Exchange-traded funds with heavy Netflix (NASDAQ:NFLX) exposure are feeling the heat on Wednesday, as shares of the streaming giant tumble. With NFLX representing a significant weighting in many tech-focused funds, declines in the stock are reverberating across the broader ETF market.
Netflix fell 10.1% following its Q3 earnings report, which showed revenue growth in line with expectations but weaker operating income and narrower margins. The company cited an ongoing tax dispute in Brazil as a key factor weighing on profitability, surprising some investors and analysts.
The stock is held in 482 ETFs, which collectively own 70.5 million shares. As NFLX continues to face pressure, these funds are likely to reflect the volatility, underscoring the broader market implications of a single tech giant’s earnings miss.
Outlined below are the top 10 exchange traded funds that have the largest portfolio allocations towards shares of Netflix.
No. 1: T-Rex 2X Long NFLX Daily Target ETF (BATS:NFLU), 70.64% allocation.
No. 2: Roundhill NFLX WeeklyPay ETF (BATS:NFLW), 20.09% allocation.
No. 3: Direxion Daily NFLX Bull 2X Shares (NASDAQ:NFXL) 11.49% allocation.
No. 4: Direxion Daily Dow Jones Internet Bull 3X Shares (NYSEARCA:WEBL), 9.90% allocation.
No. 5: First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN), 9.74% allocation.
No. 6: FT Vest Dow Jones Internet & Target Income ETF (BATS:FDND), 9.74% allocation.
No. 7: Global X PureCap MSCI Communication Services ETF (NYSEARCA:GXPC), 8.53% allocation.
No. 8: YieldMax Dorsey Wright Hybrid 5 Income ETF (NASDAQ:FIVY), 8.48% allocation.
No. 9: SMART Trend 25 ETF (NYSEARCA:STRN), 8.18% allocation.
No. 10: Invesco Next Gen Media and Gaming ETF (NYSEARCA:GGME), 7.95% allocation.
Netflix Price Action
- Wednesday: -10.1%.
- 1-Month: -8.2%.
- 6-Months: +7.7%.
- Year-to-Date: +25.8%.