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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% Short Short
$ US Treasury Note 15% Long Long
$ Canadian Dollar 2% Short Long
$ Australian Dollar 4% Long Short
¥ Japanese Yen 24% Long Long
£ British Pound 10% Short Short
€ Euro 26% Short Short
SFr. Swiss Franc 4% Short Short



Fund Statistics
 
Correlation
• S&P 500 0.20
• Barclays Capital Aggregate Bond Index 0.47
 
Beta to S&P 500 0.11
Standard Deviation 10.5%
 
Expense Ratio (Gross/Net %) 1.75/1.75

Total Fund Exposure

 

Data as of 2/28/2010 is subject to change at any time and are not recommendations to buy or sell any security.
 
 
Index Sector Weights

March 2010

Provided by: Victor Sperandeo of Alpha Financial Technologies

Financials – In the Financial sector, U.S. Bonds and U.S. Notes were extremely choppy during February, but finished the month slightly higher overall (we were short Bonds and long Notes for February, and maintain those positions for March). The Fed's decision to raise the discount rate, volatile equity and currency markets, and a desire for safety all helped move Bonds and Notes back and forth. The FTITM was long the Japanese Yen, but short the Euro, Swiss Franc, and the British Pound for February (we remain with those positions for March). The problems within the European Union, especially those of Greece and potentially Spain, Portugal and Ireland kept pressure on the European currencies throughout February. The Canadian Dollar and Australian Dollar traded in patterns similar to those of Crude Oil and Gold, finishing the month close to unchanged (we were short the Canadian Dollar but long the Australian Dollar for February. Those positions have reversed for March, and we are now long the Canadian Dollar and short the Australian Dollar). We believe the European turmoil, any developments in China or the Middle East, any potential increase in terrorist activity, the outcome of many of the pending bills in Congress and the proposed health care legislation, domestic economic news, 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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