Which came closer to its stated multiple, ETU or EVMU?

Over the window to Sep 30, 2026, ETU finished 21.2 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 ETU and EVMU levered on the same thing?

Yes. Both are levered on ether, ETU at +2 times and EVMU at +2 times the daily move.

Which one decays faster, ETU or EVMU?

Decay follows how much the underlying moves about. Over this window ETU’s moved at 48% annualized and EVMU’s at 48%, so ETU has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold ETU 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.

Which is cheaper, ETU or EVMU?

ETU charges 0.95% a year and EVMU charges 1.03%, so ETU is cheaper. Fees come from each fund's prospectus.

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ETU vs EVMU: which held to its multiple?

Over the days both have traded, ETU finished 21.2 points from its stated multiple and EVMU 18.5. T-Rex 2X Long Ether Daily Target ETF and Direxion Daily Ether Bull 2X ETF.

+151.3%

ETU returned, 3 months

+148.6%

EVMU returned, 3 months

+21.2 pts

ETU from its stated multiple

+18.5 pts

EVMU from its stated multiple

ETU · 3 months to Sep 30, 202621.2 pts ahead of its stated multiple

ETU returned +151.3% while 2 times ETHA's move would have been +130.1%

EVMU · 3 months to Sep 30, 202618.5 pts ahead of its stated multiple

EVMU returned +148.6% while 2 times ETHA's move would have been +130.1%

ETFIQ Decay Resistance Score · ETU scores higherDid it keep up with its own daily multiple, compounded day by day?

ETU 8.3

EVMU 2.9

0.1, the lowest in this set99.9, the highest

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	ETU	EVMU	ETU	EVMU	ETU	EVMU
1 month	+13.3%	+12.4%	+15.0%	+15.0%	−1.7 pts	−2.6 pts
3 months	+151.3%	+148.6%	+130.1%	+130.1%	+21.2 pts	+18.5 pts
6 months	+28.6%	not published	+49.0%	not published	−20.4 pts	not published
1 year	−76.8%	not published	−72.3%	not published	−4.5 pts	not published
Since launch ETU Oct 2024 · EVMU May 2026	−68.9%	+44.4%	+9.0%	+59.9%	−77.9 pts	−15.4 pts

ETU 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

ETU

T-Rex 2X Long Ether Daily Target ETF · Aims to return twice the daily move of ether (ETHA)

EVMU

Direxion Daily Ether Bull 2X ETF · Aims to return twice the daily move of ether (ETHA)

Issuer T-REX Direxion

Sets out to return +2x +2x

Underlying asset ETHA ETHA

Segment crypto crypto

Fund returned, 3 months or since launch +151.3% +148.6%

Underlying returned, over that window +65.0% +65.0%

What the stated multiple implies, over that window +130.1% +130.1%

Difference from stated, over that window +21.2 pts +18.5 pts

Fund returned, 1 year or since launch −76.8% +44.4%

Difference from stated, over that window −4.5 pts −15.4 pts

Underlying volatility 48% 48%

Difference over the days both have traded +21.2 pts +18.5 pts

Expense ratio 0.95% 1.03%

Launched Oct 24, 2024 May 27, 2026

Net assets $18m $3m

ETU and EVMU on the same fields, as of Sep 30, 2026. Source: ETFIQ.

ETU in plain words

Three months to Sep 30, 2026: ETU returned +151.3% where its own daily promise gave +157.5%, 6.2 points short. Read the multiple against the whole window instead and 2 times ETHA's 65.0% implies +130.1%, which makes ETU look 21.2 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. ETU 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, ETU or EVMU?: Over the window to Sep 30, 2026, ETU finished 21.2 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 ETU and EVMU levered on the same thing?: Yes. Both are levered on ether, ETU at +2 times and EVMU at +2 times the daily move.
Which one decays faster, ETU or EVMU?: Decay follows how much the underlying moves about. Over this window ETU’s moved at 48% annualized and EVMU’s at 48%, so ETU has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold ETU 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.
Which is cheaper, ETU or EVMU?: ETU charges 0.95% a year and EVMU charges 1.03%, so ETU is cheaper. Fees come from each fund's prospectus.

Other comparisons

ETU vs ETHD ETU vs ETHT ETU vs ETHU ETU vs SETH EVMU vs ETHD EVMU vs ETHT EVMU vs ETHU EVMU vs SETH

ETHA →ETU on its own →EVMU on its own →How every figure is computed →Standards and sources →

Where these figures came from

ETU filings on SEC EDGAR ↗ETU prospectus with the expense ratio (SEC) ↗T-REX page for ETU ↗EVMU filings on SEC EDGAR ↗EVMU prospectus with the expense ratio (SEC) ↗Direxion website ↗

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.

Cite this page

ETFIQ, ETU against EVMU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/etu-vs-evmu

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.