NFXL vs. YSPY

Last updated Jun 25, 2026

NFXL (Direxion Daily NFLX Bull 2X Shares) and YSPY (GraniteShares YieldBOOST SPY ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, NFXL returned -74.79% vs 18.66% for YSPY. At a 0.26 correlation, their price movements are largely independent. NFXL charges 1.06%/yr vs 1.07%/yr for YSPY.

Performance

NFXL vs. YSPY - Performance Comparison

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

Returns By Period

In the year-to-date period, NFXL achieves a -47.61% return, which is significantly lower than YSPY's 2.50% return.

NFXL

• 1D: -2.46%
• 1M: -35.26%
• YTD: -47.61%
• 6M: -47.54%
• 1Y: -74.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YSPY

• 1D: -0.15%
• 1M: -2.38%
• YTD: 2.50%
• 6M: -0.06%
• 1Y: 18.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NFXL vs. YSPY - Yearly Performance Comparison

	2026 (YTD)	2025
NFXL Direxion Daily NFLX Bull 2X Shares	-47.61%	-24.49%
YSPY GraniteShares YieldBOOST SPY ETF	2.50%	8.36%

Correlation

The correlation between NFXL and YSPY is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	0.26

The correlation between NFXL and YSPY shifts across timeframes, from 0.16 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NFXL vs. YSPY — 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: 0
NFXL Omega Ratio Rank: 0
NFXL Calmar Ratio Rank: 1
NFXL Martin Ratio Rank: 1

YSPY

YSPY Risk / Return Rank: 30
YSPY Sharpe Ratio Rank: 29
YSPY Sortino Ratio Rank: 25
YSPY Omega Ratio Rank: 36
YSPY Calmar Ratio Rank: 28
YSPY Martin Ratio Rank: 34

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. YSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bull 2X Shares (NFXL) and GraniteShares YieldBOOST SPY ETF (YSPY). 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	YSPY	Difference
Sharpe ratio: Return per unit of total volatility	-1.11	0.98	-2.09
Sortino ratio: Return per unit of downside risk	-2.22	1.28	-3.50
Omega ratio: Gain probability vs. loss probability	0.72	1.22	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.97	1.28	-2.26
Martin ratio: Return relative to average drawdown	-1.52	4.68	-6.21

NFXL vs. YSPY - Sharpe Ratio Comparison

The current NFXL Sharpe Ratio is -1.11, which is lower than the YSPY Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of NFXL and YSPY, 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. YSPY - Drawdown Comparison

The maximum NFXL drawdown since its inception was -77.02%, which is greater than YSPY's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for NFXL and YSPY.

Drawdown Indicators

	NFXL	YSPY	Difference
Max Drawdown Largest peak-to-trough decline	-77.02%	-18.74%	-58.28%
Max Drawdown (1Y) Largest decline over 1 year	-77.02%	-14.60%	-62.42%
Current Drawdown Current decline from peak	-77.02%	-3.30%	-73.72%
Average Drawdown Average peak-to-trough decline	-29.44%	-4.90%	-24.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.10%	3.99%	+45.11%

Volatility

NFXL vs. YSPY - Volatility Comparison

Direxion Daily NFLX Bull 2X Shares (NFXL) has a higher volatility of 15.90% compared to GraniteShares YieldBOOST SPY ETF (YSPY) at 3.12%. This indicates that NFXL's price experiences larger fluctuations and is considered to be riskier than YSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFXL	YSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.90%	3.12%	+12.78%
Volatility (6M) Calculated over the trailing 6-month period	50.68%	13.86%	+36.82%
Volatility (1Y) Calculated over the trailing 1-year period	67.49%	19.23%	+48.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.33%	20.97%	+48.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.33%	20.97%	+48.36%

NFXL vs. YSPY - Expense Ratio Comparison

NFXL has a 1.06% expense ratio, which is lower than YSPY's 1.07% expense ratio.

Dividends

NFXL vs. YSPY - Dividend Comparison

NFXL's dividend yield for the trailing twelve months is around 13.61%, less than YSPY's 56.52% yield.

Position	TTM	2025	2024
NFXL Direxion Daily NFLX Bull 2X Shares	13.61%	7.97%	0.59%
YSPY GraniteShares YieldBOOST SPY ETF	56.52%	45.57%	0.00%

Frequently Asked Questions

Can I hold both NFXL and YSPY in my portfolio?

NFXL and YSPY 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 YSPY?

NFXL has higher volatility (15.90%) compared to YSPY (3.12%). In terms of maximum drawdown, NFXL dropped -77.02% vs YSPY's -18.74%.

Which ETF is better, NFXL or YSPY?

On 1-year performance, YSPY leads with 18.66% vs -74.79% for NFXL. On fees, NFXL is cheaper at 1.06% per year. On volatility, YSPY has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFXL or YSPY?

Over the 1-year period, YSPY has performed better with a 18.66% return vs -74.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFXL or YSPY?

NFXL is cheaper with a 1.06% expense ratio, compared with 1.07% for YSPY.

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

YSPY has the higher dividend yield at 56.52%, compared with 13.61% for NFXL.

What is the main difference between NFXL and YSPY?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.06% for NFXL and 1.07% for YSPY.

Which has better risk-adjusted returns?

YSPY currently has the higher Sharpe Ratio (0.98 vs -1.11), 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.