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Direxion Daily CSI 300 China A Share Bear 1X Shares

ETF
CHAD
Payout Change
Suspended
Price as of:
$19.39 +0.32 +1.68%
primary theme
N/A
CHAD (ETF)

Direxion Daily CSI 300 China A Share Bear 1X Shares

Payout Change
Suspended
Price as of:
$19.39 +0.32 +1.68%
primary theme
N/A
CHAD (ETF)

Direxion Daily CSI 300 China A Share Bear 1X Shares

Payout Change
Suspended
Price as of:
$19.39 +0.32 +1.68%
primary theme
N/A

Name

As of 02/17/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Direxion Daily CSI 300 China A Share Bear 1X Shares

CHAD | ETF

$19.39

$159 M

0.00%

$0.00

0.76%

Vitals

YTD Return

-4.9%

1 yr return

12.4%

3 Yr Avg Return

-11.8%

5 Yr Avg Return

-7.9%

Net Assets

$159 M

Holdings in Top 10

N/A

52 WEEK LOW AND HIGH

$19.4
$17.29
$24.32

Expenses

OPERATING FEES

Expense Ratio 0.76%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 02/17/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Direxion Daily CSI 300 China A Share Bear 1X Shares

CHAD | ETF

$19.39

$159 M

0.00%

$0.00

0.76%

CHAD - Profile

Distributions

  • YTD Total Return -4.9%
  • 3 Yr Annualized Total Return -11.8%
  • 5 Yr Annualized Total Return -7.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.70%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Direxion Daily CSI 300 China A Share Bear 1X Shares
  • Fund Family Name
    Direxion Funds
  • Inception Date
    Jun 17, 2015
  • Shares Outstanding
    8100000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Paul Brigandi

