Direxion Daily Small Cap Bull and Bear 3X Shares

  • FUND SYMBOL

    TNA

  • DAILY TARGET

    300%

  • INTRA-DAY INDICATIVE VALUE

    TNA.IV

  • BLOOMBERG INDEX

    RU20INTR

  • CUSIP

    25459W847

  • EXPENSE RATIO (GROSS/NET %)

    1.11 / 1.10*

  • INCEPTION DATE

    Nov 05, 2008

  • FUND SYMBOL

    TZA

  • DAILY TARGET

    -300%

  • INTRA-DAY INDICATIVE VALUE

    TZA.IV

  • BLOOMBERG INDEX

    RU20INTR

  • CUSIP

    25490K521

  • EXPENSE RATIO (GROSS/NET %)

    1.12 / 1.10*

  • INCEPTION DATE

    Nov 05, 2008

Overview

The Direxion Daily Small Cap Bull and 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.

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 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 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 Russell 2000® Index (RU20INTR) measures the performance of approximately 2,000 small-capitalization companies in the Russell 3000® Index, based on a combination of their market capitalization and current index membership. One cannot directly invest in an index.

Index Top Ten Holdings %

Five Below 0.31
ETSY Inc 0.27
Integrated Device Technology 0.27
Livanova 0.27
Haemonetics 0.26
Teladoc Health Inc 0.25
Ligand Pharmaceuticals 0.25
HubSpot Inc 0.24
Primerica 0.23
Healthequity I/D 0.22

Index Sector Weightings %

Financials 17.53
Health Care 16.44
Information Technology 15.21
Industrials 15.03
Consumer Discretionary 13.39
Real Estate 6.87
Energy 4.82
Materials 4.18
Utilities 3.10
Consumer Staples 2.65
Communication Services 0.78

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 December 14, 2018. Line chart shows pricing trend over the last 30 days.

fund symbol

TNA

  • Net asset value (NAV)

    • 49.19
    • -2.38
    • -4.62
  • market price closing

    • 49.27
    • -2.37
    • -4.59
  • Premium / Discount

    • 0.08

fund symbol

TZA

  • Net asset value (NAV)

    • 13.71
    • 0.61
    • 4.66
  • market price closing

    • 13.68
    • 0.60
    • 4.59
  • Premium / Discount

    • -0.03

* 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 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

  • TNA
  • Daily Small Cap Bull 3X 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 0.01442
12/20/2017 12/19/2017 12/27/2017 0.10630
  • TZA
  • Daily Small Cap Bear 3X 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 0.03008
03/21/2018 03/20/2018 03/27/2018 0.01511