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Originally Posted by strykn
ive never heard of any management fee... jason 200k in an etf ur nuts lol
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Quote:
**Rafferty has contractually agreed to waive all or a portion of it’s fees and/or reimburse the fund for expenses
through April 1, 2013, to the extent that the funds net annual operating expenses exceed 0.95%.
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http://www.direxionshares.com/pdfs/FASFAZ_FS.pdf
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FEES AND EXPENSES . Expense Ratio 0.95%
Gross Expense Ratio 0.98%
Net Expense Ratio 0.95%
Management Fee 0.75%
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ETF Snapshot - MSN Money
From what I can tell the .75% management fee would be deducted from the equity in the fund or dividends paid through holdings in the fund. Though you may not personally "see" the management fee being collected, it is in fact coming out of your pocket.
For the record, I do not have 235k invested in FAZ lol