Fund Description

The Index is a modified free-float market capitalization weighted index comprised of the largest and most liquid stocks in the Chinese A-share market. Index constituent stocks must have been listed for more than three months (unless the stock’s average daily A-share market capitalization since its initial listing ranks among the top 30 of all A-shares) and must not be experiencing obvious abnormal fluctuations or market manipulations.As of December 31, 2021, the Index included 300 securities with an average market capitalization of $156.2 billion, total market capitalizations ranging from $4.8 billion to $405.2 billion and were concentrated in the financials, information technology, consumer staples, and industrials sectors.A-shares are issued by companies incorporated in the People’s Republic of China (“China” or the “PRC”). A-shares are traded in renminbi (“RMB”) on the Shenzhen Stock Exchange or Shanghai Stock Exchange (“SSE”). The A-share market in China is made available to domestic PRC investors and certain foreign investors, including those foreign investors that have been approved as Renminbi Qualified Foreign Institutional Investors (“RQFII”) or as Qualified Foreign Institutional Investors (“QFII”). A RQFII or QFII license may be obtained by submitting an application to the China Securities Regulatory Commission (“CSRC”). After obtaining a RQFII or QFII license, the RQFII or QFII also applies to China’s State Administration of Foreign Exchange (“SAFE”) for a specific aggregate dollar amount investment quota in which the RQFII or QFII can invest in A-shares. Additionally, an investment in eligible A-shares listed and traded on the SSE is also permitted through the Shanghai-Hong Kong Stock Connect program (“Stock Connect”), a securities trading and clearing program established by Hong Kong Securities Clearing Company Limited, the SSE and China Securities Depository and Clearing Corporation Limited.The components of the Index and the percentages represented by various sectors in the Index may change over time. The Fund will concentrate its investment in a particular industry or group of industries (i.e., hold 25% or more of its total assets in investments that provide inverse exposure to a particular industry or group of industries) to approximately the same extent as the Index is so concentrated.The Fund, under normal circumstances, invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short exposure to the Index equal to at least 80% of the Fund’s net assets (plus borrowing for investment purposes). Because the Fund does not satisfy the criteria to qualify as a RQFII or QFII itself and does not intend to trade through Stock Connect, the Fund expects to invest a majority of its assets in swaps that provide short exposure to ETFs that seek to replicate the performance of the Index. The Fund may also utilize futures contracts and other types of derivative instruments or financial instruments that seek to replicate the performance of the Index to obtain the inverse exposure necessary to achieve its investment objective. The Fund may do this by utilizing swaps that provide short exposure on ETFs that track a similar index or futures contracts on a similar index.The Fund may also gain inverse exposure by investing in a combination of financial instruments, such as swaps or futures contracts that provide short exposure to the Index, to a representative sample of the securities in the Index that has aggregate characteristics similar to those of the Index or to an ETF that tracks the same Index or a substantially similar index, or the Fund may short securities of the Index, or short an ETF that tracks the same Index or a substantially similar index. The Fund invests in derivatives as a substitute for directly shorting securities in order to gain inverse exposure to the Index or its components. When the Fund shorts securities, including the securities of another investment company, it borrows shares of that security or investment company, which it then sells. The Fund closes out a short sale by purchasing the security that it has sold short and returning that security to the entity that lent the security. On a day-to-day basis, the Fund is expected to hold money market funds, deposit accounts with institutions with high quality credit ratings, and/or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements.The Fund seeks to remain fully invested at all times consistent with its stated inverse investment objective, but may not always have inverse exposure to all of the securities in the Index, or its weighting of inverse exposure to securities or industries may be different from that of the Index. In addition, the Fund may have inverse exposure to securities, ETFs or financial instruments not included in the Index.The Fund will attempt to achieve its investment objective without regard to overall market movement or the increase or decrease of the value of the securities in the Index. At the close of the markets each trading day, Rafferty rebalancesthe Fund’s portfolio so that its exposure to the Index is consistent with the Fund’s inverse investment objective. For example, if the Index has fallen on a given day, net assets of the Fund should rise, meaning that the Fund’s exposure will need to be increased. Conversely, if the Index has risen on a given day, net assets of the Fund should fall, meaning the Fund’s exposure will need to be reduced and that a shareholder should lose money, a result that is the opposite of traditional index tracking ETFs. This re-positioning strategy may result in high portfolio turnover. The terms “daily,” “day,” and “trading day,” refer to the period from the close of the markets on one trading day to the close of the markets on the next trading day.The Fund is “non-diversified,” meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities. Additionally, the Fund’s investment objective is not a fundamental policy and may be changed by the Fund’s Board of Trustees without shareholder approval.Because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from -100% of the return of the Index over the same period. The Fund will lose money if the Index performance is flat over time, and as a result of daily rebalancing, the Index’s volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Index's performance decreases over a period longer than a single day.
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CHAD - Performance

Return Ranking - Trailing

Period CHAD Return Category Return Low Category Return High Rank in Category (%)
YTD -4.9% -52.8% 67.4% 38.73%
1 Yr 12.4% -78.5% 65.8% 7.19%
3 Yr -11.8%* -90.3% 67.1% 32.12%
5 Yr -7.9%* -72.4% 31.5% 33.85%
10 Yr N/A* -68.2% 2.4% N/A

* Annualized

Return Ranking - Calendar

Period CHAD Return Category Return Low Category Return High Rank in Category (%)
2023 25.1% -91.3% 117.2% 34.31%
2022 -4.0% -100.0% 39.6% 20.29%
2021 -13.6% -78.2% 102.0% 47.10%
2020 -8.1% -36.6% 351.8% 41.04%
2019 5.2% -11.7% 8.4% 11.63%

Total Return Ranking - Trailing

Period CHAD Return Category Return Low Category Return High Rank in Category (%)
YTD -4.9% -75.6% 140.2% 38.73%
1 Yr 12.4% -78.5% 65.8% 7.19%
3 Yr -11.8%* -90.3% 67.1% 32.12%
5 Yr -7.9%* -72.4% 31.5% 33.85%
10 Yr N/A* -68.2% 2.4% N/A

