NFLU vs. NFXL

Last updated Jun 23, 2026

NFLU (T-REX 2X Long Netflix Daily Target ETF) and NFXL (Direxion Daily NFLX Bull 2X Shares) are both Leveraged Equities funds. Both are actively managed. Over the past year, NFLU returned -72.52% vs -72.07% for NFXL. With a 0.99 correlation, they move nearly in lockstep. NFLU charges 1.05%/yr vs 1.06%/yr for NFXL.

Performance

NFLU vs. NFXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long Netflix Daily Target ETF (NFLU) and Direxion Daily NFLX Bull 2X Shares (NFXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with NFLU having a -46.55% return and NFXL slightly higher at -46.04%.

NFLU

• 1D: -11.62%
• 1M: -33.41%
• YTD: -46.55%
• 6M: -46.22%
• 1Y: -72.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFXL

• 1D: -11.43%
• 1M: -33.32%
• YTD: -46.04%
• 6M: -45.56%
• 1Y: -72.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NFLU vs. NFXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFLU T-REX 2X Long Netflix Daily Target ETF	-46.55%	-12.47%	48.69%
NFXL Direxion Daily NFLX Bull 2X Shares	-46.04%	-11.98%	51.02%

Correlation

The correlation between NFLU and NFXL is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.99

The correlation between NFLU and NFXL has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

NFLU vs. NFXL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NFLU

NFLU Risk / Return Rank: 1
NFLU Sharpe Ratio Rank: 1
NFLU Sortino Ratio Rank: 1
NFLU Omega Ratio Rank: 0
NFLU Calmar Ratio Rank: 1
NFLU Martin Ratio Rank: 1

NFXL

NFXL Risk / Return Rank: 1
NFXL Sharpe Ratio Rank: 1
NFXL Sortino Ratio Rank: 1
NFXL Omega Ratio Rank: 0
NFXL Calmar Ratio Rank: 1
NFXL Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NFLU vs. NFXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long Netflix Daily Target ETF (NFLU) and Direxion Daily NFLX Bull 2X Shares (NFXL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NFLU	NFXL	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	-1.07	0.00
Sortino ratio: Return per unit of downside risk	-2.03	-2.02	-0.01
Omega ratio: Gain probability vs. loss probability	0.75	0.75	0.00
Calmar ratio: Return relative to maximum drawdown	-0.95	-0.95	0.00
Martin ratio: Return relative to average drawdown	-1.48	-1.48	0.00

NFLU vs. NFXL - Sharpe Ratio Comparison

The current NFLU Sharpe Ratio is -1.07, which is comparable to the NFXL Sharpe Ratio of -1.07. The chart below compares the historical Sharpe Ratios of NFLU and NFXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NFLU vs. NFXL - Drawdown Comparison

The maximum NFLU drawdown since its inception was -76.67%, roughly equal to the maximum NFXL drawdown of -76.33%. Use the drawdown chart below to compare losses from any high point for NFLU and NFXL.

Drawdown Indicators

	NFLU	NFXL	Difference
Max Drawdown Largest peak-to-trough decline	-76.67%	-76.33%	-0.34%
Max Drawdown (1Y) Largest decline over 1 year	-76.67%	-76.33%	-0.34%
Current Drawdown Current decline from peak	-76.67%	-76.33%	-0.34%
Average Drawdown Average peak-to-trough decline	-29.07%	-29.22%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.84%	48.62%	+0.22%

Volatility

NFLU vs. NFXL - Volatility Comparison

T-REX 2X Long Netflix Daily Target ETF (NFLU) and Direxion Daily NFLX Bull 2X Shares (NFXL) have volatilities of 16.58% and 16.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFLU	NFXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.58%	16.44%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	50.91%	50.68%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	68.00%	67.72%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.14%	69.46%	-0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.14%	69.46%	-0.32%

NFLU vs. NFXL - Expense Ratio Comparison

NFLU has a 1.05% expense ratio, which is lower than NFXL's 1.06% expense ratio.

Dividends

NFLU vs. NFXL - Dividend Comparison

NFLU has not paid dividends to shareholders, while NFXL's dividend yield for the trailing twelve months is around 14.78%.

Position	TTM	2025	2024
NFLU T-REX 2X Long Netflix Daily Target ETF	0.00%	0.00%	0.00%
NFXL Direxion Daily NFLX Bull 2X Shares	14.78%	7.97%	0.59%

Frequently Asked Questions

Can I hold both NFLU and NFXL in my portfolio?

With a correlation of 0.99, NFLU and NFXL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NFLU or NFXL?

NFLU has higher volatility (16.58%) compared to NFXL (16.44%). In terms of maximum drawdown, NFLU dropped -76.67% vs NFXL's -76.33%.

Which ETF is better, NFLU or NFXL?

On 1-year performance, NFXL leads with -72.07% vs -72.52% for NFLU. On fees, NFLU is cheaper at 1.05% per year. On volatility, NFXL has been the lower-risk option at 16.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFLU or NFXL?

Over the 1-year period, NFXL has performed better with a -72.07% return vs -72.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFLU or NFXL?

NFLU is cheaper with a 1.05% expense ratio, compared with 1.06% for NFXL.

Which ETF pays a higher dividend yield, NFLU or NFXL?

NFXL has the higher dividend yield at 14.78%, compared with 0.00% for NFLU.

What is the main difference between NFLU and NFXL?

They also come from different issuers: REX Shares and Direxion. Their fees differ too: 1.05% for NFLU and 1.06% for NFXL.

Which has better risk-adjusted returns?

NFXL currently has the higher Sharpe Ratio (-1.07 vs -1.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.