Data as of .
UPSC vs UPSX: which held to its multiple?
Over the days both have traded, UPSC finished 1.7 points from its stated multiple and UPSX 2.0.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| UPSC | UPSX | UPSC | UPSX | UPSC | UPSX | |
| 1 month | −25.8% | −26.2% | −24.1% | −24.1% | −1.7 pts | −2.0 pts |
| 3 months | not published | −37.1% | not published | −32.2% | not published | −4.9 pts |
| 6 months | not published | −27.8% | not published | −5.8% | not published | −22.0 pts |
| 1 year | not published | −90.9% | not published | −117.7% | not published | +26.8 pts |
| Since launch | −42.3% | −91.3% | −43.7% | −111.3% | +1.4 pts | +20.0 pts |
| UPSC Corgi UPST 2x Daily ETF Aims to return twice the daily move of UPST | UPSX Tradr 2X Long UPST Daily ETF Aims to return twice the daily move of UPST | |
|---|---|---|
| Issuer | Corgi | Tradr |
| Sets out to return | +2x | +2x |
| On | UPST | UPST |
| Segment | company | company |
| Fund returned, 3 months | −25.8% | −37.1% |
| Underlying returned, 3 months | −12.1% | −16.1% |
| What the stated multiple implies, 3 months | −24.1% | −32.2% |
| Difference from stated, 3 months | −1.7 pts | −4.9 pts |
| Fund returned, 1 year or since launch | −42.3% | −90.9% |
| Difference from stated, over that window | +1.4 pts | +26.8 pts |
| Underlying volatility | 53% | 52% |
| Difference over the days both have traded | −1.7 pts | −2.0 pts |
| Expense ratio | not published | 1.30% |
| Launched | Jul 10, 2026 | Jun 10, 2025 |
UPSC in plain words
One month to Sep 11, 2026: UPSC returned −25.8% where its own daily promise gave −24.5%, 1.2 points short. Read the multiple against the whole window instead and +2 times UPST's −12.1% implies −24.1%, which makes UPSC look 1.7 points short. 0.4 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. UPSC aims to return +2 times UPST'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. UPST 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.
UPSX in plain words
Three months to Sep 11, 2026: UPSX returned −37.1% where its own daily promise gave −34.1%, 3.0 points short. Read the multiple against the whole window instead and +2 times UPST's −16.1% implies −32.2%, which makes UPSX look 4.9 points short. 1.9 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. UPSX aims to return +2 times UPST's move each day, then resets. UPST moved at 52% annualized over that window.
Questions people ask
- Which came closer to its stated multiple, UPSC or UPSX?
- Over the window to Sep 11, 2026, UPSC finished 1.7 points from what its multiple implies and UPSX finished 4.9 points from its own, so UPSC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are UPSC and UPSX levered on the same thing?
- Yes. Both are levered on UPST, UPSC at +2 times and UPSX at +2 times the daily move.
- Which one decays faster, UPSC or UPSX?
- Decay follows how much the underlying moves about. Over this window UPSC’s moved at 53% annualized and UPSX’s at 52%, so UPSC has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold UPSC or UPSX 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.
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, UPSC against UPSX, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/UPSC-UPSX Free to use with attribution; the underlying files are at Open data.