Data as of .
QCML vs QCMU: which held to its multiple?
Over the days both have traded, QCML finished 4.4 points from its stated multiple and QCMU 4.3.
ETFIQ Decay Resistance Score: QCMU 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 | |||
|---|---|---|---|---|---|---|
| QCML | QCMU | QCML | QCMU | QCML | QCMU | |
| 1 month | +23.9% | +23.7% | +24.4% | +24.4% | −0.5 pts | −0.7 pts |
| 3 months | −31.6% | −31.4% | −27.2% | −27.2% | −4.4 pts | −4.3 pts |
| 6 months | +53.6% | +53.6% | +82.9% | +82.9% | −29.4 pts | −29.3 pts |
| 1 year | −8.1% | −10.4% | +30.1% | +30.1% | −38.2 pts | −40.5 pts |
| Since launch | −28.4% | −6.4% | +19.6% | +39.6% | −48.0 pts | −46.0 pts |
| QCML GraniteShares 2x Long QCOM Daily ETF Aims to return twice the daily move of QCOM | QCMU Direxion Daily QCOM Bull 2X ETF Aims to return twice the daily move of QCOM | |
|---|---|---|
| Issuer | GraniteShares | Direxion |
| Sets out to return | +2x | +2x |
| On | QCOM | QCOM |
| Segment | company | company |
| Fund returned, 3 months | −31.6% | −31.4% |
| Underlying returned, 3 months | −13.6% | −13.6% |
| What the stated multiple implies, 3 months | −27.2% | −27.2% |
| Difference from stated, 3 months | −4.4 pts | −4.3 pts |
| Fund returned, 1 year or since launch | −8.1% | −10.4% |
| Difference from stated, over that window | −38.2 pts | −40.5 pts |
| Underlying volatility | 48% | 48% |
| Difference over the days both have traded | −4.4 pts | −4.3 pts |
| Expense ratio | 1.50% | 1.07% |
| Launched | Feb 13, 2025 | Jun 25, 2025 |
QCML in plain words
Three months to Sep 11, 2026: QCML returned −31.6% where its own daily promise gave −29.4%, 2.1 points short. Read the multiple against the whole window instead and +2 times QCOM's −13.6% implies −27.2%, which makes QCML look 4.4 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. QCML aims to return +2 times QCOM'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. QCOM moved at 48% 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.
QCMU in plain words
Three months to Sep 11, 2026: QCMU returned −31.4% where its own daily promise gave −29.4%, 2.0 points short. Read the multiple against the whole window instead and +2 times QCOM's −13.6% implies −27.2%, which makes QCMU look 4.3 points short. QCMU aims to return +2 times QCOM's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, QCML or QCMU?
- Over the window to Sep 11, 2026, QCML finished 4.4 points from what its multiple implies and QCMU finished 4.3 points from its own, so QCMU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are QCML and QCMU levered on the same thing?
- Yes. Both are levered on QCOM, QCML at +2 times and QCMU at +2 times the daily move.
- Which one decays faster, QCML or QCMU?
- Decay follows how much the underlying moves about. Over this window QCML’s moved at 48% annualized and QCMU’s at 48%, so QCML has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold QCML or QCMU 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, QCML or QCMU?
- QCML charges 1.50% a year and QCMU charges 1.07%, so QCMU 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, QCML against QCMU, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/QCML-QCMU Free to use with attribution; the underlying files are at Open data.