Data as of .
NFX vs NFXL: which held to its multiple?
Over the days both have traded, NFX finished 1.9 points from its stated multiple and NFXL 2.0.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| NFX | NFXL | NFX | NFXL | NFX | NFXL | |
| 1 month | +6.7% | +6.6% | +8.6% | +8.6% | −1.9 pts | −2.0 pts |
| 3 months | not published | −12.8% | not published | −7.3% | not published | −5.5 pts |
| 6 months | not published | −41.1% | not published | −37.6% | not published | −3.6 pts |
| 1 year | not published | −67.4% | not published | −71.4% | not published | +4.0 pts |
| Since launch | −1.1% | −23.1% | +3.2% | +19.0% | −4.3 pts | −42.1 pts |
| NFX Corgi NFLX 2x Daily ETF Aims to return twice the daily move of Netflix (NFLX) | NFXL Direxion Daily NFLX Bull 2X ETF Aims to return twice the daily move of Netflix (NFLX) | |
|---|---|---|
| Issuer | Corgi | Direxion |
| Sets out to return | +2x | +2x |
| On | NFLX | NFLX |
| Segment | company | company |
| Fund returned, 3 months | +6.7% | −12.8% |
| Underlying returned, 3 months | +4.3% | −3.7% |
| What the stated multiple implies, 3 months | +8.6% | −7.3% |
| Difference from stated, 3 months | −1.9 pts | −5.5 pts |
| Fund returned, 1 year or since launch | −1.1% | −67.4% |
| Difference from stated, over that window | −4.3 pts | +4.0 pts |
| Underlying volatility | 37% | 38% |
| Difference over the days both have traded | −1.9 pts | −2.0 pts |
| Expense ratio | 0.45% | 1.05% |
| Launched | Jul 7, 2026 | Oct 3, 2024 |
NFX in plain words
One month to Sep 11, 2026: NFX returned +6.7% where its own daily promise gave +7.6%, 0.8 points short. Read the multiple against the whole window instead and +2 times NFLX's 4.3% implies +8.6%, which makes NFX look 1.9 points short. 1.0 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. NFX aims to return +2 times NFLX's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. NFLX moved at 37% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
NFXL in plain words
Three months to Sep 11, 2026: NFXL returned −12.8% where its own daily promise gave −10.4%, 2.3 points short. Read the multiple against the whole window instead and +2 times NFLX's −3.7% implies −7.3%, which makes NFXL look 5.5 points short. 3.1 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. NFXL aims to return +2 times NFLX's move each day, then resets. NFLX moved at 38% annualized over that window.
Questions people ask
- Which came closer to its stated multiple, NFX or NFXL?
- Over the window to Sep 11, 2026, NFX finished 1.9 points from what its multiple implies and NFXL finished 5.5 points from its own, so NFX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NFX and NFXL levered on the same thing?
- Yes. Both are levered on Netflix, NFX at +2 times and NFXL at +2 times the daily move.
- Which one decays faster, NFX or NFXL?
- Decay follows how much the underlying moves about. Over this window NFX’s moved at 37% annualized and NFXL’s at 38%, so NFXL has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NFX or NFXL for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, NFX or NFXL?
- NFX charges 0.45% a year and NFXL charges 1.05%, so NFX is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, NFX against NFXL, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/NFX-NFXL Free to use with attribution; the underlying files are at Open data.