XDQQ vs. NFXL

Last updated Aug 4, 2026

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

Performance

XDQQ vs. NFXL - Performance Comparison

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

Returns By Period

In the year-to-date period, XDQQ achieves a -1.59% return, which is significantly higher than NFXL's -46.98% return.

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%

NFXL

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

*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

XDQQ vs. NFXL - Yearly Performance Comparison

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

Correlation

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

XDQQ vs. NFXL - Sectors Allocation Comparison

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

Return for Risk

XDQQ vs. NFXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

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

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

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.

XDQQ vs. NFXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated ETF - Quarterly (XDQQ) and Direxion Daily NFLX Bull 2X Shares (NFXL). 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.

	XDQQ	NFXL	Difference
Sharpe ratio: Return per unit of total volatility	0.66	-0.98	+1.64
Sortino ratio: Return per unit of downside risk	0.99	-1.71	+2.70
Omega ratio: Gain probability vs. loss probability	1.14	0.78	+0.35
Calmar ratio: Return relative to maximum drawdown	0.86	-0.89	+1.75
Martin ratio: Return relative to average drawdown	3.44	-1.40	+4.84

XDQQ vs. NFXL - Sharpe Ratio Comparison

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

XDQQ vs. NFXL - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

XDQQ vs. NFXL - Volatility Comparison

The current volatility for Innovator Growth Accelerated ETF - Quarterly (XDQQ) is 7.30%, while Direxion Daily NFLX Bull 2X Shares (NFXL) has a volatility of 21.79%. This indicates that XDQQ experiences smaller price fluctuations and is considered to be less risky than NFXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

XDQQ vs. NFXL - Expense Ratio Comparison

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

Dividends

XDQQ vs. NFXL - Dividend Comparison

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

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 XDQQ and NFXL in my portfolio?

XDQQ and NFXL 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, XDQQ or NFXL?

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

Which ETF is better, XDQQ or NFXL?

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, XDQQ or NFXL?

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, XDQQ or NFXL?

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

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

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

What is the main difference between XDQQ and NFXL?

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

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.