- Last Ratings Update:10/31/2013
- Price as of 10/31/2013 :$30.65
- Net Assets:$41 Million
- Peer Rank:2 of 43
- Investment Rating:C-
We rate Direxion Daily Gold Miners Bear 3X at C-. This overall rating indicates it is among the top 10% of all closed end mutual funds in its peer group. Positive factors that influence this rating include a low price volatility and low expense structure. The fund may be considered for investors seeking a Sector - Precious Metals strategy.
POSITIVES AND RISKS
New Fund off to good start in the last year. The Direxion Daily Gold Miners Bear 3X has returned an annual rate of 16.60% since inception. More recently, the fund has generated a total return of 114.34% in the last year, -38.14% in the last six months, and -27.69% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 99% of them for the period ending 10/31/2013. On a year to date basis, DUST has returned 68.89%.
Downside risk has been above average. DUST has a draw down risk of -77.54%, which is the largest price decline experienced since the inception of the fund. This fund has a one year standard deviation of 113.8%. This fund has experienced excessive volatility in its monthly performance over the last 12 months. As of 10/31/2013, the fund was trading at a price of $30.65, which is 30.1% below its 52-week high of $43.84 and 20.9% above its 52-week low of $25.36.
High expense ratio hinders performance. On total assets of $41.00 million, DUST maintains a high expense ratio compared to its Sector - Precious Metals peers of 0.95% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As DUST is an exchange traded fund, it has no front end or back end load.
The Direxion Daily Gold Miners Bear 3X is managed by Paul Brigandi at Rafferty Asset Management LLC. This fund is one of 50 Rafferty Asset Management LLC exchange-traded funds launched since 11/5/2008 that we track.
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