TNATZA Direxion Daily Small Cap Bull & Bear 3x Shares ETF

Overview

The Direxion Daily Small Cap Bull & Bear 3x Shares seek the daily investment results, before fees and expenses, of 300% or 300% of the inverse (or opposite) of the performance of the Russell 2000® Index. There is no guarantee the funds will meet their stated investment objectives.

These leveraged ETFs seek a return that is +300% or -300% of the return of their benchmark index for a single day. The funds should not be expected to provide three times or negative three times the return of the benchmark’s cumulative return for periods greater than a day.

Key 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 Shares is with you. Our leveraged ETFs are powerful tools built to help you:

  • Magnify your short-term perspective with daily 3x leverage
  • Go where there’s opportunity, with bull and bear funds for both sides of the trade; and
  • Stay agile – with liquidity to trade through rapidly changing markets

Leveraged ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Leverage ETFs are not designed to track the underlying index over periods longer than one trading day.

Target Index

Target Index

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe and is comprised of the smallest 2000 companies in the Russell 3000® Index, representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. The companies included in the index have an average market capitalization of more than $1.13 billion dollars and a median market capitalization of $818.20 million dollars as of June 30, 2015. One cannot invest directly in an Index.

Index Sector Weightings (%)
Financial Services 24.28
Information Technology 17.18
Health Care 16.10
Consumer Discretionary 14.57
Industrials 12.81
Materials 4.02
Energy 3.88
Utilities 3.26
Consumer Staples 3.06
Telecommunication Services 0.84

Data as of 6/30/2015 and is subject to change at any time. 

Daily Holdings

Fund Symbol TNA TZA
Daily Target 300% -300%
Intra-day Indicative Value TNA.IV TZA.IV
Bloomberg Index Symbol RTY RTY
CUSIP 25459W847 25459Y488
ISIN US25459W8477 US25459Y4888
Gross Expense Ratio 1.02% 1.05%
Net Expense Ratio 0.95%* 0.95%*
Inception Date Nov 05, 2008 Nov 05, 2008

Pricing and Performance

Our third-party service provider (The Bank of New York Mellon) has been unable to calculate NAVs due to an issue with its technology systems. For August 28, 2015, because the official net asset value is not yet available, the information presented regarding "net asset value" is the publicly disseminated closing indicative net asset value. This represents the best available information at this time.

Price Information
NAVs and market price information as of August 28, 2015

Ticker Fund Name NAV NAV Change $ NAV Change % Market Price Closing Market Price Closing Change($) Market Price Closing Change(%) Premium / Discount
TNA Daily Small Cap Bull 3x Shares 70.28 1.69 2.46 70.33 2.07 3.03 0.05
TZA Daily Small Cap Bear 3x Shares 11.58 -0.30 -2.53 11.55 -0.35 -2.94 -0.03

Performance
NAVs and market price information as of August 28, 2015

All data as of 7/31/2015
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
TNA Daily Small Cap Bull 3x Shares NAV -3.99 3.96 6.19 29.31 50.82 32.38 19.62 1.02 / 0.95*
Market Close -3.69 4.03 6.31 29.59 51.13 32.41 19.69
TZA Daily Small Cap Bear 3x Shares NAV 2.38 -8.42 -17.64 -40.25 -48.92 -51.80 -58.32 1.05 / 0.95*
Market Close 2.28 -8.52 -17.67 -40.37 -49.02 -51.84 -58.33
All data as of 6/30/2015
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
TNA Daily Small Cap Bull 3x Shares NAV 1.60 -0.36 10.61 10.81 50.33 38.13 20.63 1.02 / 0.95*
Market Close 1.73 -0.51 10.39 10.56 50.28 38.05 20.65
TZA Daily Small Cap Bear 3x Shares NAV -3.40 -4.35 -19.55 -30.78 -48.91 -54.42 -58.93 1.05 / 0.95*
Market Close -3.69 -4.45 -19.50 -30.80 -48.88 -54.42 -58.94

* The Net Expense Ratio includes management fees and other operating expenses, but does not include expenses such as Acquired Fund Fees and Expenses, leveraged interest and brokerage commissions. The Funds’ Advisor, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with each Fund. Under this agreement, Rafferty has contractually agreed to cap all or a portion of its management fee and/or reimburse each Fund for Other Expenses through September 1, 2016 to the extent that each Fund’s Total Annual Fund Operating Expenses exceed 0.95%.

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.

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, is 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
TNA Daily Small Cap Bull 3x Shares 0.4795
TNA Daily Small Cap Bull 3x Shares 1.18718