{
 "ticker": "RETL",
 "name": "Direxion Daily Retail Bull 3X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/RETL",
 "html": "https://etfiq.com/funds/RETL",
 "markdown": "https://etfiq.com/funds/RETL.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: RETL returned \u221213.7% where its own daily promise gave \u221211.9%, 1.7 points short.",
 "key_facts": [
  {
   "key": "what_xrt_did",
   "label": "What XRT did",
   "value": "\u22123.1%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "RETL, what XRT did: \u22123.1%, as of Sep 11, 2026."
  },
  {
   "key": "what_3_times_a_day_gives",
   "label": "What +3 times a day gives",
   "value": "\u221211.9%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "RETL, what +3 times a day gives: \u221211.9%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221213.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "RETL, what the fund returned: \u221213.7%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.7 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "RETL, the fund itself cost: \u22121.7 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$31m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "RETL, net assets: $31m (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": "RETL, 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 XRT, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "XRT moved \u22123.1% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "XRT",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, sector",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$31m",
   "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": "Jul 14, 2010",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "21% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221214.5%",
   "XRT": "\u22124.5%",
   "+3x the move": "\u221213.5%",
   "Difference": "\u22121.0 pts",
   "XRT moved about": "20%"
  },
  {
   "window": "3 months",
   "Fund": "\u221213.7%",
   "XRT": "\u22123.1%",
   "+3x the move": "\u22129.4%",
   "Difference": "\u22124.2 pts",
   "XRT moved about": "21%"
  },
  {
   "window": "6 months",
   "Fund": "+8.0%",
   "XRT": "+6.5%",
   "+3x the move": "+19.4%",
   "Difference": "\u221211.4 pts",
   "XRT moved about": "21%"
  },
  {
   "window": "1 year",
   "Fund": "\u221227.1%",
   "XRT": "\u22123.0%",
   "+3x the move": "\u22129.2%",
   "Difference": "\u221218.0 pts",
   "XRT moved about": "21%"
  },
  {
   "window": "3 years",
   "Fund": "+31.1%",
   "XRT": "+42.0%",
   "+3x the move": "+126.0%",
   "Difference": "\u221294.9 pts",
   "XRT moved about": "23%"
  },
  {
   "window": "Since launch",
   "Fund": "+652.1%",
   "XRT": "+462.7%",
   "+3x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "XRT moved about": "25%"
  }
 ],
 "questions": [
  {
   "q": "Did RETL return +3 times XRT?",
   "a": "Over the window to Sep 11, 2026, XRT moved \u22123.1% and RETL returned \u221213.7%. 3 times that move is \u22129.4%, so the fund came out 4.2 points short of it."
  },
  {
   "q": "Why does RETL not return +3 times over a year?",
   "a": "Because it resets daily. RETL 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)."
}