Direxion Monthly S&P 500 Bull 1.75X Fund Investor Class DXSLX Strategy

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.