- What does DXQLX invest in?
- Under typical operating conditions, this fund commits a minimum of 80% of its net assets—a figure that may include capital acquired through borrowing—to a strategic mix of investments. These investments include direct securities from the underlying NASDAQ-100 Index, exchange-traded funds (ETFs) designed to mirror that index, and various financial instruments engineered to provide monthly market exposure to either the index itself or its tracking ETFs. The NASDAQ-100 Index, which serves as the fund's benchmark, comprises 100 of the largest domestic and international non-financial corporations traded on the NASDAQ Stock Market®, selected based on their overall market capitalization. Importantly, the fund maintains a non-diversified portfolio.
- What is the expense ratio of DXQLX?
- Direxion Monthly NASDAQ-100 Bull 2X Fund Investor Class (DXQLX) charges an expense ratio of 1.52%. This is the annual fee deducted from fund assets to cover management and operations.
- Is DXQLX a good long-term hold?
- DXQLX is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.
- How does DXQLX's daily reset work?
- DXQLX rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.
- How big is DXQLX?
- Direxion Monthly NASDAQ-100 Bull 2X Fund Investor Class (DXQLX) manages $630.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.
- Is DXQLX actively managed or an index fund?
- DXQLX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
