TYBS Daily 20+ Year Treasury Bear 1x Shares ETF

Overview

The Direxion Daily 20+ Year Treasury Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the performance of the NYSE 20 Year Plus Treasury Bond Index (AXTWEN).  There is no guarantee the fund will meet its stated investment objective.

This leveraged ETF seeks a return that is -100% of the return of its benchmark index for a single day.

Fact Sheet  ETF Guide  Prospectus

Key Features of the Fund

Key Benefits

TYBS, a non-leveraged inverse ETF is a trading tool that allow investors to either seek profit, or seek to apply a hedge, for an existing U.S. Treasuries 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 they don’t employ leverage, compounding is less magnified compared to leveraged inverse ETFs.

Target Index

Target Index

The NYSE 20+ Year Treasury Bond Index is a multiple-security fixed income index that aims to track the total returns of the intermediate 20+ year maturity range of the U.S. Treasury bond market. The index constituent bonds are weighted by their relative amounts outstanding. One cannot directly invest in an Index.

Index Bond Maturities
27 to 30 Years 46.98
24 to 27 Years 42.47
20 to 24 Years 10.55

 

Index Credit Weightings (%)
Aaa 100
Aa 0
A 0
Baa 0

The credit ratings are published rankings based on detailed financial analyses by a credit bureau, in this instance Moody’s, specifically as it relates to the bond issuer’s ability to meet debt obligations. The highest rating is Aaa, and the lowest is D. Securities with credit ratings of Baa and above are considered investment grade.

Duration
Index Duration = 17.07 Years
Fund Duration = -17.07 Years

Duration is a measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years.

All data as of 9/30/2014 and is subject to change at any time.

daily Holdings

Fund Symbol TYBS
Daily Target -100%
Intra-day Indicative Value TYBS.IV
Bloomberg Index Symbol AXTWEN
CUSIP 25459Y405
ISIN US25459Y4052
Gross Expense Ratio 1.61%
Net Expense Ratio 0.65%*
Inception Date Mar 23, 2011

Pricing and Performance

Price Information
NAVs and market price information as of October 30, 2014

Ticker Fund Name NAV NAV Change $ NAV Change % Market Price Closing Market Price Closing Change($) Market Price Closing Change(%) Premium / Discount
TYBS Daily 20+ Year Treasury Bear 1x Shares 24.54 -0.03 -0.12 24.50 -0.16 -0.65 -0.04

Performance
NAVs and market price information as of October 30, 2014

All data as of 9/30/2014
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
TYBS Daily 20+ Year Treasury Bear 1x Shares NAV 1.93 -3.68 -16.14 -13.42 -4.69 -12.12 1.61 / 0.65*
Market Close 1.73 -3.61 -15.95 -13.61 -5.35 -12.14
All data as of 9/30/2014
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
TYBS Daily 20+ Year Treasury Bear 1x Shares NAV 1.93 -3.68 -16.14 -13.42 -4.69 -12.12 1.61 / 0.65*
Market Close 1.73 -3.61 -15.95 -13.61 -5.35 -12.14

* The Net Expense Ratio of the Fund includes management fee and other operating expenses, but does not include indirect expenses such as Acquired Fund Fees and Expenses, leveraged interest and brokerage commissions. The Fund’s Advisor, Rafferty Asset Management, LLC has entered into an Operating Expense Limitation Agreement with the Fund, under which Rafferty has contractually agreed to cap all or a portion of its management fee and/or reimburse the Fund for Other Expense through September 1, 2015 to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.65%.

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.direxioninvestments.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 or summary prospectus. Index performance does not include any fees or expenses, are unmanaged and cannot be invested in directly.

Distributions

Ticker Fund Name Record Date Ex Date Pay Date Income Dividend Short-Term Capital Gain Long-Term Capital Gain