Which came closer to its stated multiple, INDL or TAJX?

Over the window to Sep 30, 2026, INDL finished 1.2 points from what its multiple implies and TAJX finished 2.6 points from its own, so INDL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are INDL and TAJX levered on the same thing?

Yes. Both are levered on iShares MSCI India ETF, INDL at +2 times and TAJX at +2 times the daily move.

Which one decays faster, INDL or TAJX?

Decay follows how much the underlying moves about. Over this window INDL’s moved at 13% annualized and TAJX’s at 13%, so INDL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold INDL or TAJX 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, INDL or TAJX?

INDL charges 1.23% a year and TAJX charges 0.45%, so TAJX is cheaper. Fees come from each fund's prospectus.

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INDL vs TAJX: which held to its multiple?

Over the days both have traded, INDL finished 1.2 points from its stated multiple and TAJX 2.6. Direxion Daily MSCI India Bull 2X ETF and Corgi India 2x Daily ETF.

−11.5%

INDL returned, 3 months

−12.9%

TAJX returned, 3 months

−1.2 pts

INDL from its stated multiple

−2.6 pts

TAJX from its stated multiple

INDL · 3 months to Sep 30, 20261.2 pts short of its stated multiple

INDL returned −11.5% while 2 times INDA's move would have been −10.3%

TAJX · 3 months to Sep 30, 20262.6 pts short of its stated multiple

TAJX returned −12.9% while 2 times INDA's move would have been −10.3%

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

INDL 94.4

TAJX 54.3

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	INDL	TAJX	INDL	TAJX	INDL	TAJX
1 month	−12.4%	−12.8%	−12.2%	−12.2%	−0.3 pts	−0.6 pts
3 months	−11.5%	−12.9%	−10.3%	−10.3%	−1.2 pts	−2.6 pts
6 months	−4.3%	not published	−0.1%	not published	−4.2 pts	not published
1 year	−26.0%	not published	−20.7%	not published	−5.4 pts	not published
3 years	−13.2%	not published	+12.7%	not published	−25.8 pts	not published
Since launch INDL Feb 2012 · TAJX Jun 2026	−65.2%	−7.0%	not meaningful	−2.9%	not meaningful	−4.2 pts

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

On the same fields

INDL

Direxion Daily MSCI India Bull 2X ETF · Aims to return twice the daily move of iShares MSCI India ETF (INDA)

TAJX

Corgi India 2x Daily ETF · Aims to return twice the daily move of iShares MSCI India ETF (INDA)

Issuer Direxion Corgi

Sets out to return +2x +2x

Underlying asset INDA INDA

Segment country country

Fund returned, 3 months or since launch −11.5% −12.9%

Underlying returned, over that window −5.1% −5.1%

What the stated multiple implies, over that window −10.3% −10.3%

Difference from stated, over that window −1.2 pts −2.6 pts

Fund returned, 1 year or since launch −26.0% −7.0%

Difference from stated, over that window −5.4 pts −4.2 pts

Underlying volatility 13% 13%

Difference over the days both have traded −1.2 pts −2.6 pts

Expense ratio 1.23% 0.45%

Launched Mar 11, 2010 Jun 3, 2026

Net assets $49m $338,623

INDL and TAJX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

INDL in plain words

Three months to Sep 30, 2026: INDL returned −11.5% where its own daily promise gave −10.4%, 1.1 points short. Read the multiple against the whole window instead and 2 times INDA's −5.1% implies −10.3%, which makes INDL look 1.2 points short. 0.1 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. INDL aims to return +2 times INDA'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. INDA moved at 13% 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.

TAJX in plain words

Three months to Sep 30, 2026: TAJX returned −12.9% where its own daily promise gave −10.4%, 2.5 points short. Read the multiple against the whole window instead and 2 times INDA's −5.1% implies −10.3%, which makes TAJX look 2.6 points short. TAJX aims to return +2 times INDA's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, INDL or TAJX?: Over the window to Sep 30, 2026, INDL finished 1.2 points from what its multiple implies and TAJX finished 2.6 points from its own, so INDL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are INDL and TAJX levered on the same thing?: Yes. Both are levered on iShares MSCI India ETF, INDL at +2 times and TAJX at +2 times the daily move.
Which one decays faster, INDL or TAJX?: Decay follows how much the underlying moves about. Over this window INDL’s moved at 13% annualized and TAJX’s at 13%, so INDL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold INDL or TAJX 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, INDL or TAJX?: INDL charges 1.23% a year and TAJX charges 0.45%, so TAJX is cheaper. Fees come from each fund's prospectus.

Other comparisons

INDA →INDL on its own →TAJX on its own →How every figure is computed →Standards and sources →

Where these figures came from

INDL filings on SEC EDGAR ↗INDL prospectus with the expense ratio (SEC) ↗Direxion website ↗TAJX filings on SEC EDGAR ↗TAJX prospectus with the expense ratio (SEC) ↗Corgi website ↗

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, INDL against TAJX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/indl-vs-tajx

Open data

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