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Spectrum Funds

  • Portfolio Insights by Hundredfold Advisors LLC
  • Spectrum Fact Sheets: Equity Opportunity Fund | Global Perspective Fund | Select Alternative Fund
  • Regulatory Documents: Prospectus | SAI | Semi-Annual Report | Annual Report
    Supplement to the Prospectus | Supplement to the SAI

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



    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. 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. For additional information, see the fund's prospectus.

    An investor should consider the investment objectives, risks, charges, and expenses of any of the Direxion Funds before investing. There is no guarantee that any Direxion Fund will achieve its investment objective. Investors should review the prospectus for more information about investing in Direxion Funds.

    The principal risks of investing in the Spectrum Funds are Risks of the Subadviser's Investment Strategy, Risks of Aggressive Investment Techniques, High Portfolio Turnover, Risk of Investing in Derivatives, Risks of Investing in ETFs, Risks of Investing in Other Investment Companies, Swap Agreement Risks, Risk of Asset-Backed Securities, Leverage Risk, Risks of Shorting Securities, and Risk of Non-Diversification. The additional risks of investing in the Spectrum Select Alternative Fund are Credit Risk and Lower-Quality Debt Securities, Interest Rate Changes, Prepayment Risk, and Risk of Asset-Backed Securities. The additional risks of investing in the Spectrum Global Perspective Fund are Risks of Investing in Equity Securities, Risks of Investing in Foreign Securities, Risks of Investing in Emerging Markets, Credit Risk and Lower-Quality Debt Securities, and Risks of Investing in Small and Mid-Capitalization Companies. The additional risks of investing in the Spectrum Equity Opportunity Fund are Risks of Investing in Equity Securities, Risks of Investing in Small Capitalization Companies, and Risks of Investing in Foreign Securities. For more information on the risks of the Spectrum Funds, including a description of each risk, please refer to the prospectus.
     
  • After-Tax and After-Tax, Post Sales Returns

    Tax-adjusted returns and tax cost ratio are estimates of the impact taxes have had on a fund. We assume the highest tax rate in calculating these figures. These returns follow the SEC guidelines for calculating returns before sale of shares. Tax-adjusted returns show a fund’s annualized after tax total return for the one, three and five year periods, excluding any capital-gains effects that would result from selling the fund at the end of the period. To determine this figure, all income and short-term capital gains distributions are taxed at the maximum federal rate at the time of distribution. Long-term capital gains are taxed at a 15% rate. The after tax portion is then assumed to be reinvested in the fund. State and local taxes are not included in our calculations. For more information, please consult your tax consultant.

     
  • Distribution Dates

    Payable and Ex-Date
    With regard to mutual funds, this is the day on which declared distributions (dividends or capital gains) are deducted from the fund's assets before it calculates its net asset value (NAV). The NAV per share will drop by the amount of the distribution per share.

    Record Date
    Date by which a shareholder must officially own shares in order to be entitled to a dividend.
  • Types of Distributions

    Income Dividend
    A portion of a company's profit paid to common and preferred shareholders.

    Long Term Capital Gains
    Profits distributed to shareholders resulting from the sale of securities held in the fund's portfolio for more than one year.

    Short Term Capital Gains
    Profits distributed to shareholders resulting from the sale of securities held in the fund’s portfolio for less than one year.

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