At a glance
ELIL charges 1.07% a year. It has $18.3M in assets; it paid 9.46% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +96.3% with distributions reinvested (S&P 500: +11.5%).
The short version
Direxion Daily LLY Bull 2X Shares (ELIL), from Rafferty Asset Management, is a leveraged ETF that aims to return twice the daily move of one stock, drugmaker Eli Lilly (LLY), before fees. It resets that leverage daily, so returns over weeks or months can differ sharply from double Lilly's. It charges 1.07% a year and lost 56% between April and August 2025, making it a short-term trading tool rather than a long-term holding.
Price history
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ELIL +96.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ELIL price data to Oct 27, 2026 | +19.4% | +96.3% | — | — | — | +35.7% |
- Over the year to Oct 27, 2026, ELIL returned +96.3%.
- The deepest fall in its price history was 56% (Apr 30, 2025 to Aug 8, 2025), recovered by Nov 11, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +19.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2700 |
What's inside
As of Jul 31, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (87.86% of net assets), with its exposure coming from 4 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| ELI LILLY & COMPANY | 15.09% |
By country
United States 15.09%By asset type
Stocks 15.09%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $11.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +38.00%, +15.84%, -9.61%.
How it works
ELIL does not follow an index. Its goal, per the prospectus filed February 26, 2026, is 200% of Eli Lilly's stock return for a single trading day, before fees and expenses. At least 80% of net assets goes into Lilly shares and instruments that provide that doubled exposure, mainly swap agreements: contracts with major financial institutions that pass Lilly's gains or losses to the fund on an agreed amount of money.
At each market close, the fund resets exposure to 200% of net assets, adding after Lilly rises and cutting back after it falls. Because each day's result compounds, returns over weeks or months will very likely differ from twice Lilly's. The prospectus warns the fund will lose money if Lilly ends flat over time, and could lose money even if Lilly rises.
As of July 31, 2026, 15% of the fund's $18.3 million in net assets sat in Lilly shares and 88% in cash and short-term holdings, alongside four Lilly swaps showing a combined loss equal to 6.8% of net assets. A swap's listed value is its running gain or loss, not the size of the exposure. The fund is non-diversified, meaning it can concentrate in one company, and may rely on few swap partners, so a partner's failure to pay could cause losses.
What it really costs
- ELIL charges 1.07% a year.
- Of that, 0.75% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.24% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $109 in the first year and $1,558 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ELIL | $109 | $392 | $695 | $1,558 |
Structure and tax notes
- Resets its exposure every day. Over periods longer than a day, compounding means returns can differ sharply from 2× the index — usually worse in choppy markets. Built for short-term trading, not buy-and-hold.
In a retirement portfolio
It resets 2x leverage on a single stock every trading day, and its prospectus says it does not aim to deliver twice Lilly's return over any longer period.
ELIL launched in March 2025, so it has no record in the 2008, 2020 or 2022 downturns and no full calendar year of returns. It fell 56% from April 30 to August 8, 2025, then took about three months from that low to regain its peak, on November 11, 2025. It gained 96.3% in the year to October 27, 2026, but with volatility (how widely prices swing) of 68.7%. Someone forced to cash out during a slump like 2025's could lock in a deep loss.
The trailing yield was 9.46% as of October 27, 2026, paid quarterly, though leveraged funds' payouts can swing sharply. The expense ratio is 1.07%; the SEC's standard example puts costs at $109 on $10,000 after one year and $1,558 after ten, assuming 5% yearly returns. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders wanting twice Eli Lilly's daily move for short periods, often a single trading day, who can check the position every session.
- Investors wanting leveraged Lilly exposure without borrowing money themselves, who accept the prospectus warning that they could lose their entire investment.
- Traders with a strong short-term view on Lilly who can absorb drops like the fund's 56% fall between April and August 2025.
Look elsewhere if
- Retirees and long-term savers: daily resets mean returns over years can fall well short of twice Lilly's, and fees run 1.07% a year.
- Anyone wanting diversification: the fund rests on one drugmaker, so a single setback at Eli Lilly hits it roughly twice as hard that day.
- Income seekers: the 9.46% trailing yield (as of October 27, 2026) came alongside a 46.4% peak-to-trough drop within the prior year.
Close alternatives
Matched by leveraged/inverse funds on the same index (the index could not be identified from the name).
No close alternatives found.
Questions investors ask
Is ELIL good for retirement?
It isn't built for it. ELIL's prospectus says it seeks twice Eli Lilly's return for a single trading day, not over longer periods. Because it resets leverage daily, returns over months or years can differ sharply from double Lilly's, and it can lose money even when Lilly rises. It fell 56% between April 30 and August 8, 2025, and has no full calendar year of returns yet, so its long-run behavior is untested.
What's the difference between ELIL and owning LLY stock?
ELIL aims for twice Eli Lilly's daily move, while owning LLY shares tracks the stock one for one. ELIL charges a 1.07% expense ratio, relies mainly on swap contracts with financial institutions, and resets its leverage every trading day, so over months its return can land well above or below double Lilly's. Holding the shares directly carries no ongoing fund fee, no swap counterparty risk and no daily-reset effects, but also no leverage.
Does ELIL pay dividends?
Yes. ELIL pays distributions quarterly, and over the trailing year they totaled $3.16 per share, a yield of 9.46% as of October 27, 2026. That figure can mislead: payouts from leveraged funds can vary widely from year to year, and the share price moves far more than the payout. ELIL's one-year volatility, a measure of how widely its price swings, was 68.7%, and it had a 46.4% peak-to-trough drop in the year to October 27, 2026.
Why doesn't ELIL return 2x Eli Lilly over time?
Because it resets every day. ELIL targets 200% of Lilly's return for one trading day, then rebalances at the close. Each day's gain or loss compounds on a new starting point. In a choppy market, a drop followed by an equal-percentage rise leaves a fund below where it began, and leverage magnifies that drag. The prospectus says ELIL will lose money if Lilly ends flat over time and may lose money even if Lilly rises.
What is ELIL's expense ratio?
ELIL's expense ratio is 1.07%, according to its prospectus filed February 26, 2026. That includes a 0.75% management fee and reflects a 0.24% fee waiver. Under the SEC's standard example, which assumes $10,000 invested, a 5% yearly return and shares redeemed at the end of each period, total costs would be about $109 after one year, $392 after three, $695 after five and $1,558 after ten.