NFXL vs. IEZ
NFXL (Direxion Daily NFLX Bull 2X Shares) and IEZ (iShares U.S. Oil Equipment & Services ETF) are both exchange-traded funds - NFXL is a Leveraged Equities fund actively managed by Direxion, while IEZ is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Equipment & Services Index. NFXL is actively managed, while IEZ is passively managed. Over the past year, NFXL returned -73.19% vs 64.80% for IEZ. At a correlation of -0.01, they often move in opposite directions. NFXL charges 1.06%/yr vs 0.42%/yr for IEZ.
Performance
NFXL vs. IEZ - Performance Comparison
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Returns By Period
In the year-to-date period, NFXL achieves a -46.29% return, which is significantly lower than IEZ's 33.32% return.
NFXL
- 1D
- -0.46%
- 1M
- -33.63%
- YTD
- -46.29%
- 6M
- -46.11%
- 1Y
- -73.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEZ
- 1D
- -0.72%
- 1M
- -12.99%
- YTD
- 33.32%
- 6M
- 33.77%
- 1Y
- 64.80%
- 3Y*
- 15.70%
- 5Y*
- 12.80%
- 10Y*
- -1.46%
NFXL vs. IEZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NFXL Direxion Daily NFLX Bull 2X Shares | -46.29% | -11.98% | 51.02% |
IEZ iShares U.S. Oil Equipment & Services ETF | 33.32% | 7.51% | -4.07% |
Correlation
The correlation between NFXL and IEZ is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | -0.01 |
The correlation between NFXL and IEZ shifts across timeframes, from -0.11 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
NFXL vs. IEZ - Sectors Allocation Comparison
Sectors
NFXL
IEZ
Communication Services
-
Basic Materials
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
Real Estate
-
-
Technology
-
-
Utilities
-
Communication Services
NFXL
IEZ
-
Basic Materials
NFXL
-
IEZ
-
Consumer Cyclical
NFXL
-
IEZ
-
Consumer Defensive
NFXL
-
IEZ
-
Energy
NFXL
-
IEZ
Financial Services
NFXL
-
IEZ
-
Healthcare
NFXL
-
IEZ
-
Industrials
NFXL
-
IEZ
Real Estate
NFXL
-
IEZ
-
Technology
NFXL
-
IEZ
-
Utilities
NFXL
-
IEZ
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Return for Risk
NFXL vs. IEZ — Risk / Return Rank
NFXL
IEZ
NFXL vs. IEZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bull 2X Shares (NFXL) and iShares U.S. Oil Equipment & Services ETF (IEZ). 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 | IEZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.32 | ||
| Sortino ratioReturn per unit of downside risk | -5.01 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.36 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 4.35 | -5.31 |
| Martin ratioReturn relative to average drawdown | -1.50 | 15.22 | -16.72 |
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Drawdowns
NFXL vs. IEZ - Drawdown Comparison
The maximum NFXL drawdown since its inception was -76.44%, smaller than the maximum IEZ drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for NFXL and IEZ.
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Drawdown Indicators
| NFXL | IEZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.44% | -92.52% | +16.08% |
Max Drawdown (1Y)Largest decline over 1 year | -76.44% | -14.97% | -61.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -40.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -88.29% | — |
Current DrawdownCurrent decline from peak | -76.44% | -56.00% | -20.44% |
Average DrawdownAverage peak-to-trough decline | -29.33% | -48.26% | +18.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.86% | 4.27% | +44.59% |
Volatility
NFXL vs. IEZ - Volatility Comparison
Direxion Daily NFLX Bull 2X Shares (NFXL) has a higher volatility of 15.90% compared to iShares U.S. Oil Equipment & Services ETF (IEZ) at 9.89%. This indicates that NFXL's price experiences larger fluctuations and is considered to be riskier than IEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NFXL | IEZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.90% | 9.89% | +6.01% |
Volatility (6M)Calculated over the trailing 6-month period | 50.66% | 20.84% | +29.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.58% | 29.51% | +38.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.38% | 36.32% | +33.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.38% | 41.52% | +27.86% |
NFXL vs. IEZ - Expense Ratio Comparison
NFXL has a 1.06% expense ratio, which is higher than IEZ's 0.42% expense ratio.
Dividends
NFXL vs. IEZ - Dividend Comparison
NFXL's dividend yield for the trailing twelve months is around 15.44%, more than IEZ's 1.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEZ iShares U.S. Oil Equipment & Services ETF | 1.24% | 1.87% | 1.76% | 0.97% | 0.65% | 1.20% | 2.07% | 2.28% | 1.81% | 3.42% | 0.91% | 2.40% |
NFXL Direxion Daily NFLX Bull 2X Shares | 15.44% | 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
NFXL and IEZ have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFXL has higher volatility (15.90%) compared to IEZ (9.89%). In terms of maximum drawdown, NFXL dropped -76.44% vs IEZ's -92.52%.
On 1-year performance, IEZ leads with 64.80% vs -73.19% for NFXL. On fees, IEZ is cheaper at 0.42% per year. On volatility, IEZ has been the lower-risk option at 9.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IEZ has performed better with a 64.80% return vs -73.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEZ is cheaper with a 0.42% expense ratio, compared with 1.06% for NFXL.
NFXL has the higher dividend yield at 15.44%, compared with 1.24% for IEZ.
NFXL is categorized as Leveraged Equities, while IEZ is Energy Equities. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.06% for NFXL and 0.42% for IEZ.
IEZ currently has the higher Sharpe Ratio (2.23 vs -1.09), 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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