{"url":"https://etfiq.com/compare/leverage/erx-vs-ery","section":"compare","title":"ERX vs ERY: which held to its multiple? | ETFIQ","description":"ERX sets out to return +2 times XLE each day and ERY -2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and +6.5 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, ERX or ERY?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, ERX finished 0.4 points from what its multiple implies and ERY finished 6.5 points from its own, so ERX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are ERX and ERY levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on energy, ERX at +2 times and ERY at -2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, ERX or ERY?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window ERX\u2019s moved at 21% annualized and ERY\u2019s at 21%, so ERX has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold ERX or ERY 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, ERX or ERY?","acceptedAnswer":{"@type":"Answer","text":"ERX charges 0.91% a year and ERY charges 0.99%, so ERX 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":"ERX vs ERY","item":"https://etfiq.com/compare/leverage/erx-vs-ery"}]},{"@type":"WebPage","name":"ERX vs ERY: which held to its multiple?","description":"ERX sets out to return +2 times XLE each day and ERY -2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and +6.5 pts away.","url":"https://etfiq.com/compare/leverage/erx-vs-ery","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, ERX finished 1.8 points short and ERY 1.8 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 ERX and ERY","description":"ERX sets out to return +2 times XLE each day and ERY -2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and +6.5 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/erx-vs-ery","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":6937,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / ERX vs ERY \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n ERX vs ERY: which held to its multiple?\n\n Over three months against its own daily promise, ERX finished 1.8 points short and ERY 1.8 points over.\n Copy this for sharing \n \n Direxion Daily Energy Bull 2X ETF and Direxion Daily Energy Bear 2X ETF.\n\n Download as PDF \n\n +33.9% ERX returned, 3 months \n \u221227.8% ERY returned, 3 months \n \u22120.4 pts ERX from its stated multiple \n +6.5 pts ERY from its stated multiple \n\n ETFIQ Decay Resistance Score: ERX scores higher\n Did it keep up w","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/erx-vs-ery","a":{"ticker":"ERX","name":"Direxion Daily Energy Bull 2X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: ERX returned +33.9% where its own daily promise gave +35.7%, 1.8 points short.","url":"https://etfiq.com/funds/erx","key_facts":[{"label":"What XLE did","value":"+17.2%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+35.7%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+33.9%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.8 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$232m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.91%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"b":{"ticker":"ERY","name":"Direxion Daily Energy Bear 2X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: ERY returned \u221227.8% where its own daily promise gave \u221229.7%, 1.8 points over.","url":"https://etfiq.com/funds/ery","key_facts":[{"label":"What XLE did","value":"+17.2%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221229.7%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221227.8%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.8 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$55m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.99%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 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/erx-vs-ery"}