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Mutual Funds

Direxion Monthly High Yield Bull 1.2X Fund

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 achieve its stated investment objective.

DXHYX

NAV (Net Asset Value)$17.03As of Jun 20, 2024
1 Day NAV change$-0.01(-0.06%)As of Jun 20, 2024
Monthly Target
+120%
Daily NAV
$17.03
Expense Ratio
(gross/net %)
2.06 / 1.58*
Security Identifier
254939127
Inception Date
Feb 17, 2016

Documents & Downloads

  • DXHYX Fact Sheet (pdf)
  • Prospectus
  • Current Exposure Tool

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.

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.

Pricing & Performance

NAV and Market Price information as of 06/20/2024.

DXHYX Monthly High Yield Bull 1.2X Fund
Net Asset Value (NAV)
$17.03Nav
$-0.01Change
-0.06%Change
1M3MYTD1Y3Y5Y10YSince
Inception
Expense Ratio*
(Gross / Net%)
Inception
Date
DXHYX NAV
1.56
0.86
1.06
9.63
-0.74
1.43
4.24
2.06 / 1.58*
02/17/2016

As of May 31, 2024

*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 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, 2025, 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.

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 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.

Index Information

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 invest directly 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 19.47 20.51
Communications 16.74 14.98
Consumer, Non-cyclical 15.39 15.31
Financial 13.88 11.98
Energy 12.34 12.22
Industrial 11.13 11.98
Technology 4.01 4.69
Basic Materials 3.98 4.92
Utilities 2.82 3.04
Diversified 0.10 0.13

Index data as of 03/31/2024

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 4.50 5.39
Annualized Standard Deviation 7.71 5.20
Maximum Drawdown -21.92 -21.54
Return/Risk 58.43 103.62
Correlation 0.97

Index data as of 03/31/2024. 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.

Distributions

Record DateEx DatePay DateIncome DividendShort-Term Capital GainLong-Term Capital GainExpand
06/17/202406/18/202406/18/20240.05398
05/15/202405/16/202405/16/20240.01432
04/15/202404/16/202404/16/20240.10709
03/15/202403/18/202403/18/20240.07437
Record Date06/17/2024
Ex Date06/18/2024
Pay Date06/18/2024
Income Dividend0.05398
Short-Term Capital Gain
Long-Term Capital Gain
Record Date05/15/2024
Ex Date05/16/2024
Pay Date05/16/2024
Income Dividend0.01432
Short-Term Capital Gain
Long-Term Capital Gain
Record Date04/15/2024
Ex Date04/16/2024
Pay Date04/16/2024
Income Dividend0.10709
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/15/2024
Ex Date03/18/2024
Pay Date03/18/2024
Income Dividend0.07437
Short-Term Capital Gain
Long-Term Capital Gain

Documents

Tax Documents

Supplemental Tax Documents

  • Ordinary Income from U.S. Government Obligations (2017) (2016)
  • Form 8937 (2022)

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