Which came closer to its stated multiple, HYGD or HYGU?

Over the window to Sep 30, 2026, HYGD finished 0.5 points from what its multiple implies and HYGU finished 1.0 points from its own, so HYGD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are HYGD and HYGU levered on the same thing?

Yes. Both are levered on high-yield bonds, HYGD at -3 times and HYGU at +3 times the daily move.

Which one decays faster, HYGD or HYGU?

Decay follows how much the underlying moves about. Over this window HYGD’s moved at 4% annualized and HYGU’s at 4%, so HYGD has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold HYGD or HYGU 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.

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HYGD vs HYGU