Fund Evaluator:

Direxion Mthly S&P 500 Bull 1.75X Inv Overview

Direxion Mthly S&P 500 Bull 1.75X Inv (DXSLX) is a passively managed Miscellaneous Trading--Leveraged Equity fund. Direxion Funds launched the fund in 2006.

The investment seeks monthly investment results, before fees and expenses, of 175% of the calendar month performance of the S&P 500® Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the index, exchange-traded funds ("ETFs") that track the index and other financial instruments that provide monthly exposure to the index or to ETFs that track the index. The index is a float-adjusted and market capitalization-weighted index. The fund is non-diversified.

About Direxion Mthly S&P 500 Bull 1.75X Inv (DXSLX)

There are 2 members of the management team with an average tenure of 20.26 years: Tony Ng (2006), Paul Brigandi (2006). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 175%. Direxion Mthly S&P 500 Bull 1.75X Inv has 8 securities in its portfolio. The top 10 holdings constitute 172.8% 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 Mthly S&P 500 Bull 1.75X Inv is part of the Other global asset class and is within the Miscellaneous fund group. Direxion Mthly S&P 500 Bull 1.75X Inv has 0.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 159.9%. There is 0.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Direxion Mthly S&P 500 Bull 1.75X Inv has -60.5% of the portfolio in cash.

Assets Under Management

The fund has $129 million in total assets, which is above the $69 million average for the Trading--Leveraged Equity 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.

DXSLX 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 Mthly S&P 500 Bull 1.75X Inv expense ratio is high compared to funds in the Trading--Leveraged Equity category. Direxion Mthly S&P 500 Bull 1.75X Inv has an expense ratio of 1.49%, which is 27% lower than its category average, making the fund expense ratio grade a A. 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. A portfolio turnover rate cannot be currently calculated for Direxion Mthly S&P 500 Bull 1.75X Inv. By way of comparison, the average portfolio turnover is 398% for the Trading--Leveraged Equity category.

Recently, in the month of July 2026, Direxion Mthly S&P 500 Bull 1.75X Inv returned -0.4%, which earned it a grade of C, as the Trading--Leveraged Equity category had an average return of -2.7%. 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 Mthly S&P 500 Bull 1.75X Inv has a trailing yield of 0.97%, which is below the 1.00% category average. The fund normally distributes its income annually and its capital gains annually.

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 Mthly S&P 500 Bull 1.75X Inv Grades

Year to date, the fund has returned 13.7%, 3.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 28.2% over the past year (grade of D), 27.0% over the past three years (grade of B) and 14.9% per year over the past five years (grade of B) and 22.0% per year over the past 10 years (grade of A).

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