- Last Ratings Update:09/30/2014
- Price as of 09/30/2014 :$59.44
- Net Assets:$23.6 Million
- Peer Rank:49 of 130
- Investment Rating:B-
We rate Direxion S&P 500 Vol Response Shs at B-. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a low expense structure. The fund may be considered for investors seeking a Growth & Income strategy.
POSITIVES AND RISKS
New Fund off to good start in the last year. The Direxion S&P 500 Vol Response Shs has returned an annual rate of 17.54% since inception. More recently, the fund has generated a total return of 18.59% in the last year, 6.22% in the last six months, and -0.51% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 79% of them for the period ending 9/30/2014. On a year to date basis, VSPY has returned 7.76%.
Downside risk has been below average. VSPY has a draw down risk of -7.06%, which is the largest price decline experienced since the inception of the fund. This fund has a one year standard deviation of 8.4%. This fund has had very little volatility in its monthly performance over the last 12 months. As of 9/30/2014, the fund was trading at a price of $59.44, which is 3.2% below its 52-week high of $61.39 and 0.3% above its 52-week low of $59.26.
Low expense ratio helps performance. On total assets of $23.60 million, VSPY maintains a low expense ratio compared to its Growth & Income peers of just 0.49% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As VSPY is an exchange traded fund, it has no front end or back end load.
The Direxion S&P 500 Vol Response Shs is managed by Paul Brigandi at Rafferty Asset Management LLC. This fund is one of 54 Rafferty Asset Management LLC exchange-traded funds launched since 11/5/2008 that we track.
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