ETHU vs EVMU: which held to its multiple?
Over the days both have traded, ETHU finished 20.8 points from its stated multiple and EVMU 18.5. 2x Ether ETF and Direxion Daily Ether Bull 2X ETF.
ETHU returned +150.9% while 2 times ETHA's move would have been +130.1%
EVMU returned +148.6% while 2 times ETHA's move would have been +130.1%
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 | ETHU | EVMU | ETHU | EVMU | ETHU | EVMU |
| 1 month | +12.2% | +12.4% | +15.0% | +15.0% | −2.8 pts | −2.6 pts |
| 3 months | +150.9% | +148.6% | +130.1% | +130.1% | +20.8 pts | +18.5 pts |
| 6 months | +29.1% | not published | +49.0% | not published | −19.9 pts | not published |
| 1 year | −76.7% | not published | −72.3% | not published | −4.4 pts | not published |
| Since launch ETHU Jul 2024 · EVMU May 2026 | −87.2% | +44.4% | −46.6% | +59.9% | −40.5 pts | −15.4 pts |
ETHU and EVMU over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
ETHU and EVMU on the same fields, as of Sep 30, 2026. Source: ETFIQ.
ETHU in plain words
Three months to Sep 30, 2026: ETHU returned +150.9% where its own daily promise gave +157.5%, 6.6 points short. Read the multiple against the whole window instead and 2 times ETHA's 65.0% implies +130.1%, which makes ETHU look 20.8 points over. 27.4 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. ETHU aims to return +2 times ETHA'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. ETHA moved at 48% 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.
EVMU in plain words
Three months to Sep 30, 2026: EVMU returned +148.6% where its own daily promise gave +157.5%, 8.9 points short. Read the multiple against the whole window instead and 2 times ETHA's 65.0% implies +130.1%, which makes EVMU look 18.5 points over. EVMU aims to return +2 times ETHA's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, ETHU or EVMU?
- Over the window to Sep 30, 2026, ETHU finished 20.8 points from what its multiple implies and EVMU finished 18.5 points from its own, so EVMU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are ETHU and EVMU levered on the same thing?
- Yes. Both are levered on ether, ETHU at +2 times and EVMU at +2 times the daily move.
- Which one decays faster, ETHU or EVMU?
- Decay follows how much the underlying moves about. Over this window ETHU’s moved at 48% annualized and EVMU’s at 48%, so ETHU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold ETHU or EVMU 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, ETHU against EVMU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ethu-vs-evmu
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, ETHU against EVMU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ethu-vs-evmu Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, ETHU against EVMU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ethu-vs-evmu
- APA
- ETFIQ. (Sep 30, 2026). ETHU against EVMU. Retrieved from https://etfiq.com/compare/leverage/ethu-vs-evmu
- Markdown
- [ETHU against EVMU (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/ethu-vs-evmu)