Direxion Indexed Managed Futures Strategy Fund

Symbol	Fund	Index/Benchmark
DXMAX	Direxion Indexed Managed Futures Strategy Fund - A Shares	Auspice Managed Futures ER Index
DXMIX	Direxion Indexed Managed Futures Strategy Fund - Institutional Class	Auspice Managed Futures ER Index
DXMCX	Direxion Indexed Managed Futures Strategy Fund - C Shares	Auspice Managed Futures ER Index

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

A Shares
Symbol: DXMAX
CUSIP: 254939291
Inception Date: 02/01/2012

Institutional Class
Symbol: DXMIX
CUSIP: 254939275
Inception Date: 02/01/2012

C Shares
Symbol: DXMCX
CUSIP: 254939283
Inception Date: 02/01/2012

The Direxion Indexed Managed Futures Strategy Fund seeks investment results, before fees and expenses, generally comparable to the performance of the Auspice Managed Futures ER Index (AMFERI), a long/short managed futures index.

The Auspice Managed Futures ER Index aims to capture upward and downward trends in the commodity and financial markets while carefully managing risk. The index will use a quantitative methodology to track either long or short positions in a diversified portfolio of 21 exchange traded futures which cover the energy, metal, agricultural, interest rate, and currency sectors. The index incorporates dynamic risk management and contract rolling methods.

Component and Sector Weights

Data as of 2/1/2012 is subject to change at any time and are not recommendations to buy or sell any security.

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 or summary 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 Direxion Indexed Managed Futures Strategy Fund are Active and Frequent Trading Risk, Adverse Market Conditions Risk, Agriculture Investment Risk, Commodity Linked Derivatives Risk, Counterparty Risk, Credit Risk, Currency Exchange Rate Risk, Currency investment Risk, Debt instrument Risk, Derivatives Risk, Emerging Markets Risk, Energy Investment Risk, Foreign Securities Risk, Futures Contracts Risk, Interest Rate Risk, Leverage Risk, Market Risk, Non-Diversification Risk, Other Investment Companies (including Exchange-Traded Funds) Risk, Precious Metals Investment Risk, Regulatory Risk, Sector Risk, Shorting Securities Risk, Subsidiary Investment Risk, Tax Risk, Tracking Error Risk, and Volatility Risk.