Data as of .
OPEG vs OPEX: which held to its multiple?
Over the days both have traded, OPEG finished 7.5 points from its stated multiple and OPEX 7.3.
ETFIQ Decay Resistance Score: OPEG 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 | |||
|---|---|---|---|---|---|---|
| OPEG | OPEX | OPEG | OPEX | OPEG | OPEX | |
| 1 month | −38.5% | −38.4% | −40.1% | −40.1% | +1.6 pts | +1.8 pts |
| 3 months | −66.8% | −67.0% | −74.3% | −74.3% | +7.5 pts | +7.3 pts |
| 6 months | −77.3% | −78.3% | −87.3% | −87.3% | +10.0 pts | +8.9 pts |
| Since launch | −90.9% | −93.2% | −120.9% | −118.0% | +29.9 pts | +24.8 pts |
| OPEG Leverage Shares 2X Long OPEN Daily ETF Aims to return twice the daily move of OPEN | OPEX Tradr 2X Long OPEN Daily ETF Aims to return twice the daily move of OPEN | |
|---|---|---|
| Issuer | Leverage Shares | Tradr |
| Sets out to return | +2x | +2x |
| On | OPEN | OPEN |
| Segment | company | company |
| Fund returned, 3 months | −66.8% | −67.0% |
| Underlying returned, 3 months | −37.2% | −37.2% |
| What the stated multiple implies, 3 months | −74.3% | −74.3% |
| Difference from stated, 3 months | +7.5 pts | +7.3 pts |
| Fund returned, 1 year or since launch | −90.9% | −93.2% |
| Difference from stated, over that window | +29.9 pts | +24.8 pts |
| Underlying volatility | 69% | 69% |
| Difference over the days both have traded | +7.5 pts | +7.3 pts |
| Expense ratio | 0.75% | 1.30% |
| Launched | Dec 11, 2025 | Oct 23, 2025 |
OPEG in plain words
Three months to Sep 11, 2026: OPEG returned −66.8% where its own daily promise gave −65.3%, 1.4 points short. Read the multiple against the whole window instead and +2 times OPEN's −37.2% implies −74.3%, which makes OPEG look 7.5 points over. 9.0 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. OPEG aims to return +2 times OPEN'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. OPEN moved at 69% 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.
OPEX in plain words
Three months to Sep 11, 2026: OPEX returned −67.0% where its own daily promise gave −65.3%, 1.7 points short. Read the multiple against the whole window instead and +2 times OPEN's −37.2% implies −74.3%, which makes OPEX look 7.3 points over. OPEX aims to return +2 times OPEN's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, OPEG or OPEX?
- Over the window to Sep 11, 2026, OPEG finished 7.5 points from what its multiple implies and OPEX finished 7.3 points from its own, so OPEX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are OPEG and OPEX levered on the same thing?
- Yes. Both are levered on OPEN, OPEG at +2 times and OPEX at +2 times the daily move.
- Which one decays faster, OPEG or OPEX?
- Decay follows how much the underlying moves about. Over this window OPEG’s moved at 69% annualized and OPEX’s at 69%, so OPEG has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold OPEG or OPEX 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, OPEG or OPEX?
- OPEG charges 0.75% a year and OPEX charges 1.30%, so OPEG is cheaper. Fees come from each fund's prospectus.
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, OPEG against OPEX, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/OPEG-OPEX Free to use with attribution; the underlying files are at Open data.