{
 "ticker": "EURL",
 "name": "Direxion Daily FTSE Europe Bull 3X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/EURL",
 "html": "https://etfiq.com/funds/EURL",
 "markdown": "https://etfiq.com/funds/EURL.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: EURL returned +1.7% where its own daily promise gave +4.4%, 2.7 points short.",
 "key_facts": [
  {
   "key": "what_vgk_did",
   "label": "What VGK did",
   "value": "+1.8%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "EURL, what VGK did: +1.8%, as of Sep 11, 2026."
  },
  {
   "key": "what_3_times_a_day_gives",
   "label": "What +3 times a day gives",
   "value": "+4.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "EURL, what +3 times a day gives: +4.4%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+1.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "EURL, what the fund returned: +1.7%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22122.7 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "EURL, the fund itself cost: \u22122.7 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$60m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "EURL, net assets: $60m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.04%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-11",
   "sentence": "EURL, expense ratio: 1.04% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+3 times the daily move of VGK, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "VGK moved +1.8% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "VGK",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, country",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$60m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.04%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 22, 2014",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "12% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u22128.1%",
   "VGK": "\u22122.4%",
   "+3x the move": "\u22127.3%",
   "Difference": "\u22120.8 pts",
   "VGK moved about": "9%"
  },
  {
   "window": "3 months",
   "Fund": "+1.7%",
   "VGK": "+1.8%",
   "+3x the move": "+5.4%",
   "Difference": "\u22123.7 pts",
   "VGK moved about": "12%"
  },
  {
   "window": "6 months",
   "Fund": "+26.0%",
   "VGK": "+11.6%",
   "+3x the move": "+34.8%",
   "Difference": "\u22128.8 pts",
   "VGK moved about": "18%"
  },
  {
   "window": "1 year",
   "Fund": "+32.5%",
   "VGK": "+16.5%",
   "+3x the move": "+49.6%",
   "Difference": "\u221217.1 pts",
   "VGK moved about": "16%"
  },
  {
   "window": "3 years",
   "Fund": "+157.6%",
   "VGK": "+65.5%",
   "+3x the move": "+196.5%",
   "Difference": "\u221238.9 pts",
   "VGK moved about": "16%"
  },
  {
   "window": "Since launch",
   "Fund": "+38.2%",
   "VGK": "+130.1%",
   "+3x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "VGK moved about": "18%"
  }
 ],
 "questions": [
  {
   "q": "Did EURL return +3 times VGK?",
   "a": "Over the window to Sep 11, 2026, VGK moved +1.8% and EURL returned +1.7%. 3 times that move is +5.4%, so the fund came out 3.7 points short of it."
  },
  {
   "q": "Why does EURL not return +3 times over a year?",
   "a": "Because it resets daily. EURL aims at +3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}