hot gold mining funds Sign in with FacebookSign in with GoogleSign In FAQ You are logged in as Log outSign In discount michael kors FAQ Two months into 2014, one mutual fund is up more than 100%. But beware chasing these gains. Gold bars stacked at the plant of gold refiner and producer Argor Heraeus.(Photo: Sebastian Derungs, AFP/Getty Images)Just two short months into 2014, we already have one mutual fund that’s up more than 100%. But don’t chase these gains: The fund is so risky that even its sponsors warn investors off. Direxion Daily Junior Gold Miners Michael Kors From China Index Bull 3X shares (JNUG), soared 101.5% from Dec. 31, 2013, through the end of February, says Morningstar, which tracks the funds. How did the fund do that? The fund tracks the shares of small and mid size gold mining michael kors handbags stocks, which tend to jump the most when gold prices rise. The "daily" and "3X" means that on a day when the index rises 1%, the fund will rise 3%, before expenses. The same holds true in reverse. It does that through leverage: Using futures and options to amplify returns. Direxion Daily Junior Gold Miners Index Bull 3X shares‘ prospectus lists nearly five pages of risks, and that’s in the shortened summary prospectus. One arresting warning: "The Fund could Michael Kors handbags outlet theoretically lose an amount greater than its net assets in the event of an Index decline of more than 33%." The full prospectus is more blunt: "Investors who do not understand the Funds or do not intend Michael Kors Handbags to actively manage their funds and monitor their investments should not buy the Funds." Funds that use triple leverage aren’t meant for well, anyone who worries about losing money. The fund’s mirror image, Direxion Daily Junior Gold Miners Bear 3X fund, has plunged 71.3% this year.
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