At a glance
NFLU charges 1.05% a year. It has $33.1M in assets; it paid 0.03% of its price in distributions over the past 12 months, annual. Over the past year it returned −74.9% with distributions reinvested (S&P 500: +11.5%).
The short version
T-Rex 2X Long NFLX Daily Target ETF (NFLU), from Tuttle Capital Management, aims to deliver twice the daily return of Netflix stock (NFLX), mainly through swap contracts with financial institutions. It may appeal to traders seeking a magnified one-day bet on Netflix. Its exposure resets daily, so longer-term results can stray far from twice Netflix's move; it charges 1.05% a year and lost 74.9% in the year to October 27, 2026.
Price history
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NFLU -74.9% 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 | |
|---|---|---|---|---|---|---|
| NFLU price data to Oct 27, 2026 | -64.3% | -74.9% | — | — | — | -30.5% |
- Over the year to Oct 27, 2026, NFLU returned -74.9%.
- Its worst full calendar year was 2025 (-12.5%); its best was 2025 (-12.5%).
- The deepest fall in its price history was 84.4% (Jun 30, 2025 to Oct 27, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -64.3% |
| 2025 | -12.5% |
| 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) | $0.0040 |
What's inside
As of Aug 31, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (0% of net assets), with its exposure coming from 2 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight |
|---|
By country
By asset type
What changed recently
- Over the three months to Aug 31, 2026, investors added a net $5.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -32.70%, -1.66%, +25.24%.
How it works
NFLU does not track an index. It aims for 200% of Netflix stock's (NFLX) daily return, before fees and expenses, one trading day at a time. It gets that exposure mainly through swap agreements: contracts in which a financial institution pays the fund the return on Netflix stock worth 200% of its net assets. The adviser may also use call options (the right to purchase shares at a set price), including customized FLEX options listed on the Chicago Board Options Exchange, or hold Netflix shares, which add no leverage. Cash sits in money market funds and high-quality short-term debt. As of August 31, 2026, its holdings report showed two total return swaps on Netflix.
At each market close, the adviser resets exposure to 2x, adding after Netflix rises and cutting after it falls. A "day" runs from close to close, so shares purchased midday carry a different multiple. Over longer periods, these daily returns compound and are very likely to stray from twice Netflix's return, usually falling short when Netflix's price zigzags.
The prospectus warns that if Netflix falls more than 50% in one day, shareholders would lose everything. The fund is non-diversified, meaning it can concentrate in a single company, and depends on the institutions on the other side of its swaps paying what they owe.
What it really costs
- NFLU charges 1.05% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $107 in the first year and $1,283 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| NFLU | $107 | $334 | $579 | $1,283 |
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
Its prospectus says it seeks twice Netflix's return for a single trading day only, and its daily reset makes results over longer holding periods unpredictable.
NFLU launched on September 27, 2024, so it has no record through the 2008, 2020 or 2022 market downturns. Its own short history is harsh. Its only full calendar year, 2025, ended down 12.5%, and it lost another 64.3% in 2026 through October 27. From a peak on June 30, 2025, it dropped 84.4% by October 27, 2026, with no recovery as of that date. Someone drawing on these shares for living costs after a fall like that would lock in most of the loss. It pays almost no income: the yield over the prior 12 months was 0.03% as of October 27, 2026, paid annually. It charges 1.05% a year; the SEC's standard example puts costs at $1,283 over 10 years on $10,000 earning 5% a year.
Past results don't predict future returns, 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 a magnified one-day bet that Netflix stock will rise and who track their position every trading day.
- People who understand daily-reset leverage and accept the prospectus warning that a one-day Netflix drop over 50% would erase their entire investment.
- Traders willing to pay 1.05% a year for 2x daily Netflix exposure without borrowing money or trading options themselves.
Look elsewhere if
- Retirees and long-term savers: the fund lost 74.9% in the year to October 27, 2026, and sat 84.4% below its June 2025 peak.
- Income seekers: its yield over the prior 12 months was just 0.03% as of October 27, 2026, paid once a year.
- Anyone wanting long-term Netflix exposure; owning shares directly avoids the daily reset, the 1.05% annual fee and the risk of a swap partner defaulting.
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 NFLU a good long-term investment?
It isn't designed to be one. NFLU seeks 200% of Netflix's daily return, and its prospectus says it does not aim for that over any period longer than one trading day. Because exposure resets daily, longer-term results can drift far from twice Netflix's move. As of October 27, 2026, the fund had lost 74.9% over one year and sat 84.4% below its June 30, 2025 peak. Its annualized volatility, a measure of how widely prices swing, was 72% over that year.
Does NFLU pay dividends?
Barely. NFLU's yield over the prior 12 months was 0.03% as of October 27, 2026, or about $0.004 per share, and it pays on an annual schedule. The fund holds swaps on Netflix plus cash-like short-term investments, and its return comes almost entirely from price changes driven by that 2x daily exposure. It offers little for anyone who needs regular income from an investment.
Can you lose all your money in NFLU?
Yes. The prospectus states that if Netflix stock moves more than 50% against the fund in a single trading day, investors would lose all of their money, because the fund's 2x daily exposure doubles that loss. Heavy losses can also pile up over time: the fund fell 84.4% between June 30, 2025 and October 27, 2026. The prospectus also lists counterparty risk, the chance that a financial institution on the other side of its swaps fails to pay.
NFLU vs owning Netflix stock: what's the difference?
Owning Netflix shares gives one-for-one exposure that can be held for years with no fund fee. NFLU aims for twice Netflix's daily move, mainly through swap agreements, resets its exposure every day and charges 1.05% a year. Over one trading day, NFLU aims to move about twice as much as the stock. Over months, compounding can pull its results far from 2x, usually for the worse when Netflix's price swings up and down. NFLU also adds the risk that a swap partner fails to pay.
What is NFLU's expense ratio?
NFLU's expense ratio is 1.05% a year, made up entirely of its management fee, according to the prospectus filed December 29, 2025. The SEC's standard example assumes $10,000 invested, a 5% yearly return and shares cashed out at the end of each period. On that basis, total costs come to $107 after one year, $334 after three years, $579 after five and $1,283 after 10. The fund's issuer is Tuttle Capital Management, and it had about $33.1 million in net assets as of August 31, 2026.