# NFXL (Direxion Daily NFLX Bull 2X ETF)

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

Three months to Sep 30, 2026: NFXL returned −17.1% where its own daily promise gave −14.9%, 2.2 points short.

## Key facts

- NFXL, what NFLX did: −6.2%, as of Sep 30, 2026.
- NFXL, what 2 times a day gives: −14.9%, as of Sep 30, 2026.
- NFXL, what the fund returned: −17.1%, as of Sep 30, 2026.
- NFXL, the fund itself cost: −2.2 pts, as of Sep 30, 2026.
- NFXL, net assets: $131m (issuer page, as of Sep 30, 2026).
- NFXL, expense ratio: 1.05% (485BPOS XBRL, Feb 26, 2026).

## NFXL over each window to Sep 30, 2026

| Window | Fund | NFLX | +2x the move | Difference | NFLX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −27.8% | −14.2% | −28.3% | +0.5 pts | 35% |
| 3 months | −17.1% | −6.2% | −12.4% | −4.7 pts | 36% |
| 6 months | −52.8% | −27.2% | −54.4% | +1.5 pts | 35% |
| 1 year | −73.5% | −42.0% | −83.9% | +10.4 pts | 36% |
| Since launch | −38.6% | −1.6% | −3.1% | −35.5 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 | +2.75 times, against +2 stated | ETFIQ |
| Underlying | NFLX | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $131m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.05% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Oct 3, 2024 | ETFIQ |
| Underlying volatility over the window | 36% annualized | ETFIQ |

## Questions

### Did NFXL return +2 times NFLX?

Over the window to Sep 30, 2026, NFLX moved −6.2% and NFXL returned −17.1%. 2 times that move is −12.4%, so the fund came out 4.7 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 figure itself.


## Cite this page

ETFIQ, NFXL, data as of Sep 30, 2026. https://etfiq.com/funds/nfxl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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