Direxion Daily CSI 300 China A Share Bear 1X Shares

  • FUND SYMBOL

    CHAD

  • DAILY TARGET

    -100%

  • INTRA-DAY INDICATIVE VALUE

    CHAD.IV

  • BLOOMBERG INDEX

    CSIN0301

  • CUSIP

    25459Y116

  • ISIN

    US25459Y1165

  • EXPENSE RATIO (GROSS/NET %)

    0.87 / 0.84*

  • INCEPTION DATE

    Jun 17, 2015

Overview

The Direxion Daily CSI 300 China A Share Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse of the performance of the CSI 300 Index. There is no guarantee the fund will meet its stated investment objective.

This ETF seeks a return that is -100% of the return of its benchmark index for a single day. The fund should not be expected to provide 100% of the inverse of the benchmark’s cumulative return for periods greater than a day.

Strategy & Benefits

Key Benefits

Single inverse ETFs are trading tools that allow investors to either seek profit or seek to apply a hedge for an existing portfolio position that they anticipate will experience negative returns, in the short term.

  • The fund allows investors a tactical trading alternative to selling out of an existing position and creating a taxable event.
  • Since it does not employ leverage, compounding is less magnified compared to leveraged inverse ETFs.

Inverse ETFs are designed to move in the opposite direction of their benchmarks on a daily basis, and should not be expected to track their underlying indexes over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand the consequences of seeking daily inverse investment results and intend to actively manage their investments.

Target Index

The CSI 300 Index (CSIN0301) 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. One cannot invest directly in an Index.

Index Top Ten Holdings %

Ping An Insurance Group Co of China 5.39
China Merchants Bank Co Ltd 2.42
Kweichow Moutai Co Ltd 2.39
Industrial Bank Co Ltd 1.98
Midea Group Co Ltd 1.84
China Minsheng Banking Corp Ltd 1.74
Gree Electric Appliances Inc of China 1.67
China Vanke Co Ltd 1.64
Bank of Communications Co Ltd 1.59
Inner Mongolia Yili Industrial 1.54

Index Sector Weightings %

Financials 34.92
Industrials 14.80
Consumer Discretionary 11.25
Information Technology 9.11
Materials 7.21
Consumer Staples 7.00
Real Estate 5.37
Health Care 4.76
Utilities 2.48
Energy 2.31
Telecommunication Services 0.79

Index data as of 09/30/2017. Source: Bloomberg. Index sector weightings and top holdings are subject to change.

Pricing and Performance

NAV and Market Price information as of December 15, 2017. Line chart shows pricing trend over the last 30 days.

fund symbol

CHAD

  • Net asset value (NAV)

    • 32.07
    • 0.34
    • 1.07
  • market price closing

    • 31.98
    • 0.30
    • 0.93
  • Premium / Discount

    • -0.09

* The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.80%. The Fund’s Adviser, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with the Fund, under which Rafferty has contractually agreed to cap all or a portion of its management fee and/or reimburse the Fund for Other Expenses through September 1, 2018, to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.80% of the Fund’s daily net assets other than the following: taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses. If these expenses were included, the expense ratio would be higher.

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. For the most recent month-end performance please visit the funds website at roo-okt.ru.

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. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus.

Distributions

  • CHAD
  • Daily CSI 300 China A Share Bear 1X Shares

There are no recent distributions available for this fund.