{"url":"https://etfiq.com/compare/leverage/nfxl-vs-nfxs","section":"compare","title":"NFXL vs NFXS: which held to its multiple? | ETFIQ","description":"NFXL sets out to return +2 times NFLX each day and NFXS -1 times. Over the three months to Sep 30, 2026 they finished \u22124.7 pts and \u22121.5 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, NFXL or NFXS?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, NFXL finished 4.7 points from what its multiple implies and NFXS finished 1.5 points from its own, so NFXS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are NFXL and NFXS levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Netflix, NFXL at +2 times and NFXS at -1 times the daily move."}},{"@type":"Question","name":"Which one decays faster, NFXL or NFXS?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window NFXL\u2019s moved at 36% annualized and NFXS\u2019s at 36%, so NFXL has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold NFXL or NFXS for a year?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, NFXL or NFXS?","acceptedAnswer":{"@type":"Answer","text":"NFXL charges 1.05% a year and NFXS charges 1.03%, so NFXS is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"NFXL vs NFXS","item":"https://etfiq.com/compare/leverage/nfxl-vs-nfxs"}]},{"@type":"WebPage","name":"NFXL vs NFXS: which held to its multiple?","description":"NFXL sets out to return +2 times NFLX each day and NFXS -1 times. Over the three months to Sep 30, 2026 they finished \u22124.7 pts and \u22121.5 pts away.","url":"https://etfiq.com/compare/leverage/nfxl-vs-nfxs","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, NFXL finished 2.2 points short and NFXS 1.5 points over.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of NFXL and NFXS","description":"NFXL sets out to return +2 times NFLX each day and NFXS -1 times. Over the three months to Sep 30, 2026 they finished \u22124.7 pts and \u22121.5 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/nfxl-vs-nfxs","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6967,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / NFXL vs NFXS \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n NFXL vs NFXS: which held to its multiple?\n\n Over three months against its own daily promise, NFXL finished 2.2 points short and NFXS 1.5 points over.\n Copy this for sharing \n \n Direxion Daily NFLX Bull 2X ETF and Direxion Daily NFLX Bear 1X ETF.\n\n Download as PDF \n\n \u221217.1% NFXL returned, 3 months \n +4.7% NFXS returned, 3 months \n \u22124.7 pts NFXL from its stated multiple \n \u22121.5 pts NFXS from its stated multiple \n\n ETFIQ Decay Resistance Score: NFXL scores higher\n Did it kee","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/nfxl-vs-nfxs","a":{"ticker":"NFXL","name":"Direxion Daily NFLX Bull 2X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: NFXL returned \u221217.1% where its own daily promise gave \u221214.9%, 2.2 points short.","url":"https://etfiq.com/funds/nfxl","key_facts":[{"label":"What NFLX did","value":"\u22126.2%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221214.9%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221217.1%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.2 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$131m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.05%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"b":{"ticker":"NFXS","name":"Direxion Daily NFLX Bear 1X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: NFXS returned +4.7% where its own daily promise gave +3.3%, 1.5 points over.","url":"https://etfiq.com/funds/nfxs","key_facts":[{"label":"What NFLX did","value":"\u22126.2%","as_of":"2026-09-30","source":null},{"label":"What \u22121 times a day gives","value":"+3.3%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+4.7%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.5 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$4m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.03%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/nfxl-vs-nfxs"}