{
 "ticker": "NAIL",
 "name": "Direxion Daily Homebuilders & Supplies Bull 3X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/NAIL",
 "html": "https://etfiq.com/funds/NAIL",
 "markdown": "https://etfiq.com/funds/NAIL.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: NAIL returned \u221229.1% where its own daily promise gave \u221227.6%, 1.6 points short.",
 "key_facts": [
  {
   "key": "what_xhb_did",
   "label": "What XHB did",
   "value": "\u22128.3%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NAIL, what XHB did: \u22128.3%, as of Sep 11, 2026."
  },
  {
   "key": "what_3_times_a_day_gives",
   "label": "What +3 times a day gives",
   "value": "\u221227.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NAIL, what +3 times a day gives: \u221227.6%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221229.1%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NAIL, what the fund returned: \u221229.1%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.6 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NAIL, the fund itself cost: \u22121.6 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$563m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "NAIL, net assets: $563m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.96%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-11",
   "sentence": "NAIL, expense ratio: 0.96% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+3 times the daily move of XHB, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+3.49 times, against +3 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "XHB",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, sector",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$563m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.96%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Aug 19, 2015",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "29% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221226.1%",
   "XHB": "\u22129.1%",
   "+3x the move": "\u221227.4%",
   "Difference": "+1.3 pts",
   "XHB moved about": "22%"
  },
  {
   "window": "3 months",
   "Fund": "\u221229.1%",
   "XHB": "\u22128.3%",
   "+3x the move": "\u221225.1%",
   "Difference": "\u22124.1 pts",
   "XHB moved about": "29%"
  },
  {
   "window": "6 months",
   "Fund": "\u221226.9%",
   "XHB": "\u22121.8%",
   "+3x the move": "\u22125.3%",
   "Difference": "\u221221.6 pts",
   "XHB moved about": "31%"
  },
  {
   "window": "1 year",
   "Fund": "\u221267.1%",
   "XHB": "\u221216.6%",
   "+3x the move": "\u221249.8%",
   "Difference": "\u221217.4 pts",
   "XHB moved about": "28%"
  },
  {
   "window": "3 years",
   "Fund": "\u221253.3%",
   "XHB": "+24.7%",
   "+3x the move": "+74.0%",
   "Difference": "\u2212127.3 pts",
   "XHB moved about": "27%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221220.1%",
   "XHB": "+176.0%",
   "+3x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "XHB moved about": "27%"
  }
 ],
 "questions": [
  {
   "q": "Did NAIL return +3 times XHB?",
   "a": "Over the window to Sep 11, 2026, XHB moved \u22128.3% and NAIL returned \u221229.1%. 3 times that move is \u221225.1%, so the fund came out 4.1 points short of it."
  },
  {
   "q": "Why does NAIL not return +3 times over a year?",
   "a": "Because it resets daily. NAIL 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)."
}