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Financial Trends Strategy Fund
 
Symbol Fund Index/Benchmark
DXFTX Financial Trends Strategy Fund - Investor Class Financial Trends Indicator®
DXFCX Financial Trends Strategy Fund - C Share Financial Trends Indicator®

* Estimated Current Exposure Level data updated as often as once per minute, but this web page must be refreshed to obtain updated data.
 
 
DXFTX CUSIP: 254939390
DXFTX Inception Date: 3/2/2009
DXFCX CUSIP: 254939333
DXFCX Inception Date: 3/1/2010
 
 
Fund Objective
The Financial Trends Strategy Fund seeks investment results comparable to the performance of the Standard and Poor's Financial Trends Indicator® ("FTI®").
 
 
Target Index
The FTI® is an index which reflects price changes in eight components, six currency and two fixed income market components. Unlike traditional indexes, which only reflect long positions in the relevant components, the FTI® may reflect either a long or a short position in each of the eight components. The long/short decision involves monitoring the price of the sectors in relation to their respective seven-month moving average price.
 
 
Index Sector Weights

Fund Sector Changes from previous month

Currency Sector Weighting Position
    Prior
Month		 Current
Month
$ US Treasury Bond 15% Long Long
$ US Treasury Note 15% Long Long
$ Canadian Dollar -2% Short Short
$ Australian Dollar -4% Short Short
¥ Japanese Yen 24% Long Long
£ British Pound 10% Short Long
€ Euro -26% Short Short
SFr. Swiss Franc 4% Short Long



Fund Statistics
 
Correlation
• S&P 500 -0.03
• Barclays Capital Aggregate Bond Index 0.49
 
Beta to S&P 500 -0.01
Standard Deviation 9.4%
 
Expense Ratio (Gross/Net %) 1.75/1.75

Total Fund Exposure

 

Data as of 6/30/2010 is subject to change at any time and are not recommendations to buy or sell any security.
 
 
Index Sector Weights

July 2010

Provided by: Victor Sperandeo of Alpha Financial Technologies

Financials – In the Financial sector, U.S. Bonds and U.S. Notes were stronger through the month (we were long Bonds and Notes for June, and remain long both for July). Weaker equities, a slowing economy, and continued European problems have resulted in a continual flow of money into U.S. debt. Interest rates remain at historic lows. The FTI™ was long the Japanese Yen, while short the Euro, Swiss Franc, and the British Pound for June (for July we are now long the Japanese Yen, Swiss Franc, and British Pound, while remaining short the Euro). The Euro continued to weaken in the cross markets, especially against the Japanese Yen. The Swiss Franc is beginning to see buying interest as a safe haven. The Canadian Dollar and Australian Dollar were stronger during the first half of June, and weaker the second half, basically following Energy prices (we were short both for June, and remain short both for July). We believe any developments in China, the Koreas, or the Middle East, any potential increase in terrorist activity, domestic economic news, the global economic situation, political turmoil in Europe, and any major moves in the price of Crude Oil or Gold remain the primary factors influencing the Financial markets.
 
Regulatory Documents (including Prospectus, SAI, Semi-Annual Report and Annual Report)
 
 

An investor should consider the investment objectives, risks, charges, and expenses of the Direxion Funds carefully before investing. The prospectus contains this and other information about Direxion Funds. To obtain a prospectus, please contact the Direxion Funds at 800.851.0511. The prospectus should be read carefully before investing.

Investing in index funds may be more volatile than investing in broadly diversified funds. The use of leverage by a mutual fund increases the risk to the fund. The more a fund invests in leveraged instruments the more the leverage will magnify gains or losses on those investments.

The principal risks of investing in the Financial Trends Strategy Fund are Risk of Tracking Error, High Portfolio Turnover, Leverage Risks, Derivatives Risks, Counterparty Risks, Market Risk, Risk of Non-Diversification, Risks of Options and Futures Contracts, Interest Rate Changes, Risks of Investing in Other Investment Companies and ETFs, Risks of Investing in Equity Securities, Risks of Investing in Foreign Instruments, Currency Exchange Rates, Risks of Shorting Instruments, Security Selection Risk, Risks of Volatile Markets, Credit Risk, and Valuation Time Risk. For more information on the risks of the fund, including a description of each risk, please refer to the prospectus.

Direxion imposes a 1.00% redemption fee on the Financial Trends Strategy Fund for shares redeemed within ninety days of the date of purchase.


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