INTRA-DAY INDICATIVE VALUE
EXPENSE RATIO (GROSS/NET %)
1.49 / 0.48*
Mar 23, 2011
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 ICE U.S. Treasury 20+ Year Bond Index. There is no guarantee the fund will meet its stated investment objective.
This ETF seeks a return that is -100% of the return of its benchmark index for a single day. The fund should not be expected to provide 100% of the inverse of the benchmark’s cumulative return for periods greater than a day.
Strategy & Benefits
Single inverse ETFs are trading tools that allow investors to either seek profit or seek to apply a hedge for an existing portfolio 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 it does not employ leverage, compounding is less magnified compared to leveraged inverse ETFs.
Inverse ETFs are designed to move in the opposite direction of their benchmarks on a daily basis, and should not be expected to track their underlying indexes over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand the consequences of seeking daily inverse investment results and intend to actively manage their investments.
The ICE U.S. Treasury 20+ Year Bond Index (IDCOT20TR) is a market value weighted index that includes publicly issued U.S. Treasury securities that have a remaining maturity of greater than 20 years. Eligible securities must be fixed rate, denominated in U.S. dollars, and have $300 million or more of outstanding face value, excluding amounts held by the Federal Reserve. Securities excluded from the Index are zero-coupon STRIPS, inflation linked securities, floating rate notes, cash management and Treasury bills, and any government agency debt issued with or without a government guarantee.
Index Bond Maturities %
|27 - 30||39.35|
|24 - 27||39.89|
|20 - 24||23.51|
Index Credit Ratings %
The credit ratings are published rankings based on Moody's financial analyses as it relates to the bond issuer’s ability to meet debt obligations. The highest rating is Aaa, and the lowest is C.
|Weighted Average Maturity||26.59 Years|
|Weighted Average Coupon||3.29%|
|30 Day Volatility||7.87%|
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.
The weighted average maturity of the time until all maturities on treasuries in the index. The higher the weighted average to maturity, the longer the bonds have in the index until maturity.
The weighted average coupon of the index is arrived at by weighting the coupon of each bond by its relative size in the portfolio.
Volatility is a measurement of risk based on daily volatility of price over the last 30 days of the period calculated using standard deviation.
Source: Bloomberg. Data as of 9/30/2018 and is subject to change at any time.
Pricing and Performance
Pricing and Performance
NAV and Market Price information as of October 18, 2018. Line chart shows pricing trend over the last 30 days.
Net asset value (NAV)
market price closing
Premium / Discount
* 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 0.45%. 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 0.45% 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.
- Daily 20+ Year Treasury Bear 1X Shares
|Record Date||Ex Date||Pay Date||Income Dividend||Short-Term Capital Gain||Long-Term Capital Gain|