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

Over the window to Sep 30, 2026, AXTL finished 64.2 points from what its multiple implies and AXTU finished 65.0 points from its own, so AXTL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are AXTL and AXTU levered on the same thing?

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

Which one decays faster, AXTL or AXTU?

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

Can I hold AXTL or AXTU 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 AXTU?

AXTL charges 0.99% a year and AXTU charges 1.50%, so AXTL is cheaper. Fees come from each fund's prospectus.

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AXTL vs AXTU: which held to its multiple?

Over the days both have traded, AXTL finished 5.9 points from its stated multiple and AXTU 10.5. Leverage Shares 2X Long AXTI Daily ETF and T-REX 2X LONG AXTI DAILY TARGET ETF.

−26.1%

AXTL returned, 3 months

−27.0%

AXTU returned, 3 months

−64.2 pts

AXTL from its stated multiple

−65.0 pts

AXTU 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%

AXTU · 3 months to Sep 30, 202665 pts short of its stated multiple

AXTU returned −27.0% while 2 times AXTI's move would have been +38.1%

ETFIQ Decay Resistance Score · AXTL scores higherDid it keep up with its own daily multiple, compounded day by day?

AXTL 18.6

AXTU 12.9

0.1, the lowest in this set99.9, the highest

A percentile among the 470 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

	Total return		Multiple would give		Difference
Window	AXTL	AXTU	AXTL	AXTU	AXTL	AXTU
1 month	+49.5%	+45.0%	+55.4%	+55.4%	−5.9 pts	−10.5 pts
3 months	−26.1%	−27.0%	+38.1%	+38.1%	−64.2 pts	−65.0 pts
Since launch AXTL Jun 2026 · AXTU May 2026	−66.9%	−82.0%	−33.6%	−56.0%	−33.3 pts	−25.9 pts

AXTL and AXTU 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)

AXTU

T-REX 2X LONG AXTI DAILY TARGET ETF · Aims to return twice the daily move of AXT (AXTI)

Issuer Leverage Shares T-REX

Sets out to return +2x +2x

Underlying asset AXTI AXTI

Segment company company

Fund returned, 3 months or since launch −26.1% −27.0%

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

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

Difference from stated, over that window −64.2 pts −65.0 pts

Fund returned, 1 year or since launch −66.9% −82.0%

Difference from stated, over that window −33.3 pts −25.9 pts

Underlying volatility 158% 158%

Difference over the days both have traded −5.9 pts −10.5 pts

Expense ratio 0.99% 1.50%

Launched Jun 16, 2026 May 5, 2026

Net assets $8m $20m

AXTL and AXTU 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.

AXTU in plain words

Three months to Sep 30, 2026: AXTU returned −27.0% where its own daily promise gave −21.7%, 5.2 points short. Read the multiple against the whole window instead and 2 times AXTI's 19.0% implies +38.1%, which makes AXTU look 65.0 points short. AXTU aims to return +2 times AXTI's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, AXTL or AXTU?: Over the window to Sep 30, 2026, AXTL finished 64.2 points from what its multiple implies and AXTU finished 65.0 points from its own, so AXTL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are AXTL and AXTU levered on the same thing?: Yes. Both are levered on AXT, AXTL at +2 times and AXTU at +2 times the daily move.
Which one decays faster, AXTL or AXTU?: Decay follows how much the underlying moves about. Over this window AXTL’s moved at 158% annualized and AXTU’s at 158%, so AXTL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold AXTL or AXTU 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 AXTU?: AXTL charges 0.99% a year and AXTU charges 1.50%, so AXTL is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

AXTL on its own →AXTU 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 ↗AXTU filings on SEC EDGAR ↗AXTU prospectus with the expense ratio (SEC) ↗T-REX page for AXTU ↗

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 AXTU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/axtl-vs-axtu

Open data

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