ETF Evaluator:
Roundhill Daily 2X Lon Mag Sev ETF (MAGX)
Follow This ETF
(as of Sep 03)
Best Performing in Trading--Leveraged Equity Over the Last Year
| 2567.1% | Direxion Daily MU Bull 2X Shares (MUU) |
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ETF Details
Roundhill Daily 2X Lon Mag Sev ETF Overview
Roundhill Daily 2X Lon Mag Sev ETF (MAGX) is an actively managed Miscellaneous Trading--Leveraged Equity exchange-traded fund (ETF). Roundhill Investments launched the ETF in 2024.
The investment seeks daily investment results, before fees and expenses, of 200% of the daily performance of the Magnificent Seven Basket.
The fund is an actively managed ETF that seeks,as its investment objective,the growth of capital. In seeking to achieve its investment objective,the fund will invest directly in shares of the fund and in derivatives instruments,such as swap agreements and futures contracts,that provide exposure to the returns of the fund. The fund is non-diversified.
About Roundhill Daily 2X Lon Mag Sev ETF (MAGX)
There are 7 members of the management team with an average tenure of 1.92 years: William Hershey (2025), Andrew Serowik (2024), Timothy Maloney (2025), Gabriel Tan (2024), Todd Alberico (2024), Brian Cooper (2024) and David Mazza (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Solactive GBS Glb Mar All Cap USD TR index with a weighting of 200%. Roundhill Daily 2X Lon Mag Sev ETF has 7 securities in its portfolio. The top 10 holdings constitute 257.4% 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.
Roundhill Daily 2X Lon Mag Sev ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Roundhill Daily 2X Lon Mag Sev ETF has 0.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 38.3% There is 0.1% 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). Roundhill Daily 2X Lon Mag Sev ETF has -91.8% of the portfolio in cash.
Assets Under Management
The fund has $56 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.
MAGX 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 Roundhill Daily 2X Lon Mag Sev ETF expense ratio is high compared to funds in the Trading--Leveraged Equity category. Roundhill Daily 2X Lon Mag Sev ETF has an expense ratio of 0.95%, which is the same as its category average, making the fund expense ratio grade a C. 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. Roundhill Daily 2X Lon Mag Sev ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 396% for the Trading--Leveraged Equity category.
Recently, in the month of July 2026, Roundhill Daily 2X Lon Mag Sev ETF returned 3.9%, 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.
Roundhill Daily 2X Lon Mag Sev ETF has a trailing yield of 2.20%, which is below the 5.84% category average.
The fund normally distributes its income annually and its capital gains annually.
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.
Roundhill Daily 2X Lon Mag Sev ETF Grades
Year to date, the ETF has returned -7.3%, 11.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 15.3% over the past year (grade of C).
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MAGX 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 |
|
| MAGX Return (NAV) | 3.9% | -4.1% | 15.3% | na | na | na |
| MAGX Return (Price) | 3.5% | -4.2% | 15.4% | na | na | na |
| NAV +/- Price Return | 0.419% | 0.145% | -0.135% | na | na | na |
| Trading--Leveraged Equity Avg | -18.2% | -10.8% | 47.2% | 18.3% | 6.2% | 9.2% |
| MAGX Grade (NAV) | A | C | C | na | na | na |
| +/- Category (NAV) | 22.1% | 6.8% | -31.9% | na | na | na |
| MAGX Tax-Cost Ratio | na | na | 1.0% | na | na | na |
MAGX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MAGX Return (NAV) | -7.3% | 27.0% | na | na | na | na | na | na | na | na | na |
| MAGX Return (Price) | -7.4% | 26.9% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.012% | -0.004% | na | na | na | na | na | na | na | na | na |
| 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% |
| MAGX Grade (NAV) | C | C | na | na | na | na | na | na | na | na | na |
| +/- Category | -11.1% | -14.3% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 2.2% |
| Total Assets: | $ 56 Mil |
| Share Class Assets: | $ 56 Mil |
| Turnover: | na |
| Expense Ratio: | 0.95% |
| Index Fund: | No |
| Index Tracked: | Solactive GBS Glb Mar All Cap USD TR |
| Index Weighting: | 200% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 7 | |||
| Longest Tenure: 2.4 years | |||
| Average Tenure: 1.9 years | |||
| Managers (Year): Tan Gabriel (2024), Alberico Todd (2024), Cooper Brian (2024), Serowik Andrew (2024), Maloney Timothy (2025), Hershey William (2025), Mazza David (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 7 |
| % in Top 10 Holdings: | 257.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.1% |
Portfolio Allocation |
|
| Domestic Stock: | 38.3% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 153.5% |
| Cash: | -91.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Roundhill Investments |
| Phone Number: | 855-561-5728 |
| Website: | |
| Inception Date: | February 28, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.95% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
