Data as of .
FBX vs METQ: which held to its multiple?
FBX returns +2 times META each day and METQ -2 times, and they share no window yet.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| FBX | METQ | FBX | METQ | FBX | METQ | |
| 1 month | +22.6% | not published | +23.9% | not published | −1.3 pts | not published |
| Since launch | +23.2% | −31.0% | +30.1% | −38.4% | −6.9 pts | +7.4 pts |
| FBX Corgi META 2x Daily ETF Aims to return twice the daily move of Meta Platforms (META) | METQ Tradr 2X Short META Daily ETF Aims to return twice the opposite of the daily move of Meta Platforms (META) | |
|---|---|---|
| Issuer | Corgi | Tradr |
| Sets out to return | +2x | -2x |
| On | META | META |
| Segment | company | company |
| Fund returned, 3 months | +22.6% | −31.0% |
| Underlying returned, 3 months | +11.9% | +19.2% |
| What the stated multiple implies, 3 months | +23.9% | −38.4% |
| Difference from stated, 3 months | −1.3 pts | +7.4 pts |
| Fund returned, 1 year or since launch | +23.2% | −31.0% |
| Difference from stated, over that window | −6.9 pts | +7.4 pts |
| Underlying volatility | 36% | 29% |
| Difference over the days both have traded | −1.3 pts | no shared window |
| Expense ratio | 0.45% | 1.49% |
| Launched | Jun 30, 2026 | Aug 18, 2026 |
FBX in plain words
One month to Sep 11, 2026: FBX returned +22.6% where its own daily promise gave +23.9%, 1.4 points short. Read the multiple against the whole window instead and +2 times META's 11.9% implies +23.9%, which makes FBX look 1.3 points short. 0.0 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. FBX aims to return +2 times META'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. META moved at 36% 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.
METQ in plain words
Since launch to Sep 11, 2026: METQ returned −31.0% where its own daily promise gave −31.2%, 0.2 points over. Read the multiple against the whole window instead and −2 times META's 19.2% implies −38.4%, which makes METQ look 7.4 points over. 7.2 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. METQ aims to return -2 times META's move each day, then resets. 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. META moved at 29% annualized over that window.
Questions people ask
- Are FBX and METQ levered on the same thing?
- Yes. Both are levered on Meta Platforms, FBX at +2 times and METQ at -2 times the daily move.
- Can I hold FBX or METQ 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, FBX or METQ?
- FBX charges 0.45% a year and METQ charges 1.49%, so FBX 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, FBX against METQ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/FBX-METQ Free to use with attribution; the underlying files are at Open data.