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Launched · SEC filings

Direxion Daily Energy Bull 2X ETF

ERXNYSE ArcaDirexionBThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$99.53−6.05 (−5.73%)

At close: Nov 5, 2026, 4:00 PM ET

B64/ 100

Rank 1 of 6 in 2x/3x Long Energy

B64/100Rank 1 of 6in2x/3x Long Energy
Intraday session: down, 79 prints from 105.58 to 99.53. Range 99.53 to 108.65. Use the arrow keys to read each point.102.00104.00108.0010 AM12 PM2 PM4 PM
Expense ratio
0.91%
Fund size
$228M
1Y total return
+89.1%
Yield · Last 12 months
1.40%
Holdings
29
Avg volume · 30D
304K sh
52W range
low $53.08high $129.31
Launched
Filings
SEC EDGAR

The ETF.net ERX Grade

Based on 4 of 6 pillars

B

Score 64 out of 100

Category
2x/3x Long Energy⁠
Rank
1 of 6
Six-pillar profile for ERX. Scores out of 100: Cost 74, Risk 72, Mission not scored, Tradability 43, Holdings not scored, Durability 53. Strongest: Cost (74). Weakest: Tradability (43). Based on 4 of 6 pillars.

Score 64 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A74 out of 100
    Rank 2 of 6

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A72 out of 100
    Rank 1 of 6

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C43 out of 100
    Rank 5 of 6

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C53 out of 100
    Rank 3 of 6

Our read on ERX

ETF.net Research

In short

BThe 2008 original of the leveraged energy trade: 2x the daily move of the Energy Select Sector Index, built from oil-major stocks rather than crude futures. Sector-wide exposure, dialed up, for holding periods measured in days.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of the Energy Select Sector Index for a single day. It is not designed to deliver twice the index’s cumulative return over periods longer than one day.

Why people hold it

  • At 0.91% it undercuts every rival in its leveraged energy group, including GUSH (0.94%), UCO and BOIL (0.95%) and DIG (1.07%).
  • Rides a stock index of roughly 30 US energy companies, so there is no crude futures roll to fight, unlike the commodity-based versions of the same trade.direxion.com
  • Live since November 2008, it has traded through multiple oil booms and busts. Few leveraged sector funds have that much tape behind them.
  • One of the stronger implementations in the leveraged energy peer group, with low cost doing much of the heavy lifting.

Worth knowing

  • The 2x target resets every day. Hold longer and compounding takes over, so a week or a month can land well away from twice the index move.
  • One sector, one country, about 30 stocks, then doubled. The concentration is the point and the risk in the same breath.
  • Moderately traded rather than one of the busiest leveraged funds on the tape, so spreads and order size carry more weight at the point of entry.

ERX Performance

Launched Nov 6, 2008

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

ERX$18,906
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,934
Nov 5, 2025 to Nov 5, 2026. ERX $18,906. SPY $10,934. Use the arrow keys to read each point.$10,000$15,000$20,000$25,000Nov 2025May 2026Nov 2026

Nov 5, 2025 – Nov 5, 2026

Returns run to the Nov 5, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for ERX. Periods over one year show the average yearly return.
PeriodERX
Year to date+80.3%
1 month−6.7%
3 months+13.6%
1 year+89.1%
3 yearsper year+20.6%
5 yearsper year+28.4%
10 yearsper year−8.3%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for ERX
YearReturn barERX
2026 YTD+80.3%
2025+2.8%
2024+1.1%
2023−12.3%
2022+130.7%
2021+111.8%
2020−91.6%

ERX in the news

ERX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 5, 2026.
1.40%Last 12 months
Payout per share
$1.39Last 12 months
Last payment
$0.37 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 35 payments from 2017 to 2026 YTD. Mar 21, 2017 $0.20; Jun 20, 2017 $0.64; Dec 19, 2017 $2.14; Jun 19, 2018 $2.74; Sep 25, 2018 $1.14; Dec 27, 2018 $0.82; Mar 19, 2019 $1.28; Sep 24, 2019 $0.71; Dec 23, 2019 $0.74; Jun 23, 2020 $0.16; Sep 22, 2020 $0.10; Dec 22, 2020 $0.07; Mar 23, 2021 $0.12; Jun 22, 2021 $0.16; Sep 21, 2021 $0.17; Dec 21, 2021 $0.19; Mar 22, 2022 $0.36; Jun 22, 2022 $0.38; Sep 20, 2022 $0.42; Dec 20, 2022 $0.33; Mar 21, 2023 $0.50; Jun 21, 2023 $0.47; Sep 19, 2023 $0.45; Dec 21, 2023 $0.37; Mar 19, 2024 $0.51; Jun 25, 2024 $0.41; Sep 24, 2024 $0.39; Dec 23, 2024 $0.32; Mar 25, 2025 $0.45; Jun 24, 2025 $0.32; Sep 23, 2025 $0.38; Dec 23, 2025 $0.27; Mar 24, 2026 $0.52; Jun 23, 2026 $0.24; Sep 22, 2026 $0.37. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.37
Jun 23, 2026Jun 30, 2026$0.24
Mar 24, 2026Mar 31, 2026$0.52
Dec 23, 2025Dec 31, 2025$0.27
Sep 23, 2025Sep 30, 2025$0.38
Jun 24, 2025Jul 1, 2025$0.32
Mar 25, 2025Apr 1, 2025$0.45
Dec 23, 2024Dec 31, 2024$0.32
Sep 24, 2024Oct 1, 2024$0.39
Jun 25, 2024Jul 2, 2024$0.41
Mar 19, 2024Mar 26, 2024$0.51
Dec 21, 2023Dec 29, 2023$0.37

See all 42 payments⁠

$10,000 in ERX 10 years ago paid $599 in dividends.⁠

ERX Risk

Risk pillarA72 out of 100Rank 1 of 6 in 2x/3x Long Energy

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
43.5%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.77
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−46.9%
Trough Jul 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−0.03
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

ERX Cost

Compare ERX and XLEX

Overpaying vs XLEX, cheapest in 2x/3x Long Energy

$8,166

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ERX 0.91%

    $17,207

  • XLEX 0.45% Cheapest

    $9,041

$10,000
30 years

Cost over time

  • ERX 0.91%
  • XLEX 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530ERX $17,207XLEX $9,041

Year by year

YearERXXLEXOverpaying
10$1,610$812$798
20$6,076$3,128$2,948
30$17,207$9,041$8,166

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