Expense Ratio History

HCYAX expense ratio history

HILTON TACTICAL INCOME FUND, Investor Class

Fund company
Direxion
Type
Mutual fund

1.51%

In basis points
151 basis points
Yearly cost per $10,000
$151
Prospectus dated
29 December 2025, filed with the SEC; rounded to 0.01%
Last change
Cut from 1.52% on 29 December 2025

Fee over time

HCYAX expense ratio: 1.47% until 29 Dec 2015, then 1.73%; 1.73% until 29 Dec 2016, then 1.52%; 1.52% until 29 Dec 2017, then 1.59%; 1.59% until 28 Dec 2018, then 1.96%; 1.96% until 27 Dec 2019, then 1.79%; 1.79% until 29 Dec 2020, then 1.59%; 1.59% until 29 Dec 2021, then 1.46%; 1.46% until 29 Dec 2022, then 1.52%; 1.52% until 29 Dec 2023, then 1.49%; 1.49% until 27 Dec 2024, then 1.52%; 1.52% until 29 Dec 2025, then 1.51%; read at 1.51% on 29 Dec 2025.0.00%1.00%2.00%3.00%Oct 2014Sep 2016Aug 2018Jul 2020Jun 2022May 20241.47% before1.51% from 29 Dec 2025
HCYAX expense ratio: 1.47% until 29 Dec 2015, then 1.73%; 1.73% until 29 Dec 2016, then 1.52%; 1.52% until 29 Dec 2017, then 1.59%; 1.59% until 28 Dec 2018, then 1.96%; 1.96% until 27 Dec 2019, then 1.79%; 1.79% until 29 Dec 2020, then 1.59%; 1.59% until 29 Dec 2021, then 1.46%; 1.46% until 29 Dec 2022, then 1.52%; 1.52% until 29 Dec 2023, then 1.49%; 1.49% until 27 Dec 2024, then 1.52%; 1.52% until 29 Dec 2025, then 1.51%; read at 1.51% on 29 Dec 2025.0.00%1.00%2.00%3.00%Oct 2014Aug 2018Jun 20221.47% before1.51% from 29 Dec 2025
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Share classes

The same fund is sold as 3 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
HCYAX (this page) Investor Class 1.51% 1.29% 29 Dec 2025
HCYIX Institutional Class 1.26% 1.04% 29 Dec 2025
— — 2.34% 2.27% 29 Dec 2017

Every figure we've recorded

DateFeeWhat happened
29 Dec 2025 1.51% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2025 1.51% Cut from 1.52% to 1.51%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2025-12-23
27 Dec 2024 1.52% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-12-27 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
27 Dec 2024 1.52% Raised from 1.49% to 1.52%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2024-12-26
29 Dec 2023 1.49% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2023 1.49% Cut from 1.52% to 1.49%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2023-12-21
29 Dec 2022 1.52% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2022 1.52% Raised from 1.46% to 1.52%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2022-12-23
29 Dec 2021 1.46% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2021 1.46% Cut from 1.59% to 1.46%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2021-12-22
29 Dec 2020 1.59% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2020 1.59% Cut from 1.79% to 1.59%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2020-12-22
27 Dec 2019 1.79% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-12-27 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
27 Dec 2019 1.79% Cut from 1.96% to 1.79%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2020-03-05
28 Dec 2018 1.96% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-12-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Dec 2018 1.96% Raised from 1.59% to 1.96%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2019-01-07
2 Jul 2018 1.59% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-07-02 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2017 1.59% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2017 1.59% Raised from 1.52% to 1.59%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2018-01-18
29 Dec 2016 1.52% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2016 1.52% Cut from 1.73% to 1.52%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2017-01-17
29 Dec 2015 1.73% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2015 1.73% Raised from 1.47% to 1.73%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2016-01-12
1 Jun 2015 1.47% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-06-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2014 1.47% In the prospectusTotal annual fund operating expenses in the prospectus dated 2014-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
13 Oct 2014 1.47% In the prospectusTotal annual fund operating expenses in the prospectus dated 2014-10-13 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 1.51% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$1,812 in fees over 10 years

After fees, $10,000 grows to $14,041.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$155
3 years$481
5 years$829
10 years$1,812

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 15 prospectuses for this share class since 2014. Each one is listed above with a link to the filing.

How we read fees

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