Data as of .
BRZU vs UBR: which held to its multiple?
Over the days both have traded, BRZU finished 2.0 points from its stated multiple and UBR 2.8.
ETFIQ Decay Resistance Score: BRZU scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| BRZU | UBR | BRZU | UBR | BRZU | UBR | |
| 1 month | +26.3% | +25.9% | +25.6% | +25.6% | +0.7 pts | +0.3 pts |
| 3 months | +17.7% | +16.9% | +19.7% | +19.7% | −2.0 pts | −2.8 pts |
| 6 months | +11.4% | +10.6% | +17.3% | +17.3% | −5.9 pts | −6.6 pts |
| 1 year | +56.7% | +55.6% | +65.8% | +65.8% | −9.1 pts | −10.2 pts |
| 3 years | +46.8% | +43.3% | +89.3% | +89.3% | −42.6 pts | −46.0 pts |
| Since launch | −99.0% | −86.6% | +54.5% | +42.8% | −153.5 pts | −129.4 pts |
| BRZU Direxion Daily MSCI Brazil Bull 2X ETF Aims to return twice the daily move of Brazil (EWZ) | UBR ProShares Ultra MSCI Brazil Capped Aims to return twice the daily move of Brazil (EWZ) | |
|---|---|---|
| Issuer | Direxion | ProShares |
| Sets out to return | +2x | +2x |
| On | EWZ | EWZ |
| Segment | country | country |
| Fund returned, 3 months | +17.7% | +16.9% |
| Underlying returned, 3 months | +9.8% | +9.8% |
| What the stated multiple implies, 3 months | +19.7% | +19.7% |
| Difference from stated, 3 months | −2.0 pts | −2.8 pts |
| Fund returned, 1 year or since launch | +56.7% | +55.6% |
| Difference from stated, over that window | −9.1 pts | −10.2 pts |
| Underlying volatility | 22% | 22% |
| Difference over the days both have traded | −2.0 pts | −2.8 pts |
| Expense ratio | 1.32% | 0.95% |
| Launched | Apr 10, 2013 | May 7, 2010 |
BRZU in plain words
Three months to Sep 11, 2026: BRZU returned +17.7% where its own daily promise gave +19.3%, 1.6 points short. Read the multiple against the whole window instead and +2 times EWZ's 9.8% implies +19.7%, which makes BRZU look 2.0 points short. 0.4 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. BRZU aims to return +2 times EWZ'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. EWZ moved at 22% 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.
UBR in plain words
Three months to Sep 11, 2026: UBR returned +16.9% where its own daily promise gave +19.3%, 2.4 points short. Read the multiple against the whole window instead and +2 times EWZ's 9.8% implies +19.7%, which makes UBR look 2.8 points short. UBR aims to return +2 times EWZ's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, BRZU or UBR?
- Over the window to Sep 11, 2026, BRZU finished 2.0 points from what its multiple implies and UBR finished 2.8 points from its own, so BRZU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are BRZU and UBR levered on the same thing?
- Yes. Both are levered on Brazil, BRZU at +2 times and UBR at +2 times the daily move.
- Which one decays faster, BRZU or UBR?
- Decay follows how much the underlying moves about. Over this window BRZU’s moved at 22% annualized and UBR’s at 22%, so BRZU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold BRZU or UBR 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, BRZU or UBR?
- BRZU charges 1.32% a year and UBR charges 0.95%, so UBR 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, BRZU against UBR, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/BRZU-UBR Free to use with attribution; the underlying files are at Open data.