Which came closer to its stated multiple, ELIL or LLYX?

Over the window to Sep 30, 2026, ELIL finished 3.8 points from what its multiple implies and LLYX finished 4.8 points from its own, so ELIL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are ELIL and LLYX levered on the same thing?

Yes. Both are levered on Eli Lilly and, ELIL at +2 times and LLYX at +2 times the daily move.

Which one decays faster, ELIL or LLYX?

Decay follows how much the underlying moves about. Over this window ELIL’s moved at 30% annualized and LLYX’s at 30%, so ELIL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold ELIL or LLYX 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, ELIL or LLYX?

ELIL charges 1.07% a year and LLYX charges 1.49%, so ELIL is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

ELIL vs LLYX: which held to its multiple?

Over the days both have traded, ELIL finished 3.8 points from its stated multiple and LLYX 4.8. Direxion Daily LLY Bull 2X ETF and Defiance Daily Target 2X Long LLY ETF.

−9.3%

ELIL returned, 3 months

−10.3%

LLYX returned, 3 months

−3.8 pts

ELIL from its stated multiple

−4.8 pts

LLYX from its stated multiple

ELIL · 3 months to Sep 30, 20263.8 pts short of its stated multiple

ELIL returned −9.3% while 2 times LLY's move would have been −5.5%

LLYX · 3 months to Sep 30, 20264.8 pts short of its stated multiple

LLYX returned −10.3% while 2 times LLY's move would have been −5.5%

ETFIQ Decay Resistance Score · ELIL scores higherDid it keep up with its own daily multiple, compounded day by day?

ELIL 75.3

LLYX 45.4

0.1, the lowest in this set99.9, the highest

A percentile among the 470 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	ELIL	LLYX	ELIL	LLYX	ELIL	LLYX
1 month	−0.9%	−1.3%	+0.1%	+0.1%	−1.0 pts	−1.3 pts
3 months	−9.3%	−10.3%	−5.5%	−5.5%	−3.8 pts	−4.8 pts
6 months	+34.2%	+31.5%	+43.2%	+43.2%	−9.1 pts	−11.7 pts
1 year	+88.8%	+81.4%	+105.2%	+105.2%	−16.4 pts	−23.8 pts
Since launch ELIL Mar 2025 · LLYX Aug 2024	+35.2%	+6.3%	+82.8%	+78.0%	−47.7 pts	−71.7 pts

ELIL and LLYX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

ELIL

Direxion Daily LLY Bull 2X ETF · Aims to return twice the daily move of Eli Lilly and (LLY)

LLYX

Defiance Daily Target 2X Long LLY ETF · Aims to return twice the daily move of Eli Lilly and (LLY)

Issuer Direxion Defiance

Sets out to return +2x +2x

Underlying asset LLY LLY

Segment company company

Fund returned, 3 months or since launch −9.3% −10.3%

Underlying returned, over that window −2.8% −2.8%

What the stated multiple implies, over that window −5.5% −5.5%

Difference from stated, over that window −3.8 pts −4.8 pts

Fund returned, 1 year or since launch +88.8% +81.4%

Difference from stated, over that window −16.4 pts −23.8 pts

Underlying volatility 30% 30%

Difference over the days both have traded −3.8 pts −4.8 pts

Expense ratio 1.07% 1.49%

Launched Mar 26, 2025 Aug 8, 2024

Net assets $17m $89m

ELIL and LLYX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

ELIL in plain words

Three months to Sep 30, 2026: ELIL returned −9.3% where its own daily promise gave −7.5%, 1.8 points short. Read the multiple against the whole window instead and 2 times LLY's −2.8% implies −5.5%, which makes ELIL look 3.8 points short. 2.0 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. ELIL aims to return +2 times LLY'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. LLY moved at 30% 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.

LLYX in plain words

Three months to Sep 30, 2026: LLYX returned −10.3% where its own daily promise gave −7.5%, 2.8 points short. Read the multiple against the whole window instead and 2 times LLY's −2.8% implies −5.5%, which makes LLYX look 4.8 points short. LLYX aims to return +2 times LLY's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, ELIL or LLYX?: Over the window to Sep 30, 2026, ELIL finished 3.8 points from what its multiple implies and LLYX finished 4.8 points from its own, so ELIL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are ELIL and LLYX levered on the same thing?: Yes. Both are levered on Eli Lilly and, ELIL at +2 times and LLYX at +2 times the daily move.
Which one decays faster, ELIL or LLYX?: Decay follows how much the underlying moves about. Over this window ELIL’s moved at 30% annualized and LLYX’s at 30%, so ELIL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold ELIL or LLYX 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, ELIL or LLYX?: ELIL charges 1.07% a year and LLYX charges 1.49%, so ELIL is cheaper. Fees come from each fund's prospectus.

Other comparisons

ELIL on its own →LLYX on its own →How every figure is computed →Standards and sources →

Where these figures came from

ELIL filings on SEC EDGAR ↗ELIL prospectus with the expense ratio (SEC) ↗Direxion website ↗LLYX filings on SEC EDGAR ↗LLYX prospectus with the expense ratio (SEC) ↗Defiance page for LLYX ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, ELIL against LLYX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/elil-vs-llyx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.