# EURL (Direxion Daily FTSE Europe Bull 3X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: EURL returned −6.3% where its own daily promise gave −3.6%, 2.6 points short.

## Key facts

- EURL, what VGK did: −0.9%, as of Sep 30, 2026.
- EURL, what 3 times a day gives: −3.6%, as of Sep 30, 2026.
- EURL, what the fund returned: −6.3%, as of Sep 30, 2026.
- EURL, the fund itself cost: −2.6 pts, as of Sep 30, 2026.
- EURL, net assets: $40m (issuer page, as of Sep 30, 2026).
- EURL, expense ratio: 1.04% (485BPOS XBRL, Feb 26, 2026).

## EURL over each window to Sep 30, 2026

| Window | Fund | VGK | +3x the move | Difference | VGK moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −16.1% | −5.1% | −15.2% | −0.9 pts | 12% |
| 3 months | −6.3% | −0.9% | −2.6% | −3.7 pts | 12% |
| 6 months | +7.2% | +5.5% | +16.4% | −9.3 pts | 16% |
| 1 year | +17.5% | +12.1% | +36.3% | −18.8 pts | 16% |
| 3 years | +152.9% | +64.5% | +193.5% | −40.6 pts | 16% |
| Since launch | +23.9% | +122.5% | not meaningful over this window | not meaningful over this window | 18% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of VGK, reset daily | ETFIQ |
| Multiple a holder actually got over the window | VGK moved −0.9% over this window, too little to read a multiple from | ETFIQ |
| Underlying | VGK | ETFIQ |
| Segment | sector or country, country | ETFIQ |
| Net assets | $40m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.04% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jan 22, 2014 | ETFIQ |
| Underlying volatility over the window | 12% annualized | ETFIQ |

## Questions

### Did EURL return +3 times VGK?

Over the window to Sep 30, 2026, VGK moved −0.9% and EURL returned −6.3%. 3 times that move is −2.6%, so the fund came out 3.7 points short of it.

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

Because it resets daily. EURL 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, EURL, data as of Sep 30, 2026. https://etfiq.com/funds/eurl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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