NFXL vs. DIG

Last updated Aug 4, 2026

NFXL (Direxion Daily NFLX Bull 2X Shares) and DIG (ProShares Ultra Energy) are both Leveraged Equities funds. NFXL is actively managed, while DIG is passively managed. Over the past year, NFXL returned -68.22% vs 81.22% for DIG. Their 0.00 correlation means their historical movements had little consistent relationship. NFXL charges 1.06%/yr vs 0.95%/yr for DIG.

Performance

NFXL vs. DIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NFLX Bull 2X Shares (NFXL) and ProShares Ultra Energy (DIG). 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 DIG's 66.37% return.

NFXL

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

DIG

• 1D: -2.58%
• 1M: 20.98%
• 6M: 33.99%
• YTD: 66.37%
• 1Y: 81.22%
• 3Y*: 16.66%
• 5Y*: 35.08%
• 10Y*: 5.18%
• ALL TIME*: -0.04%

*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)
DIG ProShares Ultra Energy	$2.23M	$2.48M	$2.42M
NFXL Direxion Daily NFLX Bull 2X Shares	$17.34M	$25.07M	$22.41M

NFXL vs. DIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFXL Direxion Daily NFLX Bull 2X Shares	-46.98%	-11.98%	51.02%
DIG ProShares Ultra Energy	66.37%	2.73%	-11.38%

Correlation

The correlation between NFXL and DIG is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.04
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.00

NFXL vs. DIG - Sectors Allocation Comparison

Sectors	NFXL	DIG
Communication Services	100.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	62.4%
Financial Services	-	6.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

NFXL vs. DIG — 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

DIG

DIG Risk / Return Rank: 70
DIG Sharpe Ratio Rank: 81
DIG Sortino Ratio Rank: 71
DIG Omega Ratio Rank: 68
DIG Calmar Ratio Rank: 75
DIG Martin Ratio Rank: 57

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. DIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bull 2X Shares (NFXL) and ProShares Ultra Energy (DIG). 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	DIG	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	1.94	-2.92
Sortino ratio: Return per unit of downside risk	-1.71	2.36	-4.07
Omega ratio: Gain probability vs. loss probability	0.78	1.29	-0.51
Calmar ratio: Return relative to maximum drawdown	-0.89	2.74	-3.63
Martin ratio: Return relative to average drawdown	-1.40	6.98	-8.37

NFXL vs. DIG - Sharpe Ratio Comparison

The current NFXL Sharpe Ratio is -0.98, which is lower than the DIG Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of NFXL and DIG, 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. DIG - Drawdown Comparison

The maximum NFXL drawdown since its inception was -80.15%, smaller than the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for NFXL and DIG.

Drawdown Indicators

	NFXL	DIG	Difference
Max Drawdown Largest peak-to-trough decline	-80.15%	-97.04%	+16.89%
Max Drawdown (1Y) Largest decline over 1 year	-76.83%	-29.80%	-47.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-42.41%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-92.53%	—
Current Drawdown Current decline from peak	-76.75%	-51.26%	-25.49%
Average Drawdown Average peak-to-trough decline	-32.23%	-64.27%	+32.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.80%	11.68%	+37.12%

Volatility

NFXL vs. DIG - Volatility Comparison

Direxion Daily NFLX Bull 2X Shares (NFXL) has a higher volatility of 21.79% compared to ProShares Ultra Energy (DIG) at 12.58%. This indicates that NFXL's price experiences larger fluctuations and is considered to be riskier than DIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFXL	DIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.79%	12.58%	+9.21%
Volatility (6M) Calculated over the trailing 6-month period	55.84%	33.67%	+22.17%
Volatility (1Y) Calculated over the trailing 1-year period	69.89%	42.13%	+27.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.95%	51.16%	+18.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.95%	57.79%	+12.16%

NFXL vs. DIG - Expense Ratio Comparison

NFXL has a 1.06% expense ratio, which is higher than DIG's 0.95% expense ratio.

Dividends

NFXL vs. DIG - Dividend Comparison

NFXL's dividend yield for the trailing twelve months is around 13.45%, more than DIG's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIG ProShares Ultra Energy	1.49%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%
NFXL Direxion Daily NFLX Bull 2X Shares	13.45%	7.97%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NFXL and DIG in my portfolio?

NFXL and DIG have a correlation of -0.04, 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 DIG?

NFXL has higher volatility (21.79%) compared to DIG (12.58%). In terms of maximum drawdown, NFXL dropped -80.15% vs DIG's -97.04%.

Which ETF is better, NFXL or DIG?

On 1-year performance, DIG leads with 81.22% vs -68.22% for NFXL. On fees, DIG is cheaper at 0.95% per year. On volatility, DIG has been the lower-risk option at 12.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFXL or DIG?

Over the 1-year period, DIG has performed better with a 81.22% 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 DIG?

DIG is cheaper with a 0.95% expense ratio, compared with 1.06% for NFXL.

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

NFXL has the higher dividend yield at 13.45%, compared with 1.49% for DIG.

What is the main difference between NFXL and DIG?

They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for NFXL and 0.95% for DIG.

Which has better risk-adjusted returns?

DIG currently has the higher Sharpe Ratio (1.94 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.