Which came closer to its stated multiple, FBX or METQ?

Over the window to Sep 30, 2026, FBX finished 8.1 points from what its multiple implies and METQ finished 10.8 points from its own, so FBX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are FBX and METQ levered on the same thing?

Yes. Both are levered on Meta Platforms, FBX at +2 times and METQ at -2 times the daily move.

Which one decays faster, FBX or METQ?

Decay follows how much the underlying moves about. Over this window FBX’s moved at 49% annualized and METQ’s at 55%, so METQ has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold FBX or METQ 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, FBX or METQ?

FBX charges 0.45% a year and METQ charges 1.49%, so FBX is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

FBX vs METQ: which held to its multiple?

Over a month against its own daily promise, FBX finished 1.2 points short and METQ 0.2 points over. Corgi META 2x Daily ETF and Tradr 2X Short META Daily ETF.

+28.7%

FBX returned, 3 months

−48.5%

METQ returned, since launch

−8.1 pts

FBX from its stated multiple

+18.5 pts

METQ from its stated multiple

FBX · 3 months to Sep 30, 20268.1 pts short of its stated multiple

FBX returned +28.7% while 2 times META's move would have been +36.8%

METQ · 1 month to Sep 30, 202610.8 pts ahead of its stated multiple

METQ returned −42.8% while −2 times META's move would have been −53.6%

Performance, window by window

	Total return		Multiple would give		Difference
Window	FBX	METQ	FBX	METQ	FBX	METQ
1 month	+55.6%	−42.8%	+53.6%	−53.6%	+2.0 pts	+10.8 pts
3 months	+28.7%	not published	+36.8%	not published	−8.1 pts	not published
Since launch FBX Jun 2026 · METQ Aug 2026	+51.2%	−48.5%	+57.7%	−67.0%	−6.4 pts	+18.5 pts

FBX and METQ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

FBX

Corgi META 2x Daily ETF · Aims to return twice the daily move of Meta Platforms (META)

METQ

Tradr 2X Short META Daily ETF · Aims to return twice the opposite of the daily move of Meta Platforms (META)

Issuer Corgi Tradr

Sets out to return +2x -2x

Underlying asset META META

Segment company company

Fund returned, 3 months or since launch +28.7% −42.8%

Underlying returned, over that window +18.4% +26.8%

What the stated multiple implies, over that window +36.8% −53.6%

Difference from stated, over that window −8.1 pts +10.8 pts

Fund returned, 1 year or since launch +51.2% −48.5%

Difference from stated, over that window −6.4 pts +18.5 pts

Underlying volatility 49% 55%

Difference over the days both have traded +2.0 pts no shared window

Expense ratio 0.45% 1.49%

Launched Jun 30, 2026 Aug 18, 2026

Net assets $608,284 $8m

FBX and METQ on the same fields, as of Sep 30, 2026. Source: ETFIQ.

FBX in plain words

Three months to Sep 30, 2026: FBX returned +28.7% where its own daily promise gave +32.2%, 3.5 points short. Read the multiple against the whole window instead and 2 times META's 18.4% implies +36.8%, which makes FBX look 8.1 points short. 4.6 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. FBX aims to return +2 times META'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. META moved at 49% 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.

METQ in plain words

One month to Sep 30, 2026: METQ returned −42.8% where its own daily promise gave −43.0%, 0.2 points over. Read the multiple against the whole window instead and −2 times META's 26.8% implies −53.6%, which makes METQ look 10.8 points over. 10.5 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. METQ aims to return -2 times META'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. META moved at 55% annualized over that window.

Questions people ask

Which came closer to its stated multiple, FBX or METQ?: Over the window to Sep 30, 2026, FBX finished 8.1 points from what its multiple implies and METQ finished 10.8 points from its own, so FBX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are FBX and METQ levered on the same thing?: Yes. Both are levered on Meta Platforms, FBX at +2 times and METQ at -2 times the daily move.
Which one decays faster, FBX or METQ?: Decay follows how much the underlying moves about. Over this window FBX’s moved at 49% annualized and METQ’s at 55%, so METQ has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold FBX or METQ 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, FBX or METQ?: FBX charges 0.45% a year and METQ charges 1.49%, so FBX is cheaper. Fees come from each fund's prospectus.

Other comparisons

FBX vs METD FBX vs METG FBX vs METU FBX vs FBL METQ vs METU METQ vs METD METQ vs METG METQ vs FBL

FBX on its own →METQ on its own →How every figure is computed →Standards and sources →

Where these figures came from

FBX filings on SEC EDGAR ↗FBX prospectus with the expense ratio (SEC) ↗Corgi website ↗METQ filings on SEC EDGAR ↗METQ prospectus with the expense ratio (SEC) ↗Tradr 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, FBX against METQ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/fbx-vs-metq

Open data

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