# EDGAR Filing Document

**Accession Number:** 0001040587
**File Stem:** 0001193125-23-000585
**Filing Date:** 2023-1
**Character Count:** 4829
**Document Hash:** ff8a24abf58d9344eab7a341cc59db34
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-000585.hdr.sgml**: 20230103

**ACCESSION NUMBER**: 0001193125-23-000585

**CONFORMED SUBMISSION TYPE**: 497J

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230103

**DATE AS OF CHANGE**: 20230103

**EFFECTIVENESS DATE**: 20230103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DIREXION FUNDS
- **CENTRAL INDEX KEY:** 0001040587
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 497J
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-28697
- **FILM NUMBER:** 23501451

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 AVENUE OF THE AMERICAS (6TH AVENUE)
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 646-572-3390

**MAIL ADDRESS:**
- **STREET 1:** 1301 AVENUE OF THE AMERICAS (6TH AVENUE)
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** POTOMAC FUNDS
- **DATE OF NAME CHANGE:** 19970606

## Series and Classes Contracts Data

### Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund (Series ID: S000007025)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000019202 | Investor Class | DXKLX           |

### Direxion Monthly Small Cap Bull 1.75X Fund (Series ID: S000007044)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000019221 | Investor Class | DXRLX           |

### Direxion Monthly Small Cap Bear 1.75X Fund (Series ID: S000007045)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000019222 | Investor Class | DXRSX           |

### Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund (Series ID: S000007050)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000019229 | Investor Class | DXKSX           |

### Direxion Monthly S&P 500(R) Bull 1.75X Fund (Series ID: S000011950)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000032626 | Investor Class | DXSLX           |

### Direxion Monthly NASDAQ-100(R) Bull 1.75X Fund (Series ID: S000011960)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000032646 | Investor Class | DXQLX           |

### Direxion Monthly S&P 500(R) Bear 1.75X Fund (Series ID: S000011964)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000032654 | Investor Class | DXSSX           |

### HILTON TACTICAL INCOME FUND (Series ID: S000046967)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000146784 | Investor Class      | HCYAX           |
| C000146785 | Institutional Class | HCYIX           |

### DIREXION MONTHLY HIGH YIELD BULL 1.2X FUND (Series ID: S000052787)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000165828 | Investor Class | DXHYX           |

### Direxion Monthly NASDAQ-100(R) Bull 1.25X Fund (Series ID: S000053315)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000167765 | Investor Class | DXNLX           |

Rafferty Asset Management, LLC <br>1301 Avenue of the Americas (6th Avenue), 28th Floor <br>New York, New York 10019

January 3, 2023

**<u>FILED VIA EDGAR</u>**

United States Securities and Exchange Commission <br>Division of Investment Management <br>100 F Street, N.E. <br>Washington, D.C. 20549-1004

Re: **Direxion Funds (the "Trust")** <br>**File Nos. 333-28697 and 811-08243**

Dear Sir or Madam:

Pursuant to Rule 497(j) under the Securities Act of 1933 (the "Act"), the Trust hereby certifies that the forms of the Prospectuses and Statements of Additional Information for the Hilton Tactical Income Fund, Direxion Monthly High Yield Bull 1.2X Fund, Direxion Monthly NASDAQ-100<sup>®</sup> Bull 1.25X Fund, Direxion Monthly S&P 500<sup>®</sup> Bull 1.75X Fund, Direxion Monthly S&P 500<sup>®</sup> Bear 1.75X Fund, Direxion Monthly NASDAQ-100<sup>®</sup> Bull 1.75X Fund, Direxion Monthly Small Cap Bull 1.75X Fund, Direxion Monthly Small Cap Bear 1.75X Fund, Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund, and the Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund, which would have been filed under Rule 497(b) or (c) under the Act would not have differed from the documents each dated December 29, 2022, filed electronically as Post-Effective Amendment No. 205 to the Trust's Registration Statement on Form N-1A on December 22, 2022.

If you have any questions concerning the foregoing, please contact Angela Brickl of Rafferty Asset Management, LLC at (646) 572-3463, Alyssa Sherman of Rafferty Asset Management, LLC at (646) 572-3633, or Stacy L. Fuller of K&L Gates at (202) 778-9475.

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| |
|:---|
| Sincerely, |
| DIREXION FUNDS |
| /s/ Alyssa Sherman |
| Secretary |
| Rafferty Asset Management, LLC |

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