Data as of .
MIC vs MUG: which held to its multiple?
Over the days both have traded, MIC finished 0.4 points from its stated multiple and MUG 0.5.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| MIC | MUG | MIC | MUG | MIC | MUG | |
| 1 month | +10.7% | not published | +14.0% | not published | −3.4 pts | not published |
| Since launch | −39.7% | +8.3% | −31.0% | +8.1% | −8.7 pts | +0.2 pts |
| MIC Corgi MU 2x Daily ETF Aims to return twice the daily move of MU | MUG Leverage Shares 2X Long MU Daily ETF Aims to return twice the daily move of MU | |
|---|---|---|
| Issuer | Corgi | Leverage Shares |
| Sets out to return | +2x | +2x |
| On | MU | MU |
| Segment | company | company |
| Fund returned, 3 months | +10.7% | +8.3% |
| Underlying returned, 3 months | +7.0% | +4.1% |
| What the stated multiple implies, 3 months | +14.0% | +8.1% |
| Difference from stated, 3 months | −3.4 pts | +0.2 pts |
| Fund returned, 1 year or since launch | −39.7% | +8.3% |
| Difference from stated, over that window | −8.7 pts | +0.2 pts |
| Underlying volatility | 53% | 48% |
| Difference over the days both have traded | +0.4 pts | −0.5 pts |
| Expense ratio | 0.45% | not published |
| Launched | Jun 30, 2026 | Aug 19, 2026 |
MIC in plain words
One month to Sep 11, 2026: MIC returned +10.7% where its own daily promise gave +11.8%, 1.1 points short. Read the multiple against the whole window instead and +2 times MU's 7.0% implies +14.0%, which makes MIC look 3.4 points short. 2.3 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. MIC aims to return +2 times MU'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. MU moved at 53% 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.
MUG in plain words
Since launch to Sep 11, 2026: MUG returned +8.3% where its own daily promise gave +6.7%, 1.6 points over. Read the multiple against the whole window instead and +2 times MU's 4.1% implies +8.1%, which makes MUG look 0.2 points over. 1.4 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. MUG aims to return +2 times MU's move each day, then resets. MU moved at 48% annualized over that window.
Questions people ask
- Are MIC and MUG levered on the same thing?
- Yes. Both are levered on MU, MIC at +2 times and MUG at +2 times the daily move.
- Can I hold MIC or MUG 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.
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, MIC against MUG, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/MIC-MUG Free to use with attribution; the underlying files are at Open data.