At a glance
MAGX charges 0.95% a year. It has $47.9M in assets; it paid 1.94% of its price in distributions over the past 12 months, annual. Over the past year it returned +1.7% with distributions reinvested (S&P 500: +11.5%).
The short version
Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) is a leveraged fund. It aims to deliver twice the daily return of the Roundhill Magnificent Seven ETF (MAGS), which holds equal stakes in Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA and Tesla. Its 2X target resets every trading day, so results over longer periods can drift far from double MAGS's return. The fund charges 0.95% a year.
Price history
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MAGX +1.7% 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 | |
|---|---|---|---|---|---|---|
| MAGX official prospectus, to Dec 31, 2025 | — | +28.38% | — | — | — | +59.04% |
| Index3 index, same period | — | +22.52% | — | — | — | +18.88% |
| MAGX price data to Oct 27, 2026 | +5.7% | +1.7% | — | — | — | +25.3% |
- Over the year to Oct 27, 2026, MAGX returned +1.7%.
- The deepest fall in its price history was 37.2% (Oct 29, 2025 to Mar 30, 2026), recovered by May 14, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +5.7% | — |
| 2025 | — | +28.38% |
| 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
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jun 30, 2026, the fund held 2 securities; the ten largest made up 94.96% of assets, and 22.91% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 57.38% | |
| Roundhill Magnificent Seven ETF | 37.59% |
By country
United States 94.96%By issuer
US Treasury 57.38%Other registered funds 37.59%The bonds mature in 0 years on average (weighted by size), with an average coupon of 0%.
Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $14.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +29.23%, +13.00%, -18.32%.
How it works
MAGX has one goal: to return two times the daily performance of the Magnificent Seven ETF (MAGS), before fees, measured from one market close to the next. MAGS is an actively managed ETF, also run by Roundhill Financial. It holds the seven stocks commonly called the "Magnificent Seven" and gives them equal weights each time it rebalances. As of March 31, 2026, those stocks were Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA and Tesla. The list may change if different companies come to be seen as the Magnificent Seven.
To get double exposure, MAGX buys MAGS shares directly and uses derivatives. These are mainly swap agreements, which are contracts where another party pays the fund the return of an asset. As of June 30, 2026, the fund had $47.9 million in net assets. About 57% was in US Treasury bills, about 38% was in MAGS shares, and the rest of the exposure came from two swap contracts on MAGS.
At each market close, Roundhill adjusts the fund's exposure. It adds exposure after an up day and cuts it after a down day. Because of this daily reset, returns compound day by day. Over weeks or months, results will very likely differ from 2X the return of MAGS. The fund can even lose money while MAGS rises, especially when markets swing a lot. MAGX is non-diversified and concentrated in the information technology sector.
What it really costs
- MAGX charges 0.95% a year.
- The fee includes a 0.03% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $96 in the first year and $1,155 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| MAGX | $96 | $300 | $520 | $1,155 |
In a retirement portfolio
MAGX targets twice the return of MAGS for a single day only, so its results over months or years can stray far from what a long-term holder might expect.
MAGX launched on February 29, 2024, so it has no record from the 2008, 2020 or 2022 downturns. Its own short history shows how sharply it can move. It lost 30.87% in the first quarter of 2025 and gained 54.83% in the third quarter. It then fell 37.2% from October 29, 2025 to March 30, 2026. It got back to its old peak by May 14, 2026, but anyone who had to sell near the low would have locked in a deep loss. Its volatility was 44.9% for the year to October 27, 2026. It paid $1.17 per share over the prior 12 months, a 1.94% yield, in one annual payment. It costs 0.95% a year. Past results don't predict the future, and a retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders who want twice the one-day move of an equal-weighted basket of Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA and Tesla.
- Investors who check their positions daily and understand that the 2X target resets at every market close.
- Traders who want leveraged Magnificent Seven exposure without using a margin account, and who accept a 0.95% expense ratio.
Look elsewhere if
- Retirees and long-term holders: compounding can make multi-month results differ sharply from twice MAGS's return, and they can be negative even when MAGS rises.
- Anyone who needs steady income: the trailing yield was 1.94% as of October 27, 2026, paid in a single annual distribution.
- Investors who want diversification: the fund is non-diversified, tied to seven stocks, and fell 37.2% between October 2025 and March 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Is MAGX good for long-term investing?
MAGX isn't designed for long-term holding. Its prospectus says it seeks twice the daily return of the Roundhill Magnificent Seven ETF (MAGS), for a single trading day only. Its exposure resets each day, so returns over longer periods compound and will very likely differ from 2X MAGS. The prospectus warns that the fund can lose money even when MAGS rises over time. It also fell 37.2% from October 29, 2025 to March 30, 2026.
What's the difference between MAGX and MAGS?
MAGS gives exposure to the seven Magnificent Seven stocks in equal weights. MAGX aims for twice MAGS's daily return. Roundhill runs both. MAGX gets its leverage by owning MAGS shares and swap contracts on MAGS. As of June 30, 2026, MAGS shares made up about 38% of its assets and US Treasury bills about 57%. Leverage magnifies both gains and losses, and the daily reset can push MAGX's multi-month returns well away from double MAGS's.
Does MAGX pay dividends?
Yes, but only once a year and not much. MAGX paid $1.17 per share over the 12 months to October 27, 2026, a trailing yield of 1.94%. The fund is built for short-term leveraged exposure, so its distributions are a small part of the story. Its price swings matter far more: its volatility was 44.9% over the year to October 27, 2026.
What stocks are in MAGX?
As of June 30, 2026, MAGX didn't hold the seven stocks directly. It owned shares of the Roundhill Magnificent Seven ETF (MAGS), about 38% of assets, and US Treasury bills, about 57%. Swaps on MAGS supplied the rest of its 2X exposure. As of March 31, 2026, MAGS held Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA and Tesla, equally weighted at each rebalance.
How much does MAGX cost?
MAGX has a 0.95% expense ratio, according to its prospectus filed April 30, 2026. The SEC's standard example assumes $10,000 invested with a 5% annual return. On that basis, costs would be about $96 in the first year, $300 over three years, $520 over five years and $1,155 over ten. Separate from fees, the fund's daily rebalancing can also reduce returns for anyone holding it longer than a single day.