NFXL vs. AIS

Last updated Aug 4, 2026

NFXL (Direxion Daily NFLX Bull 2X Shares) and AIS (VistaShares Artificial Intelligence Supercycle ETF) are both exchange-traded funds - NFXL is a Leveraged Equities fund actively managed by Direxion, while AIS is a Artificial Intelligence fund actively managed by VistaShares. Both are actively managed. Over the past year, NFXL returned -68.22% vs 125.16% for AIS. Their 0.07 correlation means their historical movements had little consistent relationship. NFXL charges 1.06%/yr vs 0.75%/yr for AIS.

Performance

NFXL vs. AIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NFLX Bull 2X Shares (NFXL) and VistaShares Artificial Intelligence Supercycle ETF (AIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFXL achieves a -46.98% return, which is significantly lower than AIS's 72.78% return.

NFXL

• 1D: 4.63%
• 1M: -12.43%
• 6M: -31.11%
• YTD: -46.98%
• 1Y: -68.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -17.39%

AIS

• 1D: 2.42%
• 1M: -12.08%
• 6M: 49.99%
• YTD: 72.78%
• 1Y: 125.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 77.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIS VistaShares Artificial Intelligence Supercycle ETF	$38.16M	$40.99M	$51.37M
NFXL Direxion Daily NFLX Bull 2X Shares	$17.34M	$25.07M	$22.41M

NFXL vs. AIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFXL Direxion Daily NFLX Bull 2X Shares	-46.98%	-11.98%	-2.93%
AIS VistaShares Artificial Intelligence Supercycle ETF	72.78%	58.35%	-4.74%

Correlation

The correlation between NFXL and AIS is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.15
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	0.07

The correlation between NFXL and AIS shifts across timeframes, from -0.15 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

NFXL vs. AIS - Sectors Allocation Comparison

Sectors	NFXL	AIS
Communication Services	100.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	0.3%
Energy	-	-
Financial Services	-	-0.0%
Healthcare	-	-
Industrials	-	6.8%
Real Estate	-	-
Technology	-	87.2%
Utilities	-	2.9%

Return for Risk

NFXL vs. AIS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NFXL

NFXL Risk / Return Rank: 1
NFXL Sharpe Ratio Rank: 2
NFXL Sortino Ratio Rank: 1
NFXL Omega Ratio Rank: 1
NFXL Calmar Ratio Rank: 2
NFXL Martin Ratio Rank: 1

AIS

AIS Risk / Return Rank: 89
AIS Sharpe Ratio Rank: 94
AIS Sortino Ratio Rank: 85
AIS Omega Ratio Rank: 87
AIS Calmar Ratio Rank: 88
AIS Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NFXL vs. AIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bull 2X Shares (NFXL) and VistaShares Artificial Intelligence Supercycle ETF (AIS). 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.

	NFXL	AIS	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	2.64	-3.62
Sortino ratio: Return per unit of downside risk	-1.71	2.87	-4.58
Omega ratio: Gain probability vs. loss probability	0.78	1.39	-0.61
Calmar ratio: Return relative to maximum drawdown	-0.89	3.66	-4.55
Martin ratio: Return relative to average drawdown	-1.40	14.88	-16.28

NFXL vs. AIS - Sharpe Ratio Comparison

The current NFXL Sharpe Ratio is -0.98, which is lower than the AIS Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of NFXL and AIS, 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

NFXL vs. AIS - Drawdown Comparison

The maximum NFXL drawdown since its inception was -80.15%, which is greater than AIS's maximum drawdown of -34.44%. Use the drawdown chart below to compare losses from any high point for NFXL and AIS.

Drawdown Indicators

	NFXL	AIS	Difference
Max Drawdown Largest peak-to-trough decline	-80.15%	-34.44%	-45.71%
Max Drawdown (1Y) Largest decline over 1 year	-76.83%	-34.44%	-42.39%
Current Drawdown Current decline from peak	-76.75%	-26.18%	-50.57%
Average Drawdown Average peak-to-trough decline	-32.23%	-6.35%	-25.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.80%	8.44%	+40.36%

Volatility

NFXL vs. AIS - Volatility Comparison

Direxion Daily NFLX Bull 2X Shares (NFXL) and VistaShares Artificial Intelligence Supercycle ETF (AIS) have volatilities of 21.79% and 20.84%, 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

	NFXL	AIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.79%	20.84%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	55.84%	43.14%	+12.70%
Volatility (1Y) Calculated over the trailing 1-year period	69.89%	47.84%	+22.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.95%	43.98%	+25.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.95%	43.98%	+25.97%

NFXL vs. AIS - Expense Ratio Comparison

NFXL has a 1.06% expense ratio, which is higher than AIS's 0.75% expense ratio.

Dividends

NFXL vs. AIS - Dividend Comparison

NFXL's dividend yield for the trailing twelve months is around 13.45%, while AIS has not paid dividends to shareholders.

Position	TTM	2025	2024
AIS VistaShares Artificial Intelligence Supercycle ETF	0.00%	0.00%	0.00%
NFXL Direxion Daily NFLX Bull 2X Shares	13.45%	7.97%	0.59%

Frequently Asked Questions

Can I hold both NFXL and AIS in my portfolio?

NFXL and AIS have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFXL or AIS?

NFXL has higher volatility (21.79%) compared to AIS (20.84%). In terms of maximum drawdown, NFXL dropped -80.15% vs AIS's -34.44%.

Which ETF is better, NFXL or AIS?

On 1-year performance, AIS leads with 125.16% vs -68.22% for NFXL. On fees, AIS is cheaper at 0.75% per year. On volatility, AIS has been the lower-risk option at 20.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFXL or AIS?

Over the 1-year period, AIS has performed better with a 125.16% return vs -68.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFXL or AIS?

AIS is cheaper with a 0.75% expense ratio, compared with 1.06% for NFXL.

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

NFXL has the higher dividend yield at 13.45%, compared with 0.00% for AIS.

What is the main difference between NFXL and AIS?

NFXL is categorized as Leveraged Equities, while AIS is Artificial Intelligence. They also come from different issuers: Direxion and VistaShares. Their fees differ too: 1.06% for NFXL and 0.75% for AIS.

Which has better risk-adjusted returns?

AIS currently has the higher Sharpe Ratio (2.64 vs -0.98), 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.