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Launched

Direxion Daily NFLX Bull 2X Shares

NFXLNasdaqDirexionCThis 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.

$10.89+0.11 (+1.02%)

At close: Nov 2, 2026, 4:00 PM ET

C50/ 100

Rank 85 of 380 in Single-Stock Long Leveraged

C50/100Rank 85 of 380inSingle-Stock Long Leveraged
Intraday session: up, 79 prints from 10.78 to 10.89. Range 10.68 to 11.04. Use the arrow keys to read each point.10.7011.0010 AM12 PM2 PM4 PM
Expense ratio
1.05%*
Fund size
$113M
1Y total return
−75.7%
Yield · Last 12 months
17.84%
Holdings
10
Avg volume · 30D
1.51M sh
52W range
low $10.57high $51.38
Launched

*After a fee waiver that ends Sep 1, 2027. Without it: 1.06%.

The ETF.net NFXL Grade

Based on 5 of 6 pillars

C

Score 50 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
85 of 380
Six-pillar profile for NFXL. Scores out of 100: Cost 42, Risk 45, Mission 99, Tradability 63, Holdings not scored, Durability 83. Strongest: Mission (99). Weakest: Cost (42). Based on 5 of 6 pillars.

Score 50 of 100 falls in the C 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.
    C42 out of 100
    Rank 215 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A99 out of 100
    Rank 4 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C45 out of 100
    Rank 203 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B63 out of 100
    Rank 115 of 380

  • 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.
    A83 out of 100
    Rank 9 of 380

Our read on NFXL

ETF.net Research

In short

CNetflix at double speed in a single ticker. NFXL aims for 200% of NFLX's move each trading day, resets that target every day, and comes with a bear twin for traders who want the other side.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of Netflix common shares.

Why people hold it

  • One job, plainly stated: 200% of Netflix's daily move, built mostly from swaps with large global banks, and it has stayed close to that daily target.sec.gov
  • Among hundreds of geared single-stock bull funds, it sits in the upper tier for how cleanly it delivers the objective written in its own prospectus.
  • No margin account, no options chain. The gearing lives inside a registered fund that manages its own daily exposure, and the shares trade like any other stock.sec.gov
  • Live since 2024 and actively traded, with a Direxion bear counterpart (NFXS) launched beside it, so both directions on Netflix exist in the same format.direxion.com

Worth knowing

  • Priced above the category median: 1.05% net, 1.06% gross, net of a waiver through September 1, 2027, versus 0.75% at peer OKTG and 0.76% at TSMG.
  • The 2x target applies to one day only. Hold longer and daily compounding takes over, so the path can diverge from twice Netflix's return, especially in choppy stretches.sec.gov
  • One stock, one story. An earnings night or a content headline at Netflix lands here at double size, in either direction, with no diversification to soften it.sec.gov

NFXL Holdings

Asset class
Stocks
Holdings
10
Top-10 weight
100%
Largest holding
Nflx Swap Asset Leg (Nflxgsl)27.4%

Sectors

  • Communication100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataNflx Swap Asset Leg (Nflxgsl)27.45%1,594,250$98.9M1
2No dataDreyfus Trsry Securities Cash Mgmt16.22%58,472,173$58.5M77
3No dataNflx Swap Asset Leg (Nflxbcl)13.99%812,508$50.4M1
4No dataNflx Swap Asset Leg (Nflxmll)11.96%694,537$43.1M1
5No dataGoldman Sachs Fin Gov 465 Institut8.50%30,620,000$30.6M69
6No dataDreyfus Govt Cash Man Ins7.59%27,337,846$27.3M105
7No dataGoldman Finl Sq Trsry Inst 5064.96%17,869,021$17.9M95
8NFLXNetflix Inc4.53%263,373$16.3M483
9No dataNflx Swap Asset Leg (Nflxnml)3.11%180,514$11.2M1
10No dataNflx Swap Asset Leg (Nflxctl)1.69%98,419$6.11M1

Showing 1–10 of 10 holdings

NFXL Performance

Launched Oct 3, 2024

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

Not enough history yet.Not enough history yet.Not enough history yet.
NFXL$2,432
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. NFXL $2,432. SPY $11,199. Use the arrow keys to read each point.$2,500$5,000$7,500$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 NFXL. Periods over one year show the average yearly return.
PeriodNFXL
Year to date−64.1%
1 month−22.1%
3 months−29.2%
1 year−75.7%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 NFXL
YearReturn barNFXL
2026 YTD−64.1%
2025−11.7%
2024+51.0%

Since listing, Oct 3, 2024

NFXL in the news

NFXL 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 Oct 30, 2026.
17.84%Last 12 months
Payout per share
$1.92Last 12 months
Last payment
$0.12 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 10 payments from 2024 to 2026 YTD. Dec 12, 2024 $0.06; Dec 23, 2024 $0.16; Mar 25, 2025 $0.20; Jun 24, 2025 $0.35; Sep 23, 2025 $0.36; Dec 10, 2025 $1.36; Dec 23, 2025 $0.17; Mar 24, 2026 $0.19; Jun 23, 2026 $0.08; Sep 22, 2026 $0.12. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.12
Jun 23, 2026Jun 30, 2026$0.08
Mar 24, 2026Mar 31, 2026$0.19
Dec 23, 2025Dec 31, 2025$0.17
Dec 10, 2025Dec 17, 2025$1.36
Sep 23, 2025Sep 30, 2025$0.36
Jun 24, 2025Jul 1, 2025$0.35
Mar 25, 2025Apr 1, 2025$0.20
Dec 23, 2024Dec 31, 2024$0.16
Dec 12, 2024Dec 19, 2024$0.06

$10,000 in NFXL 1 year ago paid $405 in dividends.

NFXL Risk

Risk pillarC45 out of 100Rank 203 of 368 in Single-Stock Long Leveraged

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.
73.8%
Annualised · 24 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.
−0.28
vs 3-month T-bills · 24 months 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.
−84.2%
24 months · trough Oct 2026
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.
0.79
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.

NFXL Cost

Compare NFXL and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$15,340

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

  • NFXL 1.05%

    $19,495

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • NFXL 1.05%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530NFXL $19,495GOGL $4,155

Year by year

YearNFXLGOGLOverpaying
10$1,847$365$1,482
20$6,927$1,421$5,506
30$19,495$4,155$15,340
How the 1.05% is worked out

Full fee 1.06%− waiver 0.01%= you pay 1.05%

The waiver ends Sep 1, 2027. After that the fee is 1.06% unless Direxion renews it. Source: prospectus, Mar 2026.

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