INTRA-DAY INDICATIVE VALUE
EXPENSE RATIO (GROSS/NET %)
0.81 / 0.85*
Jun 17, 2015
The Direxion Daily CSI 300 China A Share Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse of the performance of the CSI 300 Index. There is no guarantee the fund will meet its stated investment objective.
This ETF seeks a return that is -100% of the return of its benchmark index for a single day. The fund should not be expected to provide 100% of the inverse of the benchmark’s cumulative return for periods greater than a day.
Strategy & Benefits
Single inverse ETFs are trading tools that allow investors to either seek profit or seek to apply a hedge for an existing portfolio position that they anticipate will experience negative returns, in the short term.
- The fund allows investors a tactical trading alternative to selling out of an existing position and creating a taxable event.
- Since it does not employ leverage, compounding is less magnified compared to leveraged inverse ETFs.
Inverse ETFs are designed to move in the opposite direction of their benchmarks on a daily basis, and should not be expected to track their underlying indexes over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand the consequences of seeking daily inverse investment results and intend to actively manage their investments.
The CSI 300 Index (CSIN0301) is a modified free-float market capitalization weighted index comprised of the largest and most liquid stocks in the Chinese A-share market. Index constituent stocks must have been listed for more than three months (unless the stock’s average daily A-share market capitalization since its initial listing ranks among the top 30 of all A-shares) and must not be experiencing obvious abnormal fluctuations or market manipulations.
Index Top Ten Holdings %
|China Ping An Insurance A||7.76|
|Kweichow Moutai A||3.99|
|Merchants Bank of China A||2.99|
|Industrial Commercial Bank China A||2.15|
|Gree Electric A||2.14|
|Midea Group A||1.94|
|Hengrui Medical A||1.65|
|Yili Company A||1.64|
Index Sector Weightings %
Index data as of 06/30/2019. Source: Bloomberg. Index sector weightings and top holdings are subject to change.
Pricing and Performance
Pricing and Performance
NAV and Market Price information as of September 16, 2019. Line chart shows pricing trend over the last 30 days.
Net asset value (NAV)
market price closing
Premium / Discount
* The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.80%. The Fund’s adviser, Rafferty Asset Management, LLC ("Rafferty") has entered into an Operating Expense Limitation Agreement with the Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse the Fund for Other Expenses through September 1, 2020, to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.80% of the Fund’s average daily net assets (excluding, as applicable, among other expenses, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses). If these expenses were included, the expense ratio would be higher.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For the most recent month-end performance please visit the funds website at www.direxion.com.
Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus.
- Daily CSI 300 China A Share Bear 1X Shares
|Record Date||Ex Date||Pay Date||Income Dividend||Short-Term Capital Gain||Long-Term Capital Gain|