{
 "ticker": "NFXL",
 "name": "Direxion Daily NFLX Bull 2X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/NFXL",
 "html": "https://etfiq.com/funds/NFXL",
 "markdown": "https://etfiq.com/funds/NFXL.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: NFXL returned \u221212.8% where its own daily promise gave \u221210.4%, 2.3 points short.",
 "key_facts": [
  {
   "key": "what_nflx_did",
   "label": "What NFLX did",
   "value": "\u22123.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NFXL, what NFLX did: \u22123.7%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "\u221210.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NFXL, what +2 times a day gives: \u221210.4%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221212.8%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NFXL, what the fund returned: \u221212.8%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22122.3 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NFXL, the fund itself cost: \u22122.3 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$173m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "NFXL, net assets: $173m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.05%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-11",
   "sentence": "NFXL, expense ratio: 1.05% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of NFLX, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "NFLX moved \u22123.7% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "NFLX",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$173m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.05%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Oct 3, 2024",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "38% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+6.6%",
   "NFLX": "+4.3%",
   "+2x the move": "+8.6%",
   "Difference": "\u22122.0 pts",
   "NFLX moved about": "37%"
  },
  {
   "window": "3 months",
   "Fund": "\u221212.8%",
   "NFLX": "\u22123.7%",
   "+2x the move": "\u22127.3%",
   "Difference": "\u22125.5 pts",
   "NFLX moved about": "38%"
  },
  {
   "window": "6 months",
   "Fund": "\u221241.1%",
   "NFLX": "\u221218.8%",
   "+2x the move": "\u221237.6%",
   "Difference": "\u22123.6 pts",
   "NFLX moved about": "34%"
  },
  {
   "window": "1 year",
   "Fund": "\u221267.4%",
   "NFLX": "\u221235.7%",
   "+2x the move": "\u221271.4%",
   "Difference": "+4.0 pts",
   "NFLX moved about": "36%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221223.1%",
   "NFLX": "+9.5%",
   "+2x the move": "+19.0%",
   "Difference": "\u221242.1 pts",
   "NFLX moved about": "35%"
  }
 ],
 "questions": [
  {
   "q": "Did NFXL return +2 times NFLX?",
   "a": "Over the window to Sep 11, 2026, NFLX moved \u22123.7% and NFXL returned \u221212.8%. 2 times that move is \u22127.3%, so the fund came out 5.5 points short of it."
  },
  {
   "q": "Why does NFXL not return +2 times over a year?",
   "a": "Because it resets daily. NFXL aims at +2 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 +2 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."
  },
  {
   "q": "Which +2x NFLX ETF tracked its stated multiple most closely?",
   "a": "3 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}