Data as of .
QBTX vs QBTZ: which held to its multiple?
Over three months against its own daily promise, QBTX finished 1.5 points short and QBTZ 23.0 points short.
ETFIQ Decay Resistance Score: QBTX 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 | |||
|---|---|---|---|---|---|---|
| QBTX | QBTZ | QBTX | QBTZ | QBTX | QBTZ | |
| 1 month | −38.0% | +18.1% | −38.0% | +38.0% | +0.1 pts | −19.9 pts |
| 3 months | −59.7% | −26.5% | −56.2% | +56.2% | −3.5 pts | −82.7 pts |
| 6 months | −50.9% | −90.7% | −8.5% | +8.5% | −42.3 pts | −99.2 pts |
| 1 year | −73.3% | not published | +3.4% | not published | −76.7 pts | not published |
| Since launch | −23.0% | −93.9% | not meaningful | +105.9% | not meaningful | −199.9 pts |
| QBTX Tradr 2X Long QBTS Daily ETF Aims to return twice the daily move of QBTS | QBTZ Defiance Daily Target 2X Short QBTS ETF Aims to return twice the opposite of the daily move of QBTS | |
|---|---|---|
| Issuer | Tradr | Defiance |
| Sets out to return | +2x | -2x |
| On | QBTS | QBTS |
| Segment | company | company |
| Fund returned, 3 months | −59.7% | −26.5% |
| Underlying returned, 3 months | −28.1% | −28.1% |
| What the stated multiple implies, 3 months | −56.2% | +56.2% |
| Difference from stated, 3 months | −3.5 pts | −82.7 pts |
| Fund returned, 1 year or since launch | −73.3% | −93.9% |
| Difference from stated, over that window | −76.7 pts | −199.9 pts |
| Underlying volatility | 94% | 94% |
| Difference over the days both have traded | +0.1 pts | no shared window |
| Expense ratio | 1.31% | 2.31% |
| Launched | Apr 25, 2025 | Oct 7, 2025 |
QBTX in plain words
Three months to Sep 11, 2026: QBTX returned −59.7% where its own daily promise gave −58.2%, 1.5 points short. Read the multiple against the whole window instead and +2 times QBTS's −28.1% implies −56.2%, which makes QBTX look 3.5 points short. 2.0 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. QBTX aims to return +2 times QBTS'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. QBTS moved at 94% 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.
QBTZ in plain words
Three months to Sep 11, 2026: QBTZ returned −26.5% where its own daily promise gave −3.5%, 23.0 points short. Read the multiple against the whole window instead and −2 times QBTS's −28.1% implies +56.2%, which makes QBTZ look 82.7 points short. 59.7 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. QBTZ aims to return -2 times QBTS'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.
Questions people ask
- Which came closer to its stated multiple, QBTX or QBTZ?
- Over the window to Sep 11, 2026, QBTX finished 3.5 points from what its multiple implies and QBTZ finished 82.7 points from its own, so QBTX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are QBTX and QBTZ levered on the same thing?
- Yes. Both are levered on QBTS, QBTX at +2 times and QBTZ at -2 times the daily move.
- Which one decays faster, QBTX or QBTZ?
- Decay follows how much the underlying moves about. Over this window QBTX’s moved at 94% annualized and QBTZ’s at 94%, so QBTX has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold QBTX or QBTZ 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, QBTX or QBTZ?
- QBTX charges 1.31% a year and QBTZ charges 2.31%, so QBTX 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, QBTX against QBTZ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/QBTX-QBTZ Free to use with attribution; the underlying files are at Open data.