Fund Evaluator:
Direxion Monthly High Yld Bull 1.2X Inv (DXHYX)
Follow This Fund
Best Performing in Trading--Leveraged Debt Over the Last Year
| 3.6% | Direxion Monthly High Yld Bull 1.2X Inv (DXHYX) |
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Fund Details
Direxion Monthly High Yld Bull 1.2X Inv Overview
Direxion Monthly High Yld Bull 1.2X Inv (DXHYX) is a passively managed Miscellaneous Trading--Leveraged Debt fund. Direxion Funds launched the fund in 2016.
The investment seeks monthly investment results, before fees and expenses, of 120% of the calendar month performance of the Solactive High Yield Beta Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the index, ETFs that track the index and other financial instruments provide monthly leveraged exposure to the index or to ETFs that track the index. The index is a rules-based systematic strategy index calculated in U.S. Dollars that provides exposure to an equal weighted portfolio of three high yield ETFs. It is non-diversified.
About Direxion Monthly High Yld Bull 1.2X Inv (DXHYX)
There are 2 members of the management team with an average tenure of 10.37 years: Tony Ng (2016), Paul Brigandi (2016). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 120% and Solactive High Yield Beta USD index with a weighting of 120%. Direxion Monthly High Yld Bull 1.2X Inv has 7 securities in its portfolio. The top 10 holdings constitute 114.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Direxion Monthly High Yld Bull 1.2X Inv is part of the Other global asset class and is within the Miscellaneous fund group. Direxion Monthly High Yld Bull 1.2X Inv has 9.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 35.4%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 70.7% (61.0% domestic bond, 9.7% foreign bond and 0.0% convertible bond). Direxion Monthly High Yld Bull 1.2X Inv has -6.0% of the portfolio in cash.
Assets Under Management
The fund has $7 million in total assets, which is above the $3 million average for the Trading--Leveraged Debt category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DXHYX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Direxion Monthly High Yld Bull 1.2X Inv expense ratio is high compared to funds in the Trading--Leveraged Debt category. Direxion Monthly High Yld Bull 1.2X Inv has an expense ratio of 1.70%, which is 4% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Direxion Monthly High Yld Bull 1.2X Inv has a portfolio turnover rate of 913%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 894% for the Trading--Leveraged Debt category.
Recently, in the month of June 2026, Direxion Monthly High Yld Bull 1.2X Inv returned -0.1%, which earned it a grade of F, as the Trading--Leveraged Debt category had an average return of 0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Direxion Monthly High Yld Bull 1.2X Inv has a trailing yield of 3.64%, which is above the 2.12% category average. The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Direxion Monthly High Yld Bull 1.2X Inv Grades
Year to date, the fund has returned 0.5%, 1.4 percentage points better than the category, which translates into a grade of A. The fund has returned 3.6% over the past year (grade of A), 7.0% over the past three years (grade of A) and 1.9% per year over the past five years (grade of A) and 3.5% per year over the past 10 years (grade of A).
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DXHYX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DXHYX Return (NAV) | -0.1% | 1.8% | 3.6% | 7.0% | 1.9% | 3.5% |
| DXHYX Grade | F | A | A | A | A | A |
| +/- Category | -1.0% | 1.6% | 3.5% | 10.3% | 11.4% | 7.5% |
| Trading--Leveraged Debt Avg | 0.9% | 0.2% | 0.2% | -3.3% | -9.5% | -4.0% |
| DXHYX Tax Cost Ratio | na | na | 1.5% | 1.8% | 2.4% | 2.4% |
DXHYX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DXHYX Return (NAV) | 0.5% | 7.5% | 6.5% | 10.9% | -14.0% | 3.0% | 2.2% | 12.6% | -3.8% | 5.7% | na |
| DXHYX Grade | A | A | A | A | A | A | F | F | A | F | na |
| +/- Category | 1.4% | 4.3% | 16.1% | 10.5% | 22.4% | 9.4% | -16.1% | -3.4% | 0.8% | -2.5% | na |
| Trading--Leveraged Debt Avg | -0.9% | 3.2% | -9.6% | 0.4% | -36.3% | -6.4% | 18.3% | 16.0% | -4.7% | 8.1% | -0.3% |
| Risk Measures | |
| Standard Deviation: | 5.1% |
| Total Risk Index: | 0.42 - Low |
| Category Risk Index: | 0.35 - Low |
| Category Risk Grade: | A (13% Rank) |
| Beta: | 0.77 |
| R-Squared: | 70% |
| Leveraged Fund: | Yes |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | Low Quality Limited Sensitivity |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $7 Mil |
| Fund Total Assets: | $ 7 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 913% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.4 years | |||
| Average Tenure: 10.4 years | |||
| Managers (Year): Ng Tony (2016), Brigandi Paul (2016) | |||
Portfolio Composition (as of 2/28/26)
| # of Holdings: | 7 |
| % in Top 10 Holdings: | 114.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 9.7% |
Portfolio Allocation |
|
| Domestic Stock: | 35.4% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 61.0% |
| Foreign Bond: | 9.7% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -6.0% |
Purchase Information
| Fund Family: | Direxion Funds |
| Phone Number: | 800-851-0511 |
| Website: | www.direxionfunds.com |
| Status: | Open |
| Inception Date: | February 17, 2016 |
| Min. Initial Purchase: | $25,000 |
| Min. Initial IRA Purchase: | $25,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.70% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.64% |
| Share Class: | Direxion Monthly High Yld Bull 1.2X Inv |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 500 |
