NFXL vs. FTXL

Last updated Aug 4, 2026

NFXL (Direxion Daily NFLX Bull 2X Shares) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - NFXL is a Leveraged Equities fund actively managed by Direxion, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. NFXL is actively managed, while FTXL is passively managed. Over the past year, NFXL returned -68.22% vs 129.18% for FTXL. Their 0.06 correlation means their historical movements had little consistent relationship. NFXL charges 1.06%/yr vs 0.60%/yr for FTXL.

Performance

NFXL vs. FTXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NFLX Bull 2X Shares (NFXL) and First Trust Nasdaq Semiconductor ETF (FTXL). 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 FTXL's 68.79% return.

NFXL

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

FTXL

• 1D: 0.95%
• 1M: -12.68%
• 6M: 40.05%
• YTD: 68.79%
• 1Y: 129.18%
• 3Y*: 45.38%
• 5Y*: 26.40%
• 10Y*: —
• ALL TIME*: 28.08%

*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)
FTXL First Trust Nasdaq Semiconductor ETF	$142.99M	$99.08M	$87.36M
NFXL Direxion Daily NFLX Bull 2X Shares	$17.34M	$25.07M	$22.41M

NFXL vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFXL Direxion Daily NFLX Bull 2X Shares	-46.98%	-11.98%	51.02%
FTXL First Trust Nasdaq Semiconductor ETF	68.79%	48.94%	-4.61%

Correlation

The correlation between NFXL and FTXL is -0.16, 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.	-0.16
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.06

The correlation between NFXL and FTXL shifts across timeframes, from -0.16 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

NFXL vs. FTXL - Sectors Allocation Comparison

Sectors	NFXL	FTXL
Communication Services	100.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.4%
Real Estate	-	-
Technology	-	99.6%
Utilities	-	-

Return for Risk

NFXL vs. FTXL — 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

FTXL

FTXL Risk / Return Rank: 91
FTXL Sharpe Ratio Rank: 95
FTXL Sortino Ratio Rank: 88
FTXL Omega Ratio Rank: 88
FTXL Calmar Ratio Rank: 90
FTXL Martin Ratio Rank: 93

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. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bull 2X Shares (NFXL) and First Trust Nasdaq Semiconductor ETF (FTXL). 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	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	2.82	-3.80
Sortino ratio: Return per unit of downside risk	-1.71	3.02	-4.74
Omega ratio: Gain probability vs. loss probability	0.78	1.40	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.89	3.98	-4.87
Martin ratio: Return relative to average drawdown	-1.40	16.86	-18.26

NFXL vs. FTXL - Sharpe Ratio Comparison

The current NFXL Sharpe Ratio is -0.98, which is lower than the FTXL Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of NFXL and FTXL, 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. FTXL - Drawdown Comparison

The maximum NFXL drawdown since its inception was -80.15%, which is greater than FTXL's maximum drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for NFXL and FTXL.

Drawdown Indicators

	NFXL	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-80.15%	-43.87%	-36.28%
Max Drawdown (1Y) Largest decline over 1 year	-76.83%	-32.64%	-44.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-41.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.87%	—
Current Drawdown Current decline from peak	-76.75%	-26.40%	-50.35%
Average Drawdown Average peak-to-trough decline	-32.23%	-10.61%	-21.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.80%	7.69%	+41.11%

Volatility

NFXL vs. FTXL - Volatility Comparison

Direxion Daily NFLX Bull 2X Shares (NFXL) has a higher volatility of 21.79% compared to First Trust Nasdaq Semiconductor ETF (FTXL) at 18.15%. This indicates that NFXL's price experiences larger fluctuations and is considered to be riskier than FTXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFXL	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.79%	18.15%	+3.64%
Volatility (6M) Calculated over the trailing 6-month period	55.84%	39.70%	+16.14%
Volatility (1Y) Calculated over the trailing 1-year period	69.89%	46.19%	+23.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.95%	38.25%	+31.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.95%	35.28%	+34.67%

NFXL vs. FTXL - Expense Ratio Comparison

NFXL has a 1.06% expense ratio, which is higher than FTXL's 0.60% expense ratio.

Dividends

NFXL vs. FTXL - Dividend Comparison

NFXL's dividend yield for the trailing twelve months is around 13.45%, more than FTXL's 0.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTXL First Trust Nasdaq Semiconductor ETF	0.11%	0.28%	0.54%	0.60%	0.89%	0.25%	0.48%	0.92%	0.71%	0.47%	0.12%
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%

Frequently Asked Questions

Can I hold both NFXL and FTXL in my portfolio?

NFXL and FTXL have a correlation of -0.16, 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 FTXL?

NFXL has higher volatility (21.79%) compared to FTXL (18.15%). In terms of maximum drawdown, NFXL dropped -80.15% vs FTXL's -43.87%.

Which ETF is better, NFXL or FTXL?

On 1-year performance, FTXL leads with 129.18% vs -68.22% for NFXL. On fees, FTXL is cheaper at 0.60% per year. On volatility, FTXL has been the lower-risk option at 18.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFXL or FTXL?

Over the 1-year period, FTXL has performed better with a 129.18% 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 FTXL?

FTXL is cheaper with a 0.60% expense ratio, compared with 1.06% for NFXL.

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

NFXL has the higher dividend yield at 13.45%, compared with 0.11% for FTXL.

What is the main difference between NFXL and FTXL?

NFXL is categorized as Leveraged Equities, while FTXL is Semiconductors. They also come from different issuers: Direxion and First Trust. Their fees differ too: 1.06% for NFXL and 0.60% for FTXL.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (2.82 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.