# NFXS (Direxion Daily NFLX Bear 1X ETF)

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

Three months to Sep 30, 2026: NFXS returned +4.7% where its own daily promise gave +3.3%, 1.5 points over.

## Key facts

- NFXS, what NFLX did: −6.2%, as of Sep 30, 2026.
- NFXS, what −1 times a day gives: +3.3%, as of Sep 30, 2026.
- NFXS, what the fund returned: +4.7%, as of Sep 30, 2026.
- NFXS, the fund itself added: +1.5 pts, as of Sep 30, 2026.
- NFXS, net assets: $4m (issuer page, as of Sep 30, 2026).
- NFXS, expense ratio: 1.03% (485BPOS XBRL, Feb 26, 2026).

## NFXS over each window to Sep 30, 2026

| Window | Fund | NFLX | -1x the move | Difference | NFLX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +15.8% | −14.2% | +14.2% | +1.6 pts | 35% |
| 3 months | +4.7% | −6.2% | +6.2% | −1.5 pts | 36% |
| 6 months | +33.1% | −27.2% | +27.2% | +5.9 pts | 35% |
| 1 year | +60.7% | −42.0% | +42.0% | +18.7 pts | 36% |
| Since launch | −8.1% | −1.6% | +1.6% | −9.7 pts | 35% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of NFLX, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -0.76 times, against -1 stated | ETFIQ |
| Underlying | NFLX | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $4m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.03% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Oct 3, 2024 | ETFIQ |
| Underlying volatility over the window | 36% annualized | ETFIQ |

## Questions

### Did NFXS return -1 times NFLX?

Over the window to Sep 30, 2026, NFLX moved −6.2% and NFXS returned +4.7%. −1 times that move is +6.2%, so the fund came out 1.5 points short of it.

### Why does NFXS not return -1 times over a year?

Because it resets daily. NFXS aims at -1 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 -1 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, NFXS, data as of Sep 30, 2026. https://etfiq.com/funds/nfxs
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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