NFXL vs. XDQQ

Last updated Aug 4, 2026

NFXL (Direxion Daily NFLX Bull 2X Shares) and XDQQ (Innovator Growth Accelerated ETF - Quarterly) are both Leveraged Equities funds. Both are actively managed. Over the past year, NFXL returned -68.22% vs 10.17% for XDQQ. Their 0.34 correlation means their historical movements had little consistent relationship. NFXL charges 1.06%/yr vs 0.79%/yr for XDQQ.

Performance

NFXL vs. XDQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NFLX Bull 2X Shares (NFXL) and Innovator Growth Accelerated ETF - Quarterly (XDQQ). 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 XDQQ's -1.59% return.

NFXL

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

XDQQ

• 1D: 1.78%
• 1M: -1.63%
• 6M: -3.53%
• YTD: -1.59%
• 1Y: 10.17%
• 3Y*: 15.50%
• 5Y*: 6.22%
• 10Y*: —
• ALL TIME*: 7.95%

*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)
NFXL Direxion Daily NFLX Bull 2X Shares	$17.34M	$25.07M	$22.41M
XDQQ Innovator Growth Accelerated ETF - Quarterly	$488.37K	$671.97K	$332.30K

NFXL vs. XDQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFXL Direxion Daily NFLX Bull 2X Shares	-46.98%	-11.98%	51.02%
XDQQ Innovator Growth Accelerated ETF - Quarterly	-1.59%	13.75%	9.69%

Correlation

The correlation between NFXL and XDQQ is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.34

Over the past year, the correlation between NFXL and XDQQ has dropped to 0.14 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

NFXL vs. XDQQ - Sectors Allocation Comparison

Sectors	NFXL	XDQQ
Communication Services	100.0%	13.3%
Basic Materials	-	1.0%
Consumer Cyclical	-	10.9%
Consumer Defensive	-	6.5%
Energy	-	0.5%
Financial Services	-	0.2%
Healthcare	-	3.6%
Industrials	-	2.7%
Real Estate	-	0.1%
Technology	-	60.2%
Utilities	-	1.2%

Return for Risk

NFXL vs. XDQQ — 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

XDQQ

XDQQ Risk / Return Rank: 29
XDQQ Sharpe Ratio Rank: 27
XDQQ Sortino Ratio Rank: 26
XDQQ Omega Ratio Rank: 29
XDQQ Calmar Ratio Rank: 27
XDQQ Martin Ratio Rank: 34

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. XDQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bull 2X Shares (NFXL) and Innovator Growth Accelerated ETF - Quarterly (XDQQ). 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	XDQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	0.66	-1.64
Sortino ratio: Return per unit of downside risk	-1.71	0.99	-2.70
Omega ratio: Gain probability vs. loss probability	0.78	1.14	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.89	0.86	-1.75
Martin ratio: Return relative to average drawdown	-1.40	3.44	-4.84

NFXL vs. XDQQ - Sharpe Ratio Comparison

The current NFXL Sharpe Ratio is -0.98, which is lower than the XDQQ Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of NFXL and XDQQ, 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. XDQQ - Drawdown Comparison

The maximum NFXL drawdown since its inception was -80.15%, which is greater than XDQQ's maximum drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for NFXL and XDQQ.

Drawdown Indicators

	NFXL	XDQQ	Difference
Max Drawdown Largest peak-to-trough decline	-80.15%	-35.63%	-44.52%
Max Drawdown (1Y) Largest decline over 1 year	-76.83%	-11.84%	-64.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.63%	—
Current Drawdown Current decline from peak	-76.75%	-4.45%	-72.30%
Average Drawdown Average peak-to-trough decline	-32.23%	-10.57%	-21.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.80%	2.96%	+45.84%

Volatility

NFXL vs. XDQQ - Volatility Comparison

Direxion Daily NFLX Bull 2X Shares (NFXL) has a higher volatility of 21.79% compared to Innovator Growth Accelerated ETF - Quarterly (XDQQ) at 7.30%. This indicates that NFXL's price experiences larger fluctuations and is considered to be riskier than XDQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFXL	XDQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.79%	7.30%	+14.49%
Volatility (6M) Calculated over the trailing 6-month period	55.84%	12.00%	+43.84%
Volatility (1Y) Calculated over the trailing 1-year period	69.89%	15.51%	+54.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.95%	20.04%	+49.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.95%	19.62%	+50.33%

NFXL vs. XDQQ - Expense Ratio Comparison

NFXL has a 1.06% expense ratio, which is higher than XDQQ's 0.79% expense ratio.

Dividends

NFXL vs. XDQQ - Dividend Comparison

NFXL's dividend yield for the trailing twelve months is around 13.45%, while XDQQ has not paid dividends to shareholders.

Position	TTM	2025	2024
NFXL Direxion Daily NFLX Bull 2X Shares	13.45%	7.97%	0.59%
XDQQ Innovator Growth Accelerated ETF - Quarterly	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NFXL and XDQQ in my portfolio?

NFXL and XDQQ have a correlation of 0.14, 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 XDQQ?

NFXL has higher volatility (21.79%) compared to XDQQ (7.30%). In terms of maximum drawdown, NFXL dropped -80.15% vs XDQQ's -35.63%.

Which ETF is better, NFXL or XDQQ?

On 1-year performance, XDQQ leads with 10.17% vs -68.22% for NFXL. On fees, XDQQ is cheaper at 0.79% per year. On volatility, XDQQ has been the lower-risk option at 7.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFXL or XDQQ?

Over the 1-year period, XDQQ has performed better with a 10.17% 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 XDQQ?

XDQQ is cheaper with a 0.79% expense ratio, compared with 1.06% for NFXL.

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

NFXL has the higher dividend yield at 13.45%, compared with 0.00% for XDQQ.

What is the main difference between NFXL and XDQQ?

They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.06% for NFXL and 0.79% for XDQQ.

Which has better risk-adjusted returns?

XDQQ currently has the higher Sharpe Ratio (0.66 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.