TD AMERITRADE

Friday, November 20, 2009 11:12:05 PM EST

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Direxion Daily Small Cap Bear 3X ShrsNYSE Arca:TZA

Morningstar rating: Not RatedBear Market

Prospectus

$12.35

0.06 (0.49%)

Bid

Ask

B/A Size

IIV

12.36

High

12.66

Low

12.22

Volume

30,270,170 (Average)

Print All Tabs

Gross Expense Ratio

1.02%

Net Expense Ratio

0.95%

Total Assets

$488M

SEC 30 Day Yield (as of 10/31/09 )

Distribution Yield (TTM)

Ann. Dividend/Yield

No Regular Dividends

Ex-Dividend Date

Premium/Discount

0.26%

52-Wk Range
10.71 - 156.58

Low

High

Fund Inception

11/05/2008

Current | 1mo | 3mo | 6mo | 1yr

DJIA

S&P 500

NASDAQ

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About this ETF

The investment seeks to replicate, net of expenses, 300% of the inverse daily performance of the Russell 2000 Index The fund will invest at least 80% of assets in securities that comprise the index. It will also utilize financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The fund is nondiversified.

Investments in bond funds are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Bonds and bond funds will typically decrease in value as interest rates rise.

Leveraged and inverse ETFs entail unique risks, including but not limited to: use of leverage; aggressive and complex investment techniques; and use of derivatives. Leveraged ETFs seek to deliver multiples of the performance of a benchmark. Inverse ETFs seek to deliver the opposite of the performance of a benchmark. Both seek results over periods as short as a single day. Results of both strategies can be affected substantially by compounding. Returns over longer periods will likely differ in amount and even direction. These products require active monitoring and management, as frequently as daily. They are not suitable for all investors.

Learn more about Leveraged, Inverse and Commodity ETFs

Trailing Total Returns

	Market Return % (as of 10/31/2009)	NAV Return % (as of 10/31/2009)	Market Return % (as of 09/30/2009)	NAV Return % (as of 09/30/2009)
1-Month	+17.63%	+18.20%	-17.64%	-17.64%
3-Month	-13.61%	-13.24%	-46.64%	-13.24%
6-Month	-51.95%	-51.26%	-76.40%	-76.07%
Year-to-date	-70.18%	-69.41%	-74.65%	-74.12%
1-Year	--	--	--	--
3-Year	--	--	--	--
5-Year	--	--	--	--
10-Year	--	--	--	--
Since Inception	-79.42%	-79.68%	-82.50%	-82.81%

Inception Date: November 05, 2008

Performance Details

Total return reflects performance without adjusting for sales charges or the effects of taxation, but is adjusted to reflect all actual ongoing fund expenses and assumes reinvestment of dividends and capital gains. If adjusted, sales charges would reduce the performance quoted.

Performance data quoted represents past performance, is no guarantee of future results and may not provide an adequate basis for evaluating the performance potential of the product over varying market conditions or economic cycles. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.

Standardized Returns

	Market Return % (as of 10/31/2009)	NAV Return % (as of 10/31/2009)	Market Return % (as of 09/30/2009)	NAV Return % (as of 09/30/2009)
1-Year	--	--	--	--
5-Year	--	--	--	--
10-Year	--	--	--	--
Since Inception	-79.42%	-79.68%	-82.50%	-82.81%

Inception Date: November 05, 2008

Sector Breakdown

No Sector Data Available.

Top 10 Holdings

Company	YTD Return	% of Assets
* Aim S/T Inves. Trst Coll	--	3.24%
* Aim S/T Inves. Trst Treas	--	8.46%
* Aim S/T Inves. Trst Coll	--	16.59%
* Gs Financial Sq Govt Fund	--	96.76%
* Russ 2000 Indx Small Swap	--	302.95%

* represents an International company or one without a recognizable symbol.

Portfolio Details

Morningstar Wrap-Up

Morningstar Style Box

Bear Market

Not Available

Risk:

Return:

What's This?

Reports and Ratings

Morningstar Rating

NotAvailable

Relative to Category

Fees & Management

Manager	Paul Brigandi
Manager Start	11/5/2008
Management Fee	0.75%
Expense Ratio	0.95%

Market data accompanied by is delayed by atleast 15 minutes for NASDAQ, AMEX, NYSE and Options. Duration of the delay for other exchanges vary.

Before investing in an ETF, be sure to carefully consider the fund's objectives, risks, charges, and expenses. For a prospectus containing this and other important information, please click the prospectus link. Please read the prospectus carefully before investing.

TDX Independence Funds, Inc. ETFs are distributed by ALPS Distributors, Inc. Amerivest Investment Management LLC serves as a sub-advisor to the Funds. TD AMERITRADE is not affiliated with TDX Independence Funds, Inc. or ALPS Distributors, Inc. Amerivest Investment Management LLC is a subsidiary of TD AMERITRADE Holding Corporation.

Research and planning tools are obtained by unaffiliated third party sources deemed reliable by TD AMERITRADE. However, TD AMERITRADE does not guarantee accuracy and completeness, and makes no warranties with respect to results to be obtained from their use. ETFs are baskets of securities that track recognized indexes and trade on an exchange like a stock. Commission fees apply.

Morningstar Risk-Adjusted Ratings: The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10- year (if applicable) Morningstar Rating Metrics. Morningstar, Inc. is an independent publisher of mutual fund research and ratings. Ratings reflect a fund's risk-adjusted 3-, 5-, and 10-year total returns, including any sales charge. A Fund is rated against all other funds in its category. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%; 3 stars to the next 35%; 2 stars to the next 22.5%; and 1 star to the bottom 10%. Morningstar only rates funds with at least a 3-year history.

Market data is provided by

Morningstar Associates, LLC is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. The information, data and opinions contained herein include proprietary information of Morningstar Associates and may not be copied or redistributed for any purpose. The mutual funds selected by Morningstar Associates for the Premier List have been derived from a universe of mutual funds made available through TD AMERITRADE. Both the universe of mutual funds defined by TD AMERITRADE and the Premier List are subject to change without notice. Morningstar Associates does not warrant this information to be accurate, complete or timely. Morningstar Associates is not responsible for any damages or losses arising from the use of this information. Particular mutual funds on the Premier List may not be appropriate investments for you under your circumstances, and there may be other mutual funds or investment options offered by TD AMERITRADE that are more suitable. Past performance is no guarantee of future results.

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3rd Party Research Disclosure /public-23:9:34

Market Data Disclosure