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NFXL vs UNHG

Direxion Daily NFLX Bull 2X Shares

NFXLCNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

0.0%by weight

Expense ratio

UNHG −0.28pt a year

NFXL1.05%UNHG0.77%

Avg volume · 30D

NFXL 2.1×the volume

NFXL1.51MUNHG726K

NFXL vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

−75.7%NFXL+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. NFXL −75.7%. UNHG +11.9%. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2025Apr 2026Oct 2026
Expense ratio
NFXL 1.05%
UNHG 0.77%, better
Fund size
NFXL $113M
UNHG $63M
1Y total return
NFXL −75.7%
UNHG +11.9%, better
Yield (12M)
NFXL 17.84%
UNHG No data
Holdings
NFXL 10
UNHG 5
Avg volume (30D)
NFXL 1.51M sh, better
UNHG 726K sh
NAV per share
NFXL $10.79
UNHG $20.57
52W range

ETF.net Grade

NFXL: Cost 42, Risk 45, Mission 99, Tradability 63, Holdings not scored, Durability 83. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for NFXL, UNHG, with each pillar’s weight
PillarNFXLUNHG
Cost30% weightC42B60Higher
Mission25% weightA99HigherA90
Risk15% weightC45A83Higher
Tradability15% weightB63A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA83HigherB66

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. NFXL and UNHG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

UNHG ranks 2nd and NFXL 84th of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  4. Rank 84CMSFXT-Rex 2X Long Microsoft Daily Target ETFScore 50
  5. Rank 84CNFXLDirexion Daily NFLX Bull 2X SharesScore 50
  6. Rank 89CRVNLGraniteShares 2x Long RIVN Daily ETFScore 49

Our read on each fund

ETF.net Research

NFXLCDirexion Daily NFLX Bull 2X Shares

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

NFXL Netflix 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.

UNHG Two times UnitedHealth's daily move, reset every night: a managed-care insurer in a category stuffed with chip and AI names. UNHG got there first, and it charges 0.77%.

Stated mandate

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

UNHG The fund seeks daily investment results equal to twice the daily performance of UnitedHealth Group Incorporated stock, before fees and expenses.

Why people hold it

  • NFXL 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
  • UNHG At 0.77%, the cheaper of the only two 2x UNH funds: Direxion's UNHU runs 0.97% net of a waiver through September 1, 2027. Both sit below the category's typical fee.
  • First to the 2x UNH trade, listed July 2025, months before Direxion's version arrived in March 2026. It trades actively for a single-stock leveraged fund.direxion.com
  • Exposure comes from total return swaps reset at each close, and day-to-day it has stayed close to its 2x target. One of the better-built funds in a crowded bull field.leverageshares.comsec.gov

Worth knowing

  • NFXL 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
  • UNHG Daily reset means multi-day results depend on the path UNH takes, not just its direction. Choppy stretches can erode value even if the stock ends where it started.leverageshares.com
  • Swap-based exposure carries counterparty risk, and everything rides on one managed-care company's news, from earnings to policy headlines.leverageshares.com
  • Listed in 2025, so there is little history to judge it across a full market cycle.

Full NFXL profile⁠

Full UNHG profile⁠

NFXL vs UNHG Holdings

How NFXL and UNHG differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of NFXL and 0.0% of UNHG.

Level by level

  • Holdings0 in both0.0%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for UNHG.

Country, concentration and asset class

Country by domicile

Country weights in NFXL and UNHG, widest gap first
CountryMore in NFXLMore in UNHG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • NFXL100.0%
  • UNHG212.0%

Securities held

  • NFXL3
  • UNHG1

Asset class

NFXL
Equity
UNHG
Equity

Holdings

  • Only in NFXL3
  • In both0
  • Only in UNHG1

Only in NFXL

3 securities, 18.0% of NFXL by weight

  • Goldman Sachs Fin Gov 465 Institut8.50%
  • Goldman Finl Sq Trsry Inst 5064.96%
  • Netflix Inc4.53%

Only in UNHG

1 security, 12.0% of UNHG by weight

  • First American Treasury Obligations Fund 01/01/204011.99%

Weight gaps

NFXL and UNHG share no securities.

All NFXL holdings⁠All 5 UNHG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

NFXL vs UNHG Cost

Overpaying NFXL vs UNHG

$4,666

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

  • NFXL 1.05%

    $19,495

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • NFXL 1.05%
  • UNHG 0.77%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530NFXL $19,495UNHG $14,829

Year by year

YearNFXLUNHGOverpaying
10$1,847$1,371$476
20$6,927$5,205$1,722
30$19,495$14,829$4,666

Expense ratio

  • 1.05%NFXL
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

NFXL 201st cheapest of 315 funds

NFXL vs UNHG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
NFXL 17.84%
UNHG No data
Payout (12M)
NFXL $1.92
UNHG No data
Last payment
NFXL $0.12
UNHG $1.90
Ex-dividend
NFXL Sep 22, 2026
UNHG Dec 30, 2025
Paid on
NFXL Sep 29, 2026
UNHG Jan 2, 2026
Frequency
NFXL Quarterly
UNHG Irregular

Distribution history

Per share, 2024 to 2026, same scale for both

NFXLQuarterly · 10 paymentsAll NFXL payments⁠
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.$0$22026YTD
UNHGIrregular · 1 paymentAll UNHG payments⁠
One bar per payment. 1 payment from 2024 to 2026 YTD. Dec 30, 2025 $1.90. Use the arrow keys to read each point.$0$22026YTD

NFXL vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NFXL 73.8%since Nov 2024UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
NFXL −0.28since Nov 2024UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
NFXL −84.2%since Oct 2024UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
NFXL 0.79UNHG 5.53

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