# PILL (Direxion Daily Pharmaceutical & Medical Bull 3X ETF)

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

Three months to Sep 11, 2026: PILL returned +33.5% where its own daily promise gave +35.6%, 2.1 points short.

## Key facts

- PILL, what XPH did: +12.1%, as of Sep 11, 2026.
- PILL, what +3 times a day gives: +35.6%, as of Sep 11, 2026.
- PILL, what the fund returned: +33.5%, as of Sep 11, 2026.
- PILL, the fund itself cost: −2.1 pts, as of Sep 11, 2026.
- PILL, net assets: $13m (source, as filed for Apr 30, 2026).
- PILL, expense ratio: 0.98% (485BPOS XBRL, Feb 26, 2026).

## PILL over each window to Sep 11, 2026

| Window | Fund | XPH | +3x the move | Difference | XPH moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −10.3% | −3.3% | −9.9% | −0.4 pts | 22% |
| 3 months | +33.5% | +12.1% | +36.4% | −2.8 pts | 23% |
| 6 months | +80.9% | +27.1% | +81.2% | −0.3 pts | 24% |
| 1 year | +127.5% | +42.7% | +128.1% | −0.5 pts | 23% |
| 3 years | +102.5% | +61.5% | +184.6% | −82.1 pts | 21% |
| Since launch | −17.9% | +78.7% | +236.0% | −253.9 pts | 22% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of XPH, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.77 times, against +3 stated | ETFIQ |
| Underlying | XPH | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $13m | source, as filed for Apr 30, 2026 |
| Expense ratio | 0.98% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Nov 15, 2017 | ETFIQ |
| Underlying volatility over the window | 23% annualized | ETFIQ |

## Questions

### Did PILL return +3 times XPH?

Over the window to Sep 11, 2026, XPH moved +12.1% and PILL returned +33.5%. 3 times that move is +36.4%, so the fund came out 2.8 points short of it.

### Why does PILL not return +3 times over a year?

Because it resets daily. PILL 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.


## Cite this page

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

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