- Last Ratings Update:10/31/2014
- Price as of 10/31/2014 :$47.25
- Net Assets:$195.5 Million
- Peer Rank:4 of 40
- Investment Rating:D+
We rate Direxion Daily Gold Miners Bear 3X at D+. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a short term portfolio management tenure. The fund may be considered for investors seeking a Sector - Precious Metals strategy.
POSITIVES AND RISKS
Total return ranks very high in comparison with peers over the last three years. The Direxion Daily Gold Miners Bear 3X has returned an annual rate of 25.41% since inception. More recently, the fund has generated a total return of 25.05% in the last three years, 16.54% in the last year, and 29.71% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 94% of them. It has also outpaced 77% of its competitors on a one year basis for the period ending 10/31/2014. On a year to date basis, DUST has returned -29.63%.
Downside risk has been above average. DUST has a draw down risk of -87.55%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 119.2%. This fund has experienced excessive volatility in its monthly performance over the last 36 months. As of 10/31/2014, the fund was trading at a price of $47.25, which is 1.6% below its 52-week high of $48.00 and 100.2% above its 52-week low of $23.60.
High expense ratio hinders performance. On total assets of $195.50 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 55 Rafferty Asset Management LLC exchange-traded funds launched since 11/5/2008 that we track.
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