(waived
by)
Adviser |
Year Ended
August 31, 2023(1) |
$2,069,752 |
$118,394 |
$2,002,386 |
Year Ended
August 31, 2022(2) |
$3,294,725 |
$77,085 |
$3,302,113 |
Year Ended
August 31, 2021(3) |
$3,290,788 |
$4,997 |
$3,285,791 |
Direxion
Monthly S&P 500®
Bull 1.75X Fund |
Advisory
fee accrued |
Fees
waived and
expenses
absorbed by
Adviser |
Total
fees paid to
(waived
by)
Adviser |
Year Ended
August 31, 2023(1) |
$582,133 |
$83,997 |
$515,397 |
Year Ended
August 31, 2022(2) |
$846,645 |
$40,440 |
$842,146 |
Year Ended
August 31, 2021(3) |
$791,365 |
$7,319 |
$784,046 |
Direxion
Monthly Small Cap Bull 1.75X Fund |
Advisory
fee accrued |
Fees
waived and
expenses
absorbed by
Adviser |
Total
fees paid to
(waived
by)
Adviser |
Year Ended
August 31, 2023(1) |
$71,495 |
$35,917 |
$36,003 |
Year Ended
August 31, 2022(2) |
$113,206 |
$38,003 |
$75,753 |
Year Ended
August 31, 2021 |
$159,416 |
$40,407 |
$119,009 |
Direxion
Monthly 7-10 Year Treasury Bull 1.75X Fund |
Advisory
fee accrued |
Fees
waived and
expenses
absorbed by
Adviser |
Total
fees paid to
(waived
by)
Adviser |
Year Ended
August 31, 2023 |
$84,745 |
$40,584 |
$44,161 |
Year Ended
August 31, 2022 |
$103,339 |
$43,334 |
$60,005 |
Year Ended
August 31, 2021(1) |
$228,761 |
$35,897 |
$192,864 |
Direxion
Monthly 7-10 Year Treasury Bear 1.75X Fund |
Advisory
fee accrued |
Fees
waived and
expenses
absorbed by
Adviser |
Total
fees paid to
(waived
by)
Adviser |
Year Ended
August 31, 2023 |
$44,157 |
$43,617 |
$540 |
Year Ended
August 31, 2022 |
$38,827 |
$46,998 |
$(8,171) |
Year Ended
August 31, 2021 |
$30,221 |
$49,028 |
$(18,807) |
Direxion
Monthly NASDAQ-100®
Bull 1.75X Fund |
Management
Fees Paid |
Year Ended
August 31, 2023 |
$68,433 |
Year Ended
August 31, 2022 |
$108,263 |
Year Ended
August 31, 2021 |
$109,223 |
Direxion
Monthly S&P 500®
Bull 1.75X Fund |
Management
Fees Paid |
Year Ended
August 31, 2023 |
$19,253 |
Year Ended
August 31, 2022 |
$27,842 |
Year Ended
August 31, 2021 |
$26,274 |
Direxion
Monthly Small Cap Bull 1.75X Fund |
Management
Fees Paid |
Year Ended
August 31, 2023 |
$2,364 |
Year Ended
August 31, 2022 |
$3,717 |
Year Ended
August 31, 2021 |
$5,298 |
Direxion
Monthly 7-10 Year Treasury Bull 1.75X Fund |
Management
Fees Paid |
Year Ended
August 31, 2023 |
$2,802 |
Year Ended
August 31, 2022 |
$3,387 |
Year Ended
August 31, 2021 |
$7,623 |
Direxion
Monthly 7-10 Year Treasury Bear 1.75X Fund |
Management
Fees Paid |
Year Ended
August 31, 2023 |
$1,458 |
Year Ended
August 31, 2022 |
$1,275 |
Year Ended
August 31, 2021 |
$1,002 |
Accounts |
Total
Number
of
Accounts |
Total
Assets
(In
Billions) |
Total
Number of
Accounts
with
Performance
Based
Fees |
Total
Assets
of
Accounts
with
Performance
Based
Fees |
Registered
Investment Companies |
78 |
$32 |
0 |
$0 |
Other
Pooled Investment Vehicles |
0 |
$0 |
0 |
$0 |
Other
Accounts |
0 |
$0 |
0 |
$0 |
|
Fees paid
to the Administrator |
Year Ended
August 31, 2023 |
$65,323 |
Year Ended
August 31, 2022 |
$95,209 |
Year Ended
August 31, 2021 |
$107,840 |
Fund
(Investor Class) |
12b-1
Fees
Incurred |
Direxion
Monthly NASDAQ-100®
Bull 1.75X
Fund |
$689,917 |
Direxion
Monthly S&P 500® Bull
1.75X
Fund |
$194,044 |
Direxion
Monthly Small Cap Bull
1.75X
Fund |
$23,832 |
Direxion
Monthly 7-10 Year
Treasury
Bull 1.75X Fund |
$28,248 |
Direxion
Monthly 7-10 Year
Treasury
Bear 1.75X Fund |
$14,719 |
Fund
(Investor Class) |
Advertising
and
Marketing |
Printing
and
Postage |
Payment
to
Distributor |
Payment
to
Dealers |
Compensation
to
Sales
Personnel |
Interest,
Carrying,
or
Other
Financing
Charges |
Other
Marketing
Expenses |
Direxion
Monthly NASDAQ-
100® Bull
1.75X Fund |
$0 |
$0 |
$9,362 |
$680,555 |
$0 |
$0 |
$0 |
Direxion
Monthly S&P 500®
Bull 1.75X
Fund |
$0 |
$0 |
$2,693 |
$191,351 |
$0 |
$0 |
$0 |
Direxion
Monthly Small Cap
Bull 1.75X
Fund |
$0 |
$0 |
$338 |
$23,494 |
$0 |
$0 |
$0 |
Direxion
Monthly 7-10 Year
Treasury
Bull 1.75X Fund |
$0 |
$0 |
$424 |
$27,824 |
$0 |
$0 |
$0 |
Direxion
Monthly 7-10 Year
Treasury
Bear 1.75X Fund |
$0 |
$0 |
$195 |
$14,524 |
$0 |
$0 |
$0 |
|
Unlimited
Short-Term |
Unlimited
Long-Term |
Direxion
Monthly NASDAQ-100® Bull
1.75X Fund |
$127,998,271 |
$— |
Direxion
Monthly S&P 500® Bull
1.75X Fund |
$7,982,228 |
$— |
Direxion
Monthly Small Cap Bull 1.75X Fund |
$8,319,199 |
$— |
Direxion
Monthly 7-10 Year Treasury Bull 1.75X Fund |
$7,065,653 |
$240,537 |
Direxion
Monthly 7-10 Year Treasury Bear 1.75X Fund |
$20,194,900 |
$— |
Capital
Loss Carryforwards Utilized: |
Taxable
Year Ended
8/31/2023 |
Direxion
Daily 7-10 Year Treasury Bear 1.75X Fund |
$9,001 |
Write
to: |
Direxion
Funds |
|
1301
Avenue of the Americas (6th Avenue),
28th
Floor |
|
New
York, New York 10019 |
|
|
Call: |
(800)
851-0511 |
|
|
By
Internet: |
www.direxion.com |