NFXL vs. NFLX

Last updated Jun 3, 2026

NFXL (Direxion Daily NFLX Bull 2X Shares) is Leveraged Equities fund actively managed by Direxion, while NFLX (Netflix, Inc.) is a stock. Over the past year, NFXL returned -62.59% vs -31.64% for NFLX. With a 1.00 correlation, they move nearly in lockstep.

Performance

NFXL vs. NFLX - Performance Comparison

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

Returns By Period

In the year-to-date period, NFXL achieves a -28.60% return, which is significantly lower than NFLX's -11.12% return.

NFXL

• 1D: -5.81%
• 1M: -19.33%
• YTD: -28.60%
• 6M: -48.60%
• 1Y: -62.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFLX

• 1D: -2.94%
• 1M: -9.48%
• YTD: -11.12%
• 6M: -23.80%
• 1Y: -31.64%
• 3Y*: 27.67%
• 5Y*: 11.23%
• 10Y*: 23.67%

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

NFXL vs. NFLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFXL Direxion Daily NFLX Bull 2X Shares	-28.60%	-11.98%	50.97%
NFLX Netflix, Inc.	-11.12%	5.19%	26.11%

Correlation

The correlation between NFXL and NFLX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	1.00

The correlation between NFXL and NFLX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

NFXL vs. NFLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NFXL

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

NFLX

NFLX Risk / Return Rank: 9
NFLX Sharpe Ratio Rank: 5
NFLX Sortino Ratio Rank: 7
NFLX Omega Ratio Rank: 7
NFLX Calmar Ratio Rank: 14
NFLX Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NFXL vs. NFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bull 2X Shares (NFXL) and Netflix, Inc. (NFLX). 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.

	NFXL	NFLX	Difference
Sharpe ratio Return per unit of total volatility	-0.95	-0.96	+0.01
Sortino ratio Return per unit of downside risk	-1.54	-1.32	-0.22
Omega ratio Gain probability vs. loss probability	0.80	0.83	-0.03
Calmar ratio Return relative to maximum drawdown	-0.86	-0.71	-0.14
Martin ratio Return relative to average drawdown	-1.35	-1.28	-0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFXL vs. NFLX - Sharpe Ratio Comparison

The current NFXL Sharpe Ratio is -0.95, which is comparable to the NFLX Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of NFXL and NFLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NFXL	NFLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.95	-0.96	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.26	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.58	-0.62

Drawdowns

NFXL vs. NFLX - Drawdown Comparison

The maximum NFXL drawdown since its inception was -71.97%, smaller than the maximum NFLX drawdown of -81.99%. Use the drawdown chart below to compare losses from any high point for NFXL and NFLX.

Drawdown Indicators

	NFXL	NFLX	Difference
Max Drawdown Largest peak-to-trough decline	-71.97%	-81.99%	+10.02%
Max Drawdown (1Y) Largest decline over 1 year	-71.97%	-43.35%	-28.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-43.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-75.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.95%	—
Current Drawdown Current decline from peak	-68.68%	-37.77%	-30.91%
Average Drawdown Average peak-to-trough decline	-27.97%	-24.89%	-3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.86%	24.22%	+21.64%

Volatility

NFXL vs. NFLX - Volatility Comparison

Direxion Daily NFLX Bull 2X Shares (NFXL) has a higher volatility of 14.02% compared to Netflix, Inc. (NFLX) at 7.05%. This indicates that NFXL's price experiences larger fluctuations and is considered to be riskier than NFLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFXL	NFLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.02%	7.05%	+6.97%
Volatility (6M) Calculated over the trailing 6-month period	51.06%	25.64%	+25.42%
Volatility (1Y) Calculated over the trailing 1-year period	66.27%	33.09%	+33.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.51%	43.10%	+26.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.51%	41.52%	+27.99%

Dividends

NFXL vs. NFLX - Dividend Comparison

NFXL's dividend yield for the trailing twelve months is around 11.17%, while NFLX has not paid dividends to shareholders.

Position	TTM	2025	2024
NFLX Netflix, Inc.	0.00%	0.00%	0.00%
NFXL Direxion Daily NFLX Bull 2X Shares	11.17%	7.97%	0.59%

Frequently Asked Questions

Can I hold both NFXL and NFLX in my portfolio?

With a correlation of 1.00, NFXL and NFLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NFXL or NFLX?

NFXL has higher volatility (14.02%) compared to NFLX (7.05%). In terms of maximum drawdown, NFXL dropped -71.97% vs NFLX's -81.99%.

Which has better risk-adjusted returns?

NFXL currently has the higher Sharpe Ratio (-0.95 vs -0.96), 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.