ETF Evaluator:
Direxion Daily FTSE Europe Bull 3X ETF (EURL)
Follow This ETF
(as of Sep 02)
Best Performing in Trading--Leveraged Equity Over the Last Year
| 2567.1% | Direxion Daily MU Bull 2X Shares (MUU) |
| 2419.7% | GraniteShares 2x Long MU Daily ETF (MULL) |
| 933.4% | GraniteShares 2x Long INTC Daily ETF (INTW) |
| 476.7% | GraniteShares 2x Long DELL Daily ETF (DLLL) |
| 358.1% | Direxion Daily Semicondct Bull 3X ETF (SOXL) |
Risk
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Risk
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ETF Details
Direxion Daily FTSE Europe Bull 3X ETF Overview
Direxion Daily FTSE Europe Bull 3X ETF (EURL) is a passively managed Miscellaneous Trading--Leveraged Equity exchange-traded fund (ETF). Direxion Funds launched the ETF in 2014.
The investment seeks daily investment results, before fees and expenses, of 300% of the daily performance of the FTSE Developed Europe All Cap Index.
The fund invests at least 80% of its net assets in financial instruments, such as swap agreements, securities of the index, and ETFs that track the index, that, in combination, provide 3X daily leveraged exposure to the index, consistent with the fund's investment objective. The index is a market capitalization weighted index that is designed to measure the equity market performance of large-, mid- and small-cap companies in developed European markets. The fund is non-diversified.
About Direxion Daily FTSE Europe Bull 3X ETF (EURL)
There are 2 members of the management team with an average tenure of 11.69 years: Tony Ng (2015) and Paul Brigandi (2014). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and FTSE Developed Europe All Cap NR USD index with a weighting of 300%. Direxion Daily FTSE Europe Bull 3X ETF has 14 securities in its portfolio. The top 10 holdings constitute 115.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Direxion Daily FTSE Europe Bull 3X ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Direxion Daily FTSE Europe Bull 3X ETF has 51.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.2% There is 51.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Direxion Daily FTSE Europe Bull 3X ETF has 48.0% of the portfolio in cash.
Assets Under Management
The fund has $53 million in total assets, which is below the $251 million average for the Trading--Leveraged Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EURL Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Direxion Daily FTSE Europe Bull 3X ETF expense ratio is high compared to funds in the Trading--Leveraged Equity category. Direxion Daily FTSE Europe Bull 3X ETF has an expense ratio of 1.04%, which is 9% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Direxion Daily FTSE Europe Bull 3X ETF has a portfolio turnover rate of 41%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 396% for the Trading--Leveraged Equity category.
Recently, in the month of July 2026, Direxion Daily FTSE Europe Bull 3X ETF returned 5.6%, which earned it a grade of A, as the Trading--Leveraged Equity category had an average return of -18.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Direxion Daily FTSE Europe Bull 3X ETF has a trailing yield of 1.51%, which is below the 5.84% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Direxion Daily FTSE Europe Bull 3X ETF Grades
Year to date, the ETF has returned 19.5%, 15.7 percentage points better than the category, which translates into a grade of B. The fund has returned 57.2% over the past year (grade of B), 29.8% over the past three years (grade of B) and 7.6% per year over the past five years (grade of C) and 10.8% per year over the past 10 years (grade of C).
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EURL Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EURL Return (NAV) | 5.6% | 11.5% | 57.2% | 29.8% | 7.6% | 10.8% |
| EURL Return (Price) | 5.8% | 11.4% | 57.4% | 29.9% | 7.6% | 10.8% |
| NAV +/- Price Return | -0.149% | 0.104% | -0.236% | -0.068% | -0.023% | -0.038% |
| Trading--Leveraged Equity Avg | -18.2% | -10.8% | 47.2% | 18.3% | 6.2% | 9.2% |
| EURL Grade (NAV) | A | B | B | B | C | C |
| +/- Category (NAV) | 23.8% | 22.4% | 9.9% | 11.5% | 1.4% | 1.5% |
| EURL Tax-Cost Ratio | na | na | 0.7% | 1.0% | 0.8% | 0.6% |
EURL Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EURL Return (NAV) | 19.5% | 106.3% | -11.5% | 44.1% | -54.3% | 46.9% | -23.8% | 72.9% | -46.3% | 91.0% | -17.6% |
| EURL Return (Price) | 20.1% | 105.7% | -11.4% | 44.1% | -54.4% | 46.6% | -23.3% | 72.6% | -46.4% | 91.3% | -17.8% |
| NAV +/- Price Ret | 0.028% | -0.005% | -0.008% | 0.000% | 0.002% | -0.008% | -0.020% | -0.4% | 0.1% | 0.3% | 0.7% |
| Trading--Leveraged Equity Avg | 3.8% | 41.3% | 29.5% | 62.2% | -36.7% | 45.0% | 6.2% | 64.1% | -31.9% | 61.0% | 29.3% |
| EURL Grade (NAV) | B | A | F | C | D | C | D | B | F | B | F |
| +/- Category | 15.7% | 65.0% | -41.0% | -18.0% | -17.6% | 2.0% | -30.0% | 8.8% | -14.5% | 30.1% | -46.9% |
| Risk Measures | |
| Beta: | 1.99 |
| R-Squared: | 41% |
| Standard Deviation: | 40.7% |
| Category Risk Index: | 0.77 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 3.31 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 1.5% |
| Total Assets: | $ 54 Mil |
| Share Class Assets: | $ 54 Mil |
| Turnover: | 41.0% |
| Expense Ratio: | 1.04% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.5 years | |||
| Average Tenure: 11.7 years | |||
| Managers (Year): Brigandi Paul (2014), Ng Tony (2015) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 14 |
| % in Top 10 Holdings: | 115.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 51.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.2% |
| Foreign Stock: | 51.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 48.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Direxion Funds |
| Phone Number: | 866-476-7523 |
| Website: | http://www.direxioninvestments.com/ |
| Inception Date: | January 22, 2014 |
Expenses and Fees
| Expense Ratio (%): | 1.04% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
