# NFXL (Direxion Daily NFLX Bull 2X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: NFXL returned −12.8% where its own daily promise gave −10.4%, 2.3 points short.

## Key facts

- NFXL, what NFLX did: −3.7%, as of Sep 11, 2026.
- NFXL, what +2 times a day gives: −10.4%, as of Sep 11, 2026.
- NFXL, what the fund returned: −12.8%, as of Sep 11, 2026.
- NFXL, the fund itself cost: −2.3 pts, as of Sep 11, 2026.
- NFXL, net assets: $173m (source, as filed for Apr 30, 2026).
- NFXL, expense ratio: 1.05% (485BPOS XBRL, Feb 26, 2026).

## NFXL over each window to Sep 11, 2026

| Window | Fund | NFLX | +2x the move | Difference | NFLX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +6.6% | +4.3% | +8.6% | −2.0 pts | 37% |
| 3 months | −12.8% | −3.7% | −7.3% | −5.5 pts | 38% |
| 6 months | −41.1% | −18.8% | −37.6% | −3.6 pts | 34% |
| 1 year | −67.4% | −35.7% | −71.4% | +4.0 pts | 36% |
| Since launch | −23.1% | +9.5% | +19.0% | −42.1 pts | 35% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of NFLX, reset daily | ETFIQ |
| Multiple a holder actually got over the window | NFLX moved −3.7% over this window, too little to read a multiple from | ETFIQ |
| Underlying | NFLX | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $173m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.05% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Oct 3, 2024 | ETFIQ |
| Underlying volatility over the window | 38% annualized | ETFIQ |

## Questions

### Did NFXL return +2 times NFLX?

Over the window to Sep 11, 2026, NFLX moved −3.7% and NFXL returned −12.8%. 2 times that move is −7.3%, so the fund came out 5.5 points short of it.

### Why does NFXL not return +2 times over a year?

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.

### Which +2x NFLX ETF tracked its stated multiple most closely?

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.


## Cite this page

ETFIQ, NFXL, data as of Sep 11, 2026. https://etfiq.com/funds/NFXL
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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