Which came closer to its stated multiple, AXTL or AXTQ?

Over the window to Sep 30, 2026, AXTL finished 64.2 points from what its multiple implies and AXTQ finished 0.3 points from its own, so AXTQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are AXTL and AXTQ levered on the same thing?

Yes. Both are levered on AXT, AXTL at +2 times and AXTQ at -2 times the daily move.

Which one decays faster, AXTL or AXTQ?

Decay follows how much the underlying moves about. Over this window AXTL’s moved at 158% annualized and AXTQ’s at 109%, so AXTL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold AXTL or AXTQ 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, AXTL or AXTQ?

AXTL charges 0.99% a year and AXTQ charges 1.49%, so AXTL is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

AXTL vs AXTQ: which held to its multiple?

Over a month against its own daily promise, AXTL finished 1.5 points over and AXTQ 0.1 points short. Leverage Shares 2X Long AXTI Daily ETF and Tradr 2X Short AXTI Daily ETF.

−26.1%

AXTL returned, 3 months

−26.0%

AXTQ returned, since launch

−64.2 pts

AXTL from its stated multiple

−37.9 pts

AXTQ from its stated multiple

AXTL · 3 months to Sep 30, 202664.2 pts short of its stated multiple

AXTL returned −26.1% while 2 times AXTI's move would have been +38.1%

AXTQ · 1 month to Sep 30, 2026On its stated multiple

AXTQ returned −55.8% while −2 times AXTI's move would have been −55.4%

Performance, window by window

	Total return		Multiple would give		Difference
Window	AXTL	AXTQ	AXTL	AXTQ	AXTL	AXTQ
1 month	+49.5%	−55.8%	+55.4%	−55.4%	−5.9 pts	−0.3 pts
3 months	−26.1%	not published	+38.1%	not published	−64.2 pts	not published
Since launch AXTL Jun 2026 · AXTQ Aug 2026	−66.9%	−26.0%	−33.6%	+11.9%	−33.3 pts	−37.9 pts

AXTL and AXTQ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

AXTL

Leverage Shares 2X Long AXTI Daily ETF · Aims to return twice the daily move of AXT (AXTI)

AXTQ

Tradr 2X Short AXTI Daily ETF · Aims to return twice the opposite of the daily move of AXT (AXTI)

Issuer Leverage Shares Tradr

Sets out to return +2x -2x

Underlying asset AXTI AXTI

Segment company company

Fund returned, 3 months or since launch −26.1% −55.8%

Underlying returned, over that window +19.0% +27.7%

What the stated multiple implies, over that window +38.1% −55.4%

Difference from stated, over that window −64.2 pts −0.3 pts

Fund returned, 1 year or since launch −66.9% −26.0%

Difference from stated, over that window −33.3 pts −37.9 pts

Underlying volatility 158% 109%

Difference over the days both have traded −5.9 pts no shared window

Expense ratio 0.99% 1.49%

Launched Jun 16, 2026 Aug 18, 2026

Net assets $8m $10m

AXTL and AXTQ on the same fields, as of Sep 30, 2026. Source: ETFIQ.

AXTL in plain words

Three months to Sep 30, 2026: AXTL returned −26.1% where its own daily promise gave −21.7%, 4.4 points short. Read the multiple against the whole window instead and 2 times AXTI's 19.0% implies +38.1%, which makes AXTL look 64.2 points short. 59.8 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. AXTL aims to return +2 times AXTI'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. AXTI moved at 158% 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.

AXTQ in plain words

One month to Sep 30, 2026: AXTQ returned −55.8% where its own daily promise gave −55.7%, 0.1 points short. Read the multiple against the whole window instead and −2 times AXTI's 27.7% implies −55.4%, which makes AXTQ look 0.3 points short. 0.3 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. AXTQ aims to return -2 times AXTI'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. AXTI moved at 109% annualized over that window.

Questions people ask

Which came closer to its stated multiple, AXTL or AXTQ?: Over the window to Sep 30, 2026, AXTL finished 64.2 points from what its multiple implies and AXTQ finished 0.3 points from its own, so AXTQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are AXTL and AXTQ levered on the same thing?: Yes. Both are levered on AXT, AXTL at +2 times and AXTQ at -2 times the daily move.
Which one decays faster, AXTL or AXTQ?: Decay follows how much the underlying moves about. Over this window AXTL’s moved at 158% annualized and AXTQ’s at 109%, so AXTL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold AXTL or AXTQ 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, AXTL or AXTQ?: AXTL charges 0.99% a year and AXTQ charges 1.49%, so AXTL is cheaper. Fees come from each fund's prospectus.

Other comparisons

AXTL vs AXTU AXTL vs AXTX AXTL vs AXTC AXTQ vs AXTU AXTQ vs AXTX AXTQ vs AXTC

AXTL on its own →AXTQ on its own →How every figure is computed →Standards and sources →

Where these figures came from

AXTL filings on SEC EDGAR ↗AXTL prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗AXTQ filings on SEC EDGAR ↗AXTQ prospectus with the expense ratio (SEC) ↗Tradr website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, AXTL against AXTQ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/axtl-vs-axtq

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.