Key Highlights

  • Lilly Bull 2X ETF (NASDAQ:ELIL) was quoted up 6.48% at USD 35.00 on October 22, 2026, which implies roughly 3.2% for Eli Lilly shares before fees, simple arithmetic dividing the fund move by two.
  • Eli Lilly reports third quarter results on October 29, 2026. Second quarter Revenue was USD 22.97 billion, up 48%, driven largely by Mounjaro and Zepbound.
  • Phase 3 retatrutide trials showed average weight loss of 22.6% over 80 weeks in one study and up to 28.3% in non-diabetic patients at the highest dose, with an FDA submission planned for the first quarter of 2027.
  • Lilly Bull 2X ETF (NASDAQ:ELIL) is issued by Direxion, trades on Nasdaq, started on March 26, 2025, carries a published 1.07% expense ratio and held about USD 25.60 million in assets.

Lilly's Fundamentals

Eli Lilly (NYSE:LLY) reported second quarter 2026 revenue of USD 22.97 billion, up 48% from a year earlier, led by Mounjaro and Zepbound. The stock traded near USD 1,268 on October 21, 2026, within a 52-week range of USD 793.82 to USD 1,311.75, according to published data, and recently hit a record before slipping. The Investment case rests on the obesity and diabetes franchise, where Demand has exceeded Supply and the company has invested heavily in manufacturing. Third quarter results on October 29, 2026 will show whether growth and margins continue, and whether guidance is lifted again as it was earlier in the year. Supply remains a focus.

Retatrutide and the Latest Move

Retatrutide is a once-weekly injection targeting three hormone receptors, compared with two for Zepbound. Phase 3 studies showed average weight loss of 22.6% over 80 weeks in patients with obesity and cardiovascular disease, up to 20.8% in patients with type 2 diabetes and 28.3% in non-diabetic patients at the highest dose. The TRIUMPH-3 study did not establish whether it reduces major cardiovascular events. Lilly plans an FDA submission in the first quarter of 2027. No company release explains the latest gain, which coincided with a broad rally in large Growth Stocks as the Nasdaq Composite rose 1.05% on October 21. Safety data will also matter.

How the 2x ETF Connects

The fund is issued by Direxion, with Rafferty Asset Management as adviser, lists on Nasdaq, and carries a published expense ratio of 1.07%, with inception on March 26, 2025. Lilly Bull 2X ETF (NASDAQ:ELIL) seeks twice Eli Lilly's daily return, so the quoted 6.48% gain implies a stock move near 3.2%. As simple arithmetic, a 2x fund that gains 6.48% one day and loses 6.48% the next ends about 0.42% lower, while the stock moving half as much each way ends about 0.10% lower. Lilly's shares have a large Market Value and typically move less than technology stocks, which limits compounding drag, but a 2x fund still magnifies results-day reactions. The fund is synthetic and exposed to swap counterparties, and a large one day drop on trial or pricing news could remove much of its value.

Where Things Stand

The answer is that Lilly Bull 2X ETF (NASDAQ:ELIL) rose because Eli Lilly's shares gained in a broad growth rally ahead of its October 29, 2026 results, and the fund doubles that move. The fundamentals are strong, with 48% revenue growth and promising retatrutide data, but the share price already reflects much of this. Pricing pressure and trial setbacks remain risks. The next marker is the October 29 report.