{"url":"https://etfiq.com/compare/leverage/brzx-vs-bzq","section":"compare","title":"BRZX vs BZQ: which held to its multiple? | ETFIQ","description":"BRZX sets out to return +2 times EWZ each day and BZQ -2 times. Over the three months to Sep 30, 2026 they finished \u22123.7 pts and +0.2 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, BRZX or BZQ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, BRZX finished 3.7 points from what its multiple implies and BZQ finished 0.2 points from its own, so BZQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are BRZX and BZQ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Brazil, BRZX at +2 times and BZQ at -2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, BRZX or BZQ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window BRZX\u2019s moved at 22% annualized and BZQ\u2019s at 22%, so BRZX has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold BRZX or BZQ for a year?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, BRZX or BZQ?","acceptedAnswer":{"@type":"Answer","text":"BRZX charges 0.45% a year and BZQ charges 0.95%, so BRZX is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"BRZX vs BZQ","item":"https://etfiq.com/compare/leverage/brzx-vs-bzq"}]},{"@type":"WebPage","name":"BRZX vs BZQ: which held to its multiple?","description":"BRZX sets out to return +2 times EWZ each day and BZQ -2 times. Over the three months to Sep 30, 2026 they finished \u22123.7 pts and +0.2 pts away.","url":"https://etfiq.com/compare/leverage/brzx-vs-bzq","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, BRZX finished 3.1 points short and BZQ 1.3 points over.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of BRZX and BZQ","description":"BRZX sets out to return +2 times EWZ each day and BZQ -2 times. Over the three months to Sep 30, 2026 they finished \u22123.7 pts and +0.2 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/brzx-vs-bzq","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":7061,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / BRZX vs BZQ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n BRZX vs BZQ: which held to its multiple?\n\n Over three months against its own daily promise, BRZX finished 3.1 points short and BZQ 1.3 points over.\n Copy this for sharing \n \n Corgi Brazil 2x Daily ETF and ProShares UltraShort MSCI Brazil Capped.\n\n Download as PDF \n\n +14.2% BRZX returned, 3 months \n \u221217.7% BZQ returned, 3 months \n \u22123.7 pts BRZX from its stated multiple \n +0.2 pts BZQ from its stated multiple \n\n ETFIQ Decay Resistance Score: BRZX scores higher\n Did it keep ","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/brzx-vs-bzq","a":{"ticker":"BRZX","name":"Corgi Brazil 2x Daily ETF","issuer":"Corgi","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: BRZX returned +14.2% where its own daily promise gave +17.3%, 3.1 points short.","url":"https://etfiq.com/funds/brzx","key_facts":[{"label":"What EWZ did","value":"+9.0%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+17.3%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+14.2%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22123.1 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$392,136","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.45%","as_of":"2026-09-30","source":"485BPOS XBRL, May 28, 2026"}]},"b":{"ticker":"BZQ","name":"ProShares UltraShort MSCI Brazil Capped","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: BZQ returned \u221217.7% where its own daily promise gave \u221219.0%, 1.3 points over.","url":"https://etfiq.com/funds/bzq","key_facts":[{"label":"What EWZ did","value":"+9.0%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221219.0%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221217.7%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.3 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$3m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/brzx-vs-bzq"}