* Annualized

Total Return Ranking - Calendar

Period CHAD Return Category Return Low Category Return High Rank in Category (%)
2023 25.1% -91.3% 117.2% 34.31%
2022 -4.0% -100.0% 39.6% 20.29%
2021 -13.6% -78.2% 102.0% 47.10%
2020 -8.1% -36.6% 30.0% 41.04%
2019 5.2% -11.7% 8.4% 11.63%

CHAD - Holdings

Concentration Analysis

CHAD Category Low Category High CHAD % Rank
Net Assets 159 M 304 K 2.47 B 15.48%
Number of Holdings 6 3 602 85.43%
Net Assets in Top 10 164 M -7.43 B 447 M 4.64%
Weighting of Top 10 N/A 7.7% 100.0% 88.89%

Top 10 Holdings

  1. Dreyfus Government Secs Cash Mgmt Admin 98.60%
  2. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%
  3. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%
  4. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%
  5. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%
  6. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%
  7. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%
  8. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%
  9. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%
  10. Deutsche X-Trackers Harvest Csi 300 Swap 8.53%

Asset Allocation

Weighting Return Low Return High CHAD % Rank
Cash 		100.89% -114.39% 361.39% 64.90%
Preferred Stocks 		0.00% 0.00% 0.00% 100.00%
Other 		0.00% -207.14% 100.00% 67.55%
Convertible Bonds 		0.00% 0.00% 2.47% 100.00%
Bonds 		0.00% -95.77% 114.58% 94.04%
Stocks 		-0.89% -300.04% 200.58% 45.70%

CHAD - Expenses

Operational Fees

CHAD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.76% 0.49% 5.20% 95.14%
Management Fee 0.60% 0.35% 1.50% 3.21%
12b-1 Fee 0.00% 0.00% 1.00% 45.45%
Administrative Fee N/A 0.03% 0.45% N/A

Sales Fees

CHAD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

CHAD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CHAD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 459.00% 47.76%

CHAD - Distributions

Dividend Yield Analysis

CHAD Category Low Category High CHAD % Rank
Dividend Yield 0.00% 0.00% 1.57% 100.00%

Dividend Distribution Analysis

CHAD Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

CHAD Category Low Category High CHAD % Rank
Net Income Ratio -0.70% -7.24% 3.75% 13.74%

Capital Gain Distribution Analysis

CHAD Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

CHAD - Fund Manager Analysis

Managers

Paul Brigandi

Start Date

Tenure

Tenure Rank

Jun 17, 2015

6.96

7.0%

Paul Brigandi, the Fund’s Portfolio Manager, is primarily responsible for the day-to-day management of the Fund. An investment trading team of Rafferty employees assists Mr. Brigandi in the day-to-day management of the Fund subject to his primary responsibility and oversight. The Portfolio Manager works with the investment trading team to decide the target allocation of the Fund’s investments and on a day-to-day basis, an individual portfolio trader executes transactions for the Fund consistent with its target allocation. The members of the investment trading team rotate among the various series of the Trust, including the Fund periodically so that no single individual is assigned to a specific Fund for extended periods of time. Mr. Brigandi has been a Portfolio Manager at Rafferty since June 2004. Mr. Brigandi was previously involved in the equity trading training program for Fleet Boston Financial Corporation from August 2002 to April 2004. Mr. Brigandi is a 2002 graduate of Fordham University.

Tony Ng

Start Date

Tenure

Tenure Rank

Sep 30, 2015

6.67

6.7%

Tony Ng is a Portfolio Manager and joined Rafferty Asset Management in April 2006. He was previously a Team Leader in the Trading Assistant Group with Goldman Sachs from 2004 to 2006. Hg was employed with Deutsche Asset Management from 1998 to 2004. Mr. Ng graduated from State University at Buffalo in 1998.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 23.76 8.53 14.22

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