NFXL vs. ERX
NFXL (Direxion Daily NFLX Bull 2X Shares) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - NFXL is a Leveraged Equities fund actively managed by Direxion, while ERX is a Energy Equities fund tracking the Energy Select Sector Index (200%). NFXL is actively managed, while ERX is passively managed. Over the past year, NFXL returned -68.22% vs 81.13% for ERX. Their -0.00 correlation means they have often moved in opposite directions in the past. NFXL charges 1.06%/yr vs 0.91%/yr for ERX.
Performance
NFXL vs. ERX - Performance Comparison
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Returns By Period
In the year-to-date period, NFXL achieves a -46.98% return, which is significantly lower than ERX's 66.56% return.
NFXL
- 1D
- 4.63%
- 1M
- -12.43%
- 6M
- -31.11%
- YTD
- -46.98%
- 1Y
- -68.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -17.39%
ERX
- 1D
- -2.60%
- 1M
- 20.71%
- 6M
- 34.28%
- YTD
- 66.56%
- 1Y
- 81.13%
- 3Y*
- 16.84%
- 5Y*
- 36.03%
- 10Y*
- -9.07%
- ALL TIME*
- -7.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.45M | $22.83M | $28.29M | |
| $17.34M | $25.07M | $22.41M |
NFXL vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NFXL Direxion Daily NFLX Bull 2X Shares | -46.98% | -11.98% | 51.02% |
ERX Direxion Daily Energy Bull 2X Shares | 66.56% | 2.79% | -11.48% |
Correlation
The correlation between NFXL and ERX is -0.05, 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. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | -0.00 |
NFXL vs. ERX - Sectors Allocation Comparison
Sectors
NFXL
ERX
Communication Services
-
Basic Materials
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Communication Services
NFXL
ERX
-
Basic Materials
NFXL
-
ERX
-
Consumer Cyclical
NFXL
-
ERX
-
Consumer Defensive
NFXL
-
ERX
-
Energy
NFXL
-
ERX
Financial Services
NFXL
-
ERX
-
Healthcare
NFXL
-
ERX
-
Industrials
NFXL
-
ERX
-
Real Estate
NFXL
-
ERX
-
Technology
NFXL
-
ERX
-
Utilities
NFXL
-
ERX
-
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Return for Risk
NFXL vs. ERX — Risk / Return Rank
NFXL
ERX
NFXL vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bull 2X Shares (NFXL) and Direxion Daily Energy Bull 2X Shares (ERX). 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 | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.91 | ||
| Sortino ratioReturn per unit of downside risk | -4.07 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.29 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 2.72 | -3.61 |
| Martin ratioReturn relative to average drawdown | -1.40 | 6.90 | -8.29 |
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Drawdowns
NFXL vs. ERX - Drawdown Comparison
The maximum NFXL drawdown since its inception was -80.15%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for NFXL and ERX.
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Drawdown Indicators
| NFXL | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.15% | -99.54% | +19.39% |
Max Drawdown (1Y)Largest decline over 1 year | -76.83% | -29.97% | -46.86% |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.90% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.59% | — |
Current DrawdownCurrent decline from peak | -76.75% | -91.59% | +14.84% |
Average DrawdownAverage peak-to-trough decline | -32.23% | -67.25% | +35.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.80% | 11.81% | +36.99% |
Volatility
NFXL vs. ERX - Volatility Comparison
Direxion Daily NFLX Bull 2X Shares (NFXL) has a higher volatility of 21.79% compared to Direxion Daily Energy Bull 2X Shares (ERX) at 12.43%. This indicates that NFXL's price experiences larger fluctuations and is considered to be riskier than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NFXL | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.79% | 12.43% | +9.36% |
Volatility (6M)Calculated over the trailing 6-month period | 55.84% | 33.84% | +22.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.89% | 42.28% | +27.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.95% | 51.50% | +18.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.95% | 68.84% | +1.11% |
NFXL vs. ERX - Expense Ratio Comparison
NFXL has a 1.06% expense ratio, which is higher than ERX's 0.91% expense ratio.
Dividends
NFXL vs. ERX - Dividend Comparison
NFXL's dividend yield for the trailing twelve months is around 13.45%, more than ERX's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.53% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
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% |
Frequently Asked Questions
NFXL and ERX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFXL has higher volatility (21.79%) compared to ERX (12.43%). In terms of maximum drawdown, NFXL dropped -80.15% vs ERX's -99.54%.
On 1-year performance, ERX leads with 81.13% vs -68.22% for NFXL. On fees, ERX is cheaper at 0.91% per year. On volatility, ERX has been the lower-risk option at 12.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ERX has performed better with a 81.13% return vs -68.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ERX is cheaper with a 0.91% expense ratio, compared with 1.06% for NFXL.
NFXL has the higher dividend yield at 13.45%, compared with 1.53% for ERX.
NFXL is categorized as Leveraged Equities, while ERX is Energy Equities. Their fees differ too: 1.06% for NFXL and 0.91% for ERX.
ERX currently has the higher Sharpe Ratio (1.93 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.
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