Skip to content
etf.net

Launched

Direxion Daily Biotech Top 5 Bull 2X ETF

TBXUNYSE ArcaDirexionDThis 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.

$48.26+1.02 (+2.15%)

As of Nov 2, 2026, 3:32 PM ET

D39/ 100

Rank 70 of 99 in Leveraged Long (2x & Other)

D39/100Rank 70 of 99inLeveraged Long (2x & Other)
Intraday session: up, 67 prints from 47.24 to 48.26. Range 47.24 to 48.26. Use the arrow keys to read each point.47.4047.6047.8048.0010 AM12 PM2 PM4 PM
Expense ratio
0.98%*
Fund size
$3M
1Y total return
+68.1%
Yield · Last 12 months
No data
Holdings
11
Avg volume · 30D
3.73K sh
52W range
low $27.00high $47.92
Launched

*After a fee waiver that ends Sep 1, 2027. Without it: 6.27%.

The ETF.net TBXU Grade

Based on 4 of 6 pillars

D

Score 39 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
70 of 99
Six-pillar profile for TBXU. Scores out of 100: Cost 29, Risk 65, Mission not scored, Tradability 35, Holdings not scored, Durability 44. Strongest: Risk (65). Weakest: Cost (29). Based on 4 of 6 pillars.

Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
40
This cap took
0
Published Score
39 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D29 out of 100
    Rank 68 of 99

  • 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.
    B65 out of 100
    Rank 25 of 98

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D35 out of 100
    Rank 70 of 99

  • 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.
    C44 out of 100
    Rank 59 of 99

Our read on TBXU

ETF.net Research

In short

DLeveraged biotech, boiled down to five names. TBXU targets 200% of the daily move in an equal-weight basket of the largest US-listed biotechs, at 0.98% net of a waiver through September 1, 2027.

Stated mandate

The fund seeks daily results equal to 200% of the NYSE Biotechnology Top 5 Equal Weight Index before fees and expenses.

Why people hold it

  • Not a sprawling biotech index: the benchmark holds the top five US-listed biotech stocks, equal weighted, and the fund targets 200% of its daily move.direxion.com
  • Quarterly housekeeping: the index resets to equal weight and swaps in new names if any of the five slip out of the top five by market cap.direxion.com
  • 0.98% net of a waiver through September 1, 2027 (6.27% gross), near the category median for leveraged bull funds and close to ProShares' ROM at 0.93%.

Worth knowing

  • Daily reset: hold past one day and compounding takes over, so results can drift from 2X the index over that stretch. Direxion says not to expect 2X beyond a day.direxion.com
  • Five stocks, doubled. One failed trial or ugly readout in a single name lands on the whole basket.direxion.com
  • Launched October 2025, still small and thinly traded, which can widen spreads; the 0.98% rests on that waiver through September 1, 2027.

TBXU Performance

Launched Oct 1, 2025

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.
TBXU$16,815
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. TBXU $16,815. SPY $11,199. Use the arrow keys to read each point.$10,000$12,500$15,000Oct 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 TBXU. Periods over one year show the average yearly return.
PeriodTBXU
Year to date+53.7%
1 month+18.4%
3 months+38.2%
1 year+68.1%
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 TBXU
YearReturn barTBXU
2026 YTD+53.7%
2025+18.2%

Since listing, Oct 1, 2025

TBXU in the news

TBXU Dividends

Last payment
$0.14 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 5 payments from 2025 to 2026 YTD. Dec 10, 2025 $0.31; Dec 23, 2025 $0.10; Mar 24, 2026 $0.10; Jun 23, 2026 $0.11; Sep 22, 2026 $0.14. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.14
Jun 23, 2026Jun 30, 2026$0.11
Mar 24, 2026Mar 31, 2026$0.10
Dec 23, 2025Dec 31, 2025$0.10
Dec 10, 2025Dec 17, 2025$0.31

$10,000 in TBXU 1 year ago paid $265 in dividends.

TBXU Risk

Risk pillarB65 out of 100Rank 25 of 98 in Leveraged Long (2x & Other)

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.
40.6%
Annualised · 12 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.
1.39
vs 3-month T-bills · 12 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.
−26.5%
12 months · trough Jun 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.
−0.18
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.

TBXU Cost

Compare TBXU and WX

Overpaying vs WX, cheapest in Leveraged Long (2x & Other)

$14,207

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

  • TBXU 0.98%

    $18,362

  • WX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • TBXU 0.98%
  • WX 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$20K051015202530TBXU $18,362WX $4,155

Year by year

YearTBXUWXOverpaying
10$1,729$365$1,364
20$6,504$1,421$5,083
30$18,362$4,155$14,207
How the 0.98% is worked out

Full fee 6.27%− waiver 5.29%= you pay 0.98%

The waiver ends Sep 1, 2027. After that the fee is 6.27% unless Direxion renews it. Source: prospectus, Mar 2026.

Other funds in Leveraged Long (2x & Other)

See others