The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull and Bear 3x Shares seek daily investment results, before fees and expenses, of 300% or 300% of the inverse (or opposite) of the performance of the S&P Oil & Gas Exploration & Production Select Industry Index. There is no guarantee the funds will meet their stated investment objectives.
Exploration and production companies concentrate their efforts almost exclusively on exploring for, acquiring, and producing oil and natural gas. Firms in the sector face myriad risks, including political and regulatory scrutiny, exploration risk, operational risks, and of course commodity price volatility. The flood of oil from U.S. shale producers has been weighing on prices, and the International Energy Agency has warned that OPEC and its partners may need to reconsider their plans to accommodate all the extra supply. While some consider that a case for the bears, others contend that exploration and production names are cheap, as tensions rise in the Middle East.
Whether you’re a bull or bear, Direxion offers daily 3x leveraged exposure to the S&P Oil & Gas Exploration & Production Select Industry Index. Direxion Leveraged and Inverse ETFs provide the opportunity to:
- Magnify your outlook by 3x, in either direction
- 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
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.
|Ticker||Fund Name||Index/Benchmark (Bloomberg Symbol)||Target||Prospectus|
|DRIP||Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares||S&P Oil & Gas Exploration & Production Select Industry Index (SPSIOPTR)||-300%||Prospectus|
|GUSH||Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares||S&P Oil & Gas Exploration & Production Select Industry Index (SPSIOPTR)||300%||Prospectus|
|All data as of 9/30/2018|
|Ticker||Fund Name||1 Mo %||3 Mo %||YTD %||1 YR %||3 YR %||5 YR %||10 YR %||Since Inception||Inception Date||Expense Ratio* (Gross/Net %)|
|DRIP||Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares||NAV||-8.46||-8.00||-54.00||-67.85||-63.89||-48.42||1.20 / 1.07*|
|GUSH||Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares||NAV||5.99||-2.59||30.69||62.82||-6.18||-37.81||1.17 / 1.15*|
|Ticker||Fund Name||NAV||NAV Change $||NAV Change %||Market Price Closing||Market Price Closing Change($)||Market Price Closing Change(%)||Premium / Discount|
|DRIP||Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares||15.12||1.84||13.86||15.09||1.81||13.63||-0.03|
|GUSH||Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares||10.70||-1.71||-13.78||10.73||-1.71||-13.75||0.03|
|Ticker||Fund Name||Record Date||Ex Date||Pay Date||Income Dividend||Short-Term Capital Gain||Long-Term Capital Gain|
|DRIP||Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares||0.01604|
|DRIP||Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares||0.00742|
|DRIP||Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares||0.01854|
|GUSH||Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares||0.00928|
* 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 0.95%. The Funds’ adviser, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with each Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse each Fund for Other Expenses through September 1, 2019, to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.95% 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 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.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.