{"url":"https://etfiq.com/compare/leverage/erx-vs-xlex","section":"compare","title":"ERX vs XLEX: which held to its multiple? | ETFIQ","description":"ERX sets out to return +2 times XLE each day and XLEX +2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and \u22121.8 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, ERX or XLEX?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, ERX finished 0.4 points from what its multiple implies and XLEX finished 1.8 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 XLEX levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on energy, ERX at +2 times and XLEX at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, ERX or XLEX?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window ERX\u2019s moved at 21% annualized and XLEX\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 XLEX 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 XLEX?","acceptedAnswer":{"@type":"Answer","text":"ERX charges 0.91% a year and XLEX charges 0.45%, so XLEX 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 XLEX","item":"https://etfiq.com/compare/leverage/erx-vs-xlex"}]},{"@type":"WebPage","name":"ERX vs XLEX: which held to its multiple?","description":"ERX sets out to return +2 times XLE each day and XLEX +2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and \u22121.8 pts away.","url":"https://etfiq.com/compare/leverage/erx-vs-xlex","dateModified":"2026-09-30","abstract":"Over the days both have traded, ERX finished 0.4 points from its stated multiple and XLEX 1.8.","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 XLEX","description":"ERX sets out to return +2 times XLE each day and XLEX +2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and \u22121.8 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/erx-vs-xlex","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":6498,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / ERX vs XLEX \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n ERX vs XLEX: which held to its multiple?\n\n Over the days both have traded, ERX finished 0.4 points from its stated multiple and XLEX 1.8.\n Copy this for sharing \n \n Direxion Daily Energy Bull 2X ETF and Corgi U.S. Energy 2x Daily ETF.\n\n Download as PDF \n\n +33.9% ERX returned, 3 months \n +32.5% XLEX returned, 3 months \n \u22120.4 pts ERX from its stated multiple \n \u22121.8 pts XLEX from its stated multiple \n\n ETFIQ Decay Resistance Score: ERX scores higher\n Did it keep up with its ","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-xlex","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":"XLEX","name":"Corgi U.S. Energy 2x Daily ETF","issuer":"Corgi","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: XLEX returned +32.5% where its own daily promise gave +35.7%, 3.2 points short.","url":"https://etfiq.com/funds/xlex","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":"+32.5%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22123.2 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$820,603","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"}]},"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-xlex"}