{
 "ticker": "PILL",
 "name": "Direxion Daily Pharmaceutical & Medical Bull 3X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/pill",
 "html": "https://etfiq.com/funds/pill",
 "markdown": "https://etfiq.com/funds/pill.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: PILL returned \u221219.5% where its own daily promise gave \u221218.2%, 1.2 points short.",
 "key_facts": [
  {
   "key": "what_xph_did",
   "label": "What XPH did",
   "value": "\u22125.2%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "PILL, what XPH did: \u22125.2%, as of Oct 2, 2026."
  },
  {
   "key": "what_3_times_a_day_gives",
   "label": "What 3 times a day gives",
   "value": "\u221218.2%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "PILL, what 3 times a day gives: \u221218.2%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221219.5%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "PILL, what the fund returned: \u221219.5%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.3 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "PILL, the fund itself cost: \u22121.3 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$16m",
   "source": "issuer page, as of Oct 1, 2026",
   "as_of": "2026-10-02",
   "sentence": "PILL, net assets: $16m (issuer page, as of Oct 1, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.98%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-10-02",
   "sentence": "PILL, expense ratio: 0.98% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+3 times the daily move of XPH, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+3.76 times, against +3 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "XPH",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, sector",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$16m",
   "source": "issuer page, as of Oct 1, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.98%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Nov 15, 2017",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "23% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221230.6%",
   "XPH": "\u221210.9%",
   "+3x the move": "\u221232.7%",
   "Difference": "+2.1 pts",
   "XPH moved about": "21%"
  },
  {
   "window": "3 months",
   "Fund": "\u221219.5%",
   "XPH": "\u22125.2%",
   "+3x the move": "\u221215.5%",
   "Difference": "\u22123.9 pts",
   "XPH moved about": "23%"
  },
  {
   "window": "6 months",
   "Fund": "+40.3%",
   "XPH": "+16.5%",
   "+3x the move": "+49.4%",
   "Difference": "\u22129.2 pts",
   "XPH moved about": "23%"
  },
  {
   "window": "1 year",
   "Fund": "+80.5%",
   "XPH": "+32.5%",
   "+3x the move": "+97.4%",
   "Difference": "\u221216.9 pts",
   "XPH moved about": "23%"
  },
  {
   "window": "3 years",
   "Fund": "+135.0%",
   "XPH": "+70.4%",
   "+3x the move": "+211.2%",
   "Difference": "\u221276.2 pts",
   "XPH moved about": "21%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221232.5%",
   "XPH": "+68.5%",
   "+3x the move": "+205.6%",
   "Difference": "\u2212238.1 pts",
   "XPH moved about": "22%"
  }
 ],
 "questions": [
  {
   "q": "Did PILL return +3 times XPH?",
   "a": "Over the window to Oct 2, 2026, XPH moved \u22125.2% and PILL returned \u221219.5%. 3 times that move is \u221215.5%, so the fund came out 3.9 points short of it."
  },
  {
   "q": "Why does PILL not return +3 times over a year?",
   "a": "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."
  }
 ],
 "generated": "2026-10-03",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}