Direxion Monthly 10 Year Note Bull 2x Fund

DXKLX

Symbol	Fund	Index/Benchmark	Monthly Target	Estimated Current Exposure Level *
DXKLX	Monthly 10 Year Note Bull 2x Fund	10 Year Treasury Note	200%	201%

* Estimated Current Exposure Level data updated as often as once per minute, but this web page must be refreshed to obtain updated data.

CUSIP: 254939689
Inception Date: 3/31/2005

The Direxion Monthly 10 Year Note Bull 2x Fund seeks monthly investment results, before fees and expenses, of 200% of the calendar month performance of the 10 Year Treasury Note.

The 10 Year Treasury Note is the most recently issued U.S. Treasury Note with a ten year maturity. A new 10 Year Treasury Note is issued each February, May, August and November.

Regulatory Documents (including Prospectus, SAI, Semi-Annual Report and Annual Report)

As of 9/30/2009, the Bull Fund's investment objective has changed from seeking daily investment results, before fees and expenses, of 250% of the price performance of its benchmark to seeking monthly investment results, before fees and expenses, of 200% of the price performance of its benchmark.

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 10 Year Note Bull 2x Fund are Market Timing Activity and High Portfolio Turnover, Risk of Tracking Error, Risks of Aggressive Investment Techniques, Leverage Risk, Counterparty Risks, Risk of Non-Diversification, Interest Rate Changes, Risks of Investing in Other Investment Companies and ETFs, Adverse Market Conditions, and Credit Risk. For more information on the risks of the fund, including a description of each risk, please refer to the prospectus.