DXHYX
The Direxion Monthly High Yield Bull 1.2X Fund seeks monthly investment results, before fees and expenses, of 120% of the calendar month performance of the Solactive High Yield Beta Index. There is no guarantee the fund will meet its stated investment objective.
Overview
Fund Information
| Fund Symbol | Daily Target | Benchmark Index | Security Identifier | Expense Ratio (gross/net %) | Inception Date |
|---|---|---|---|---|---|
| DXHYX | 120% | SOLHYB | 254939127 | 1.74 / 1.68* | Feb 17, 2016 |
Direxion’s Leveraged Index-based Funds seek to provide monthly returns which are a multiple of the returns of the relevant benchmark. In practice, this means that Leveraged Index-based Funds react to gains by increasing market exposure and react to losses by decreasing market exposure.
Documents & Downloads
Strategy & Benefits
You know that TRADING is different than investing. But the opportunity to take advantage of short-term trends is only won, if you get the direction right.
Whether you’re a bull or a bear, Direxion is with you. Our leveraged and inverse Mutual Funds are tools built to help you:
- Provide monthly targeted magnified exposure to a diversified set of benchmark indexes
- Use precise derivative options to seek to optimize benchmark trading accuracy
- Seek to reduce the impact of compounding through the use of monthly rebalancing
Leveraged mutual funds pursue monthly leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They seek to magnify the returns of their benchmarks on a monthly basis and should not be expected to track the underlying index over periods longer than one month. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments.
Target Index
The Solactive High Yield Beta Index (SOLHYB) is a rules-based, systematic strategy index that provides exposure to an equal-weighted portfolio of three high-yield ETFs. The allocation to each US High Yield Corporate Bond ETF is adjusted on a monthly basis. The Index is calculated and distributed by Solactive AG and is calculated and published in US Dollars. One cannot directly invest in an index.
Index Sector Weightings Comparison – Solactive High Yield Beta Index (SOLHYB) vs. BofA Merrill Lynch US High Yield Index (H0A0)
| Sector | SOLHYB | H0A0 |
| Consumer, Cyclical | 23.42 | 23.36 |
| Communications | 17.09 | 16.12 |
| Consumer, Non-cyclical | 14.59 | 14.67 |
| Financial | 11.38 | 10.48 |
| Industrial | 11.10 | 11.14 |
| Energy | 11.06 | 12.23 |
| Technology | 3.59 | 4.00 |
| Basic Materials | 3.23 | 4.85 |
| Utilities | 2.42 | 2.63 |
| Diversified | 0.03 | 0.03 |
Index data as of 3/31/2023 Source: Bloomberg. Index sector weightings and top holdings are subject to change.
BofA Merrill Lynch US High Yield Index (H0A0) is a commonly used benchmark for high-yield corporate bonds. The Index tracks the performance of US dollar denominated below investment corporate debt publicly issued in the US domestic market.
Index Comparison % – Solactive High Yield Beta Index (SOLHYB) vs. BofA Merrill Lynch US High Yield Index (H0A0)
| Year | SOLHYB | H0A0 |
| Annualized Returns | 4.10 | 4.93 |
| Annualized Standard Deviation | 7.86 | 5.27 |
| Maximum Drawdown | -21.92 | -21.54 |
| Return/Risk | 0.52 | 0.93 |
| Correlation | 0.97 |
Past performance does not guarantee future results. Index returns and are historical and are not representative of any fund performance. Total returns of the index include reinvested dividends. One cannot invest directly in an index.
Standard Deviation is a measure of the dispersion of a set of data from its mean.
Maximum Drawdown is the greatest percent decline from a previous high.
Return/Risk is a calculation of the annualized return over standard deviation.
Correlation is a measure of the similarity of performance, and is calculated on using daily values.
Pricing & Performance
NAV and Market Price information as of June 08, 2023. Line chart shows pricing trend over the last 30 days.
- DXHYX
- 16.36NAV $
- 0.12Change $
- 0.74Change %
| monthly | 1M % | 3M % | YTD % | 1Y % | 3Y % | 5Y % | 10Y % | Since Inception | Inception Date | Expense Ratio* (Gross / Net %) |
|---|---|---|---|---|---|---|---|---|---|---|
| NAV | -1.44 | 0.42 | 2.23 | -3.84 | 0.12 | 0.20 | — | 3.52 | 02/17/2016 | 1.74 / 1.68* |
| quarterly | 1M % | 3M % | YTD % | 1Y % | 3Y % | 5Y % | 10Y % | Since Inception | Inception Date | Expense Ratio* (Gross / Net %) |
|---|---|---|---|---|---|---|---|---|---|---|
| NAV | 1.89 | 3.73 | 3.73 | -5.69 | 3.61 | 0.59 | — | 3.82 | 02/17/2016 | 1.74 / 1.68* |
| SOLHYB | 1.83 | 3.76 | 3.76 | -2.25 | 5.23 | 2.63 | — | 5.17 | — | - |
* 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 1.35%. The Funds’ 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, 2024, to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 1.35% 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 net expense ratio would be higher.
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.
Distributions
- DXHYX
| Record Date | Ex Date | Pay Date | Income Dividend | Short-Term Capital Gain | Long-Term Capital Gain |
|---|---|---|---|---|---|
| 05/15/2023 | 05/16/2023 | 05/16/2023 | 0.14742 | — | — |
| 04/17/2023 | 04/18/2023 | 04/18/2023 | 0.14382 | — | — |
| 03/15/2023 | 03/16/2023 | 03/16/2023 | 0.27672 | — | — |
| 02/15/2023 | 02/16/2023 | 02/16/2023 | 0.10618 | — | — |
| 01/17/2023 | 01/18/2023 | 01/18/2023 | 0.10316 | — | — |
| 11/15/2022 | 11/16/2022 | 11/16/2022 | 0.09514 | — | — |
| 10/17/2022 | 10/18/2022 | 10/18/2022 | 0.00295 | — | — |
| 09/15/2022 | 09/16/2022 | 09/16/2022 | 0.19621 | — | — |
| 08/15/2022 | 08/16/2022 | 08/16/2022 | 0.03512 | — | — |
| 06/15/2022 | 06/16/2022 | 06/16/2022 | 0.54664 | — | — |
| 04/18/2022 | 04/19/2022 | 04/19/2022 | 0.05522 | — | — |
| 03/15/2022 | 03/16/2022 | 03/16/2022 | 0.19165 | — | — |
| 02/15/2022 | 02/16/2022 | 02/16/2022 | 0.78832 | — | — |
| 01/18/2022 | 01/19/2022 | 01/19/2022 | 0.09112 | — | — |
| 11/15/2021 | 11/16/2021 | 11/16/2021 | 0.01181 | — | — |
| 10/15/2021 | 10/18/2021 | 10/18/2021 | 0.05567 | — | — |
| 09/15/2021 | 09/16/2021 | 09/16/2021 | 0.04669 | — | — |
| 08/16/2021 | 08/17/2021 | 08/17/2021 | 0.04355 | — | — |
| 07/15/2021 | 07/16/2021 | 07/16/2021 | 0.03545 | — | — |
| 06/15/2021 | 06/16/2021 | 06/16/2021 | 0.02943 | — | — |