Daily High Yield Bear 2X Shares

  • FUND SYMBOL

    HYDD

  • DAILY TARGET

    -200%

  • INTRA-DAY INDICATIVE VALUE

    HYDD.IV

  • BLOOMBERG INDEX

    LHVLTRUU

  • CUSIP

    25490K190

  • EXPENSE RATIO (GROSS/NET %)

    2.15 / 0.89*

  • INCEPTION DATE

    Jun 16, 2016

Overview

The Direxion Daily High Yield Bear 2X Shares seeks daily investment results, before fees and expenses, of 200% of the inverse (or opposite) of the performance of the Bloomberg Barclays U.S. High Yield Very Liquid Index. There is no guarantee the fund will meet its stated investment objective.

This leveraged ETF seeks a return that is -200% the return of its benchmark index for a single day. The fund should not be expected to provide negative two times the return of the benchmark’s cumulative return for periods greater than a day.

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 ETFs are powerful tools built to help you:

  • Magnify your short-term perspective with daily 2X 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 and inverse ETFs pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. 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 Bloomberg Barclays US High Yield Very Liquid Index (LHVLTRUU) measures the performance of publicly issued U.S. Dollar-denominated, non-investment grade or high-yield, fixed-rate, taxable corporate bonds, also known as "junk bonds." The Index includes bonds that have a remaining maturity of at least one year, regardless of optionality, are rated high-yield (Ba1/BB+/BB+ or below) using the middle rating of Moody's, Fitch or Standard & Poor's, respectively, and have $500 million or more of outstanding face value. A bond must have been issued within the past five years. One cannot directly invest in an Index.

Index Sector Weightings %

Communications 20.42
Consumer, Non-cyclical 19.04
Energy 14.27
Consumer, Cyclical 12.92
Financial 9.95
Industrial 9.14
Technology 6.78
Basic Materials 4.27
Utilities 3.04
Diversified 0.17

Index data as of 09/30/2018. Source: Bloomberg. Index sector weightings and top holdings are subject to change.

Pricing and Performance

NAV and Market Price information as of October 18, 2018. Line chart shows pricing trend over the last 30 days.

fund symbol

HYDD

  • Net asset value (NAV)

    • 18.68
    • 0.17
    • 0.92
  • market price closing

    • 18.69
    • 0.00
    • 0.00
  • Premium / Discount

    • 0.01

* 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 0.80%. 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, 2019, to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.80% 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 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.

Distributions

  • HYDD
  • Daily High Yield Bear 2X Shares
Record Date Ex Date Pay Date Income Dividend Short-Term Capital Gain Long-Term Capital Gain
09/26/2018 09/25/2018 10/02/2018 0.05696
06/20/2018 06/19/2018 06/26/2018 0.02644
03/21/2018 03/20/2018 03/27/2018 0.02403