Direxion Daily NFLX Bull 2X ETF (NFXL)

The Direxion Daily NFLX Bull 2X ETF (NFXL) is a single-stock leveraged ETF from Direxion. It seeks daily investment results, before fees and expenses, of 200% (two times) the daily percentage change in the share price of Netflix, Inc.

Netflix, based in Los Gatos, California, operates a subscription streaming service offering films, series, games and other entertainment to members around the world. The fund generally obtains its leveraged exposure through swap agreements with financial institutions and may also hold shares of the stock directly, keeping the balance of its assets in cash and short-term instruments.

Because the leverage resets every trading day, the fund targets daily returns only. Over periods longer than one day its performance can differ significantly from twice the return of the underlying stock, especially when the stock is volatile.