CCPX vs FXP: which held to its multiple?
Over three months against its own daily promise, CCPX finished 3.3 points short and FXP 2.8 points over. Corgi China 2x Daily ETF and ProShares UltraShort FTSE China 50.
CCPX returned +9.1% while 2 times FXI's move would have been +12.8%
FXP returned −10.8% while −2 times FXI's move would have been −12.8%
CCPX among the 470 leveraged ETFs, long, over three months
FXP among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. FXP is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. 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 | CCPX | FXP | CCPX | FXP | CCPX | FXP |
| 1 month | −8.9% | +8.8% | −7.6% | +7.6% | −1.2 pts | +1.2 pts |
| 3 months | +9.1% | −10.8% | +12.8% | −12.8% | −3.7 pts | +2.0 pts |
| 6 months | not published | +7.1% | not published | +7.2% | not published | −0.1 pts |
| 1 year | not published | +37.1% | not published | +31.5% | not published | +5.6 pts |
| 3 years | not published | −64.1% | not published | −76.7% | not published | +12.6 pts |
| Since launch CCPX Jun 2026 · FXP Jan 2010 | −11.1% | −98.0% | −7.1% | −33.8% | −4.0 pts | −64.2 pts |
CCPX and FXP over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
CCPX and FXP on the same fields, as of Sep 30, 2026. Source: ETFIQ.
CCPX in plain words
Three months to Sep 30, 2026: CCPX returned +9.1% where its own daily promise gave +12.4%, 3.3 points short. Read the multiple against the whole window instead and 2 times FXI's 6.4% implies +12.8%, which makes CCPX look 3.7 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. CCPX aims to return +2 times FXI'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. FXI moved at 17% 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.
FXP in plain words
Three months to Sep 30, 2026: FXP returned −10.8% where its own daily promise gave −13.7%, 2.8 points over. Read the multiple against the whole window instead and −2 times FXI's 6.4% implies −12.8%, which makes FXP look 2.0 points over. 0.8 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. FXP aims to return -2 times FXI'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.
Questions people ask
- Which came closer to its stated multiple, CCPX or FXP?
- Over the window to Sep 30, 2026, CCPX finished 3.7 points from what its multiple implies and FXP finished 2.0 points from its own, so FXP came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are CCPX and FXP levered on the same thing?
- Yes. Both are levered on iShares China Large-Cap ETF, CCPX at +2 times and FXP at -2 times the daily move.
- Which one decays faster, CCPX or FXP?
- Decay follows how much the underlying moves about. Over this window CCPX’s moved at 17% annualized and FXP’s at 17%, so CCPX has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold CCPX or FXP 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.
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.
ETFIQ, CCPX against FXP, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ccpx-vs-fxp
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, CCPX against FXP, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ccpx-vs-fxp Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, CCPX against FXP, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ccpx-vs-fxp
- APA
- ETFIQ. (Sep 30, 2026). CCPX against FXP. Retrieved from https://etfiq.com/compare/leverage/ccpx-vs-fxp
- Markdown
- [CCPX against FXP (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/ccpx-vs-fxp)