{"url":"https://etfiq.com/compare/leverage/fxp-vs-xpp","section":"compare","title":"FXP vs XPP: which held to its multiple? | ETFIQ","description":"FXP sets out to return -2 times FXI each day and XPP +2 times. Over the three months to Sep 30, 2026 they finished +2.0 pts and \u22121.9 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, FXP or XPP?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, FXP finished 2.0 points from what its multiple implies and XPP finished 1.9 points from its own, so XPP came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are FXP and XPP levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on iShares China Large-Cap ETF, FXP at -2 times and XPP at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, FXP or XPP?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window FXP\u2019s moved at 17% annualized and XPP\u2019s at 17%, so FXP has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold FXP or XPP 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, FXP or XPP?","acceptedAnswer":{"@type":"Answer","text":"FXP charges 0.95% a year and XPP charges 0.95%, so FXP 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":"FXP vs XPP","item":"https://etfiq.com/compare/leverage/fxp-vs-xpp"}]},{"@type":"WebPage","name":"FXP vs XPP: which held to its multiple?","description":"FXP sets out to return -2 times FXI each day and XPP +2 times. Over the three months to Sep 30, 2026 they finished +2.0 pts and \u22121.9 pts away.","url":"https://etfiq.com/compare/leverage/fxp-vs-xpp","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, FXP finished 2.8 points over and XPP 1.5 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of FXP and XPP","description":"FXP sets out to return -2 times FXI each day and XPP +2 times. Over the three months to Sep 30, 2026 they finished +2.0 pts and \u22121.9 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/fxp-vs-xpp","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":7061,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / FXP vs XPP \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n FXP vs XPP: which held to its multiple?\n\n Over three months against its own daily promise, FXP finished 2.8 points over and XPP 1.5 points short.\n Copy this for sharing \n \n ProShares UltraShort FTSE China 50 and ProShares Ultra FTSE China 50.\n\n Download as PDF \n\n \u221210.8% FXP returned, 3 months \n +10.9% XPP returned, 3 months \n +2.0 pts FXP from its stated multiple \n \u22121.9 pts XPP from its stated multiple \n\n ETFIQ Decay Resistance Score: XPP scores higher\n Did it keep up with","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/fxp-vs-xpp","a":{"ticker":"FXP","name":"ProShares UltraShort FTSE China 50","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: FXP returned \u221210.8% where its own daily promise gave \u221213.7%, 2.8 points over.","url":"https://etfiq.com/funds/fxp","key_facts":[{"label":"What FXI did","value":"+6.4%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221213.7%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221210.8%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+2.8 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$6m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"b":{"ticker":"XPP","name":"ProShares Ultra FTSE China 50","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: XPP returned +10.9% where its own daily promise gave +12.4%, 1.5 points short.","url":"https://etfiq.com/funds/xpp","key_facts":[{"label":"What FXI did","value":"+6.4%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+12.4%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+10.9%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.5 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$8m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 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/fxp-vs-xpp"}