Direxion Monthly High Yield Bull 1.2X Fund










    1.72 / 1.69*


    Feb 17, 2016


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.

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

Key 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
Communications 21.74 21.87
Consumer, Non-cyclical 17.76 16.14
Consumer, Cyclical 13.67 16.12
Energy 12.42 12.45
Financial 11.34 10.68
Industrial 11.16 9.81
Basic Materials 4.79 5.57
Technology 4.77 4.61
Utilities 2.33 2.68
Diversified 0.02 0.07

Index data as of 12/31/2019 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 Performance Comparison

Solactive High Yield Beta Index (SOLHYB) vs. BofA Merrill Lynch US High Yield Index (H0A0)

2019 14.41 13.05
2018 -2.26 -2.01
2017 7.48 6.10
2016 17.49 14.28
2015 -4.64 -5.46
Annualized Returns 6.49 5.47
Annualized Std Dev 3.73 5.86
Max Drawdown -13.08 -14.05
Return/Risk 1.74 0.93
Correlation 0.95

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 and Performance

NAV information as of March 27, 2020. Line chart shows pricing trend over the last 30 days.

fund symbol


  • Net asset value (NAV)

    • 18.04
    • 0.13
    • 0.74

* 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 1.33%. 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, 2021, 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 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.


  • Monthly High Yield Bull 1.2X Fund
Record Date Ex Date Pay Date Income Dividend Short-Term Capital Gain Long-Term Capital Gain
03/16/2020 03/17/2020 03/17/2020 0.74333
02/18/2020 02/19/2020 02/19/2020 0.01276
12/31/2019 01/02/2020 01/02/2020 0.08664
11/15/2019 11/18/2019 11/18/2019 0.04691
10/15/2019 10/16/2019 10/16/2019 0.06422
09/16/2019 09/17/2019 09/17/2019 0.08933
07/15/2019 07/16/2019 07/16/2019 0.07679
06/17/2019 06/18/2019 06/18/2019 0.04017
05/15/2019 05/16/2019 05/16/2019 0.08064
04/15/2019 04/16/2019 04/16/2019 0.12796
03/15/2019 03/18/2019 03/18/2019 0.12681
02/15/2019 02/19/2019 02/19/2019 0.12651
12/31/2018 01/02/2019 01/02/2019 1.44084
11/15/2018 11/16/2018 11/16/2018 0.11901
10/15/2018 10/16/2018 10/16/2018 0.11690
09/17/2018 09/18/2018 09/18/2018 0.10895
08/15/2018 08/16/2018 08/16/2018 0.06450
07/16/2018 07/17/2018 07/17/2018 0.04764
06/15/2018 06/18/2018 06/18/2018 0.03925
05/15/2018 05/16/2018 05/16/2018 0.04406
04/16/2018 04/17/2018 04/17/2018 0.01720