# Leverage Shares 2x Netflix ETP (2NFL)

**Page:** https://fundology.uk/fund/2nfl · ISIN IE00BD09ZW40

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, 2NFL (Leverage Shares 2x Netflix ETP, ISIN IE00BD09ZW40) closed at £18.10 on the London Stock Exchange. Its ongoing charge is 2.28% a year (about £228 on £10,000). Over the five years to 13/11/2026 its total return was −76.8%, or −81.9% after UK CPIH inflation.

## Summary

Leverage Shares 2x Netflix ETP is an exchange-traded product from Leverage Shares, launched in 2017. It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 2.28% a year — about £228 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

> **Leveraged & inverse:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started.

Latest close: **£18.10** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 2NFL |
| ISIN | IE00BD09ZW40 |
| Also listed as | NFL2 (London Stock Exchange, US dollars), NFLE (London Stock Exchange, euros) |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | Leverage Shares |
| Tracks | NYSE Leveraged 2x NFLX Index |
| Income | Accumulating |
| Ongoing charge | 2.28% a year (£228 per £10,000) |
| Fund size | £924k |
| Launched | 2017 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/07/2025 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -74.30% | -75.21% | income reinvested |
| 3 years | +7.86% | -2.55% | income reinvested |
| 5 years | -76.77% | -81.87% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Leverage Shares 2x Netflix ETP in pounds (price, with income reinvested in the fund): 2023 +115.2%, 2024 +185.3%, 2025 −22.2%; 2026 to 13/11/2026 −60.4%. Returns of Leverage Shares 2x Netflix ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −70.1%; to 30/09/2025: +118.1%; to 30/09/2024: +165.3%; to 30/09/2023: +73.9%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2023 | +115.2% | +106.7% | Price |
| 2024 | +185.3% | +175.6% | Price |
| 2025 | -22.2% | -24.9% | Price |
| 2026 to 13/11/2026 | -60.4% | -61.7% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 73.08% | -75.07% |
| 3 years | 70.77% | -82.94% |

## Largest fall

Volatility of Leverage Shares 2x Netflix ETP in pounds, annualised from weekly returns to 13/11/2026: 73.1% over 1 year, 70.8% over 3 years. Largest fall in the price of Leverage Shares 2x Netflix ETP since April 2022, in pounds: −82.9% from 27/06/2025 to 30/10/2026. The lowest 12-month return of Leverage Shares 2x Netflix ETP in pounds (price, with income reinvested in the fund) since April 2022 was −75.6% (12 months to 30/10/2026); the highest was +356.0% (12 months to 16/06/2023). On 13/11/2026 the price of Leverage Shares 2x Netflix ETP was 82.8% below its highest weekly close since April 2022 (27/06/2025), in pounds.

## Charges compared with similar funds

Ongoing charge of Leverage Shares 2x Netflix ETP 2.28% a year. Compared on 14/11/2026, 83 of the 210 other leveraged and inverse products charge more, 12 the same and 115 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **2.28%** per year (as of 14/10/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## Questions people ask

**What is the ongoing charge of 2NFL?**

The ongoing charge of 2NFL is 2.28% a year — about £228 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Leverage Shares 2x Netflix ETP 2.28% a year. Compared on 14/11/2026, 83 of the 210 other leveraged and inverse products charge more, 12 the same and 115 less (share classes counted once).

**What does 2NFL track?**

2NFL tracks the NYSE Leveraged 2x NFLX Index.

**Is 2NFL accumulating or distributing?**

2NFL is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of 2NFL?**

The ISIN of 2NFL is IE00BD09ZW40. An ISIN identifies one exact share class of a fund; 2NFL is its ticker on the London Stock Exchange. The same share class is also listed as NFL2 (London Stock Exchange, US dollars) and NFLE (London Stock Exchange, euros).

**What were 2NFL’s returns in each of the last five years?**

Calendar-year returns of 2NFL in pounds (price, with income reinvested in the fund): 2023 +115.2%, 2024 +185.3%, 2025 −22.2%; 2026 to 13/11/2026 −60.4%. Past performance is not a guide to future returns.

**How has 2NFL done after inflation?**

Over the five years to 13/11/2026 2NFL’s total return was −76.8%, or −81.9% after UK CPIH inflation. Past performance is not a guide to future returns.

---

We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments.

Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.