Direxion Daily FTSE China Bull 3X ETF SEC Filings

Direxion Shares ETF Trust – Direxion HCM Tactical Enhanced US ETF filed a monthly Form N-PORT for the period ended 30 April 2025. The fund reported total assets of US$352.2 million and net assets of US$351.8 million, implying minimal leverage with total liabilities of just US$0.39 million.

Performance. The ETF posted three consecutive negative monthly total returns: -4.33% (Month 1), -14.97% (Month 2), and -12.28% (Month 3). Correspondingly, equity-swap positions generated sizeable realized losses of US$0.29 million, US$51.38 million, and US$56.73 million across the same months, while unrealized depreciation in Month 1 reached US$12.96 million.

Securities lending. The fund had US$1.03 million of securities on loan spread over six counterparties, the largest being Wells Fargo Securities (US$0.86 million). Non-cash collateral comprised US$1.11 million of U.S. Treasuries against a principal amount of US$1.27 million.

Risk & leverage. No borrowings, preferred stock, or delayed-delivery payables were reported, and the fund disclosed zero exposure to debt-spread risk metrics under Item B.3.

Direxion Shares ETF Trust – Direxion Daily Utilities Bull 3X Shares (NYSEARCA:YINN) submitted its monthly Form NPORT-P covering the period ended April 30 2025. The filing shows total assets of $29.88 million, liabilities of $1.11 million, and net assets of $28.77 million.

Performance metrics indicate monthly total returns of +3.75% (Month 1), -0.85% (Month 2), and -2.91% (Month 3). Derivative activity was concentrated in equity swap contracts, producing realized gains of $226.6 k, $197.2 k, and -$437.5 k over the same three-month span, with corresponding unrealized changes of $912.9 k, -$785.6 k, and -$8.4 k. Non-derivative investments recorded realized results of $397.5 k, $180.4 k, and -$524.8 k.

No borrowings, preferred stock, or off-balance-sheet commitments were reported, and the fund disclosed that securities-lending counterparties did not provide non-cash collateral. The filing is routine portfolio information; it does not announce any strategic, managerial, or capital-structure changes.

Direxion Daily FTSE China Bull 3X Shares (NYSE:YINN) submitted a routine Form NPORT-P covering the month ended April 30 2025. The filing relates to the Direxion Daily Travel & Vacation Bull 2X Shares series and lists total assets of $3.88 million, liabilities of $14.1 thousand and net assets of $3.87 million.

Portfolio data show three straight negative monthly returns of –7.46%, –23.84% and –8.35%. Equity swap derivatives produced combined realized and unrealized losses of roughly $1.95 million across the same period. Securities-lending exposure totaled about $43.4 thousand, secured by U.S. Treasury collateral. No borrowings, preferred shares, or other leverage facilities were reported, and credit-spread risk metrics were zero.

The report contains no new risk factors, legal proceedings or strategic announcements, indicating standard regulatory disclosure rather than a material event.

Direxion Shares ETF Trust – Direxion Daily Semiconductor Bull 3X Shares filed a Form NPORT-P for the period ended 30 April 2025.

The leveraged fund disclosed total assets of $9.70 billion, liabilities of $393.8 million and net assets of $9.31 billion, implying a liability ratio of roughly 4 %.

Performance was weak: the last three monthly total returns were -15.9 %, -29.8 % and -23.5 %. Equity swap positions generated significant pressure, with realised losses of $153 million, $877 million and $2.86 billion in the same months and corresponding large unrealised swings.

Securities lending activity totalled about $41.1 million across eight borrowers, led by UBS AG ($13.7 million) and Goldman Sachs ($7.2 million). No borrowings, standby commitments, preferred stock or cash equivalents were reported, and credit-spread risk metrics were left blank, indicating immaterial fixed-income exposure.

Direxion Shares ETF Trust – Direxion Daily NYSE FANG+ Bull 2X Shares filed a Form N-PORT for the month ended 30-Apr-2025 (fiscal year-end 31-Oct-2025). The filing covers a single series (Series ID S000071020; LEI 549300AVX3XI2ZLLLL36) and provides an updated snapshot of portfolio size, recent performance, and derivative activity.

Balance-sheet highlights: total assets were $94.61 million, liabilities $1.59 million, yielding net assets of $93.03 million. Liabilities represent roughly 1.7 % of assets, indicating limited balance-sheet leverage. The fund reported no outstanding borrowings, no preferred stock, and no controlled foreign corporation exposure.

Performance trends (last three months):

• Month 1: –10.51 %
• Month 2: –21.14 %
• Month 3: +10.56 %

Derivatives impact: Equity-swap positions generated sizeable swings. Realised losses totalled $1.23 m, $5.88 m, and $6.74 m in months 1-3, respectively. Unrealised P&L was sharply negative in the first two months ($-7.11 m and $-8.74 m) before a strong positive turn of $13.00 m in month 3. Non-derivative investments showed more modest gains/losses but followed a similar pattern.

Other disclosures: • Securities-lending data, credit-spread risk metrics, and flow information were either not provided or left blank. • The filing does not indicate that it is a final N-PORT submission.

Overall, the fund remains adequately capitalised with low structural leverage, but recent returns underscore the inherent volatility and derivative-driven risk profile of this 2× leveraged strategy.