Data as of .
MSFU vs MSFX: which held to its multiple?
Over the days both have traded, MSFU finished 1.2 points from its stated multiple and MSFX 1.2.
ETFIQ Decay Resistance Score: MSFU 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 | |||
|---|---|---|---|---|---|---|
| MSFU | MSFX | MSFU | MSFX | MSFU | MSFX | |
| 1 month | +0.5% | +0.5% | +1.7% | +1.7% | −1.2 pts | −1.2 pts |
| 3 months | +51.4% | +51.2% | +54.2% | +54.2% | −2.8 pts | −3.0 pts |
| 6 months | +41.5% | +40.9% | +51.6% | +51.6% | −10.1 pts | −10.7 pts |
| 1 year | −18.6% | −21.1% | −0.5% | −0.5% | −18.0 pts | −20.6 pts |
| 3 years | +29.4% | not published | +105.8% | not published | −76.3 pts | not published |
| Since launch | +73.7% | +2.8% | +196.9% | +63.2% | −123.2 pts | −60.4 pts |
| MSFU Direxion Daily MSFT Bull 2X ETF Aims to return twice the daily move of Microsoft (MSFT) | MSFX T-REX 2X LONG MICROSOFT DAILY TARGET ETF Aims to return twice the daily move of Microsoft (MSFT) | |
|---|---|---|
| Issuer | Direxion | T-REX |
| Sets out to return | +2x | +2x |
| On | MSFT | MSFT |
| Segment | company | company |
| Fund returned, 3 months | +51.4% | +51.2% |
| Underlying returned, 3 months | +27.1% | +27.1% |
| What the stated multiple implies, 3 months | +54.2% | +54.2% |
| Difference from stated, 3 months | −2.8 pts | −3.0 pts |
| Fund returned, 1 year or since launch | −18.6% | −21.1% |
| Difference from stated, over that window | −18.0 pts | −20.6 pts |
| Underlying volatility | 43% | 43% |
| Difference over the days both have traded | −1.2 pts | −1.2 pts |
| Expense ratio | 0.98% | 1.05% |
| Launched | Sep 7, 2022 | Jan 11, 2024 |
MSFU in plain words
Three months to Sep 11, 2026: MSFU returned +51.4% where its own daily promise gave +55.1%, 3.7 points short. Read the multiple against the whole window instead and +2 times MSFT's 27.1% implies +54.2%, which makes MSFU look 2.8 points short. 1.0 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. MSFU aims to return +2 times MSFT'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. MSFT moved at 43% 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.
MSFX in plain words
Three months to Sep 11, 2026: MSFX returned +51.2% where its own daily promise gave +55.1%, 3.9 points short. Read the multiple against the whole window instead and +2 times MSFT's 27.1% implies +54.2%, which makes MSFX look 3.0 points short. MSFX aims to return +2 times MSFT's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, MSFU or MSFX?
- Over the window to Sep 11, 2026, MSFU finished 2.8 points from what its multiple implies and MSFX finished 3.0 points from its own, so MSFU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are MSFU and MSFX levered on the same thing?
- Yes. Both are levered on Microsoft, MSFU at +2 times and MSFX at +2 times the daily move.
- Which one decays faster, MSFU or MSFX?
- Decay follows how much the underlying moves about. Over this window MSFU’s moved at 43% annualized and MSFX’s at 43%, so MSFU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold MSFU or MSFX 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, MSFU or MSFX?
- MSFU charges 0.98% a year and MSFX charges 1.05%, so MSFU 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, MSFU against MSFX, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/MSFU-MSFX Free to use with attribution; the underlying files are at Open data.