Data as of .
AXTL vs AXTU: which held to its multiple?
Over the days both have traded, AXTL finished 6.6 points from its stated multiple and AXTU 7.0.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| AXTL | AXTU | AXTL | AXTU | AXTL | AXTU | |
| 1 month | −41.5% | −41.9% | −34.9% | −34.9% | −6.6 pts | −7.0 pts |
| 3 months | not published | −78.7% | not published | −66.7% | not published | −12.0 pts |
| Since launch | −75.1% | −86.3% | −60.8% | −79.6% | −14.4 pts | −6.8 pts |
| AXTL Leverage Shares 2X Long AXTI Daily ETF Aims to return twice the daily move of AXTI | AXTU T-REX 2X LONG AXTI DAILY TARGET ETF Aims to return twice the daily move of AXTI | |
|---|---|---|
| Issuer | Leverage Shares | T-REX |
| Sets out to return | +2x | +2x |
| On | AXTI | AXTI |
| Segment | company | company |
| Fund returned, 3 months | −41.5% | −78.7% |
| Underlying returned, 3 months | −17.5% | −33.4% |
| What the stated multiple implies, 3 months | −34.9% | −66.7% |
| Difference from stated, 3 months | −6.6 pts | −12.0 pts |
| Fund returned, 1 year or since launch | −75.1% | −86.3% |
| Difference from stated, over that window | −14.4 pts | −6.8 pts |
| Underlying volatility | 123% | 165% |
| Difference over the days both have traded | −6.6 pts | −7.0 pts |
| Expense ratio | 0.99% | 1.50% |
| Launched | Jun 16, 2026 | May 5, 2026 |
AXTL in plain words
One month to Sep 11, 2026: AXTL returned −41.5% where its own daily promise gave −40.3%, 1.2 points short. Read the multiple against the whole window instead and +2 times AXTI's −17.5% implies −34.9%, which makes AXTL look 6.6 points short. 5.4 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. AXTL aims to return +2 times AXTI's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. AXTI moved at 123% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
AXTU in plain words
Three months to Sep 11, 2026: AXTU returned −78.7% where its own daily promise gave −77.0%, 1.7 points short. Read the multiple against the whole window instead and +2 times AXTI's −33.4% implies −66.7%, which makes AXTU look 12.0 points short. 10.3 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. AXTU aims to return +2 times AXTI's move each day, then resets. AXTI moved at 165% annualized over that window.
Questions people ask
- Which came closer to its stated multiple, AXTL or AXTU?
- Over the window to Sep 11, 2026, AXTL finished 6.6 points from what its multiple implies and AXTU finished 12.0 points from its own, so AXTL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are AXTL and AXTU levered on the same thing?
- Yes. Both are levered on AXTI, AXTL at +2 times and AXTU at +2 times the daily move.
- Which one decays faster, AXTL or AXTU?
- Decay follows how much the underlying moves about. Over this window AXTL’s moved at 123% annualized and AXTU’s at 165%, so AXTU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold AXTL or AXTU for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, AXTL or AXTU?
- AXTL charges 0.99% a year and AXTU charges 1.50%, so AXTL is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AXTL against AXTU, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/AXTL-AXTU Free to use with attribution; the underlying files are at Open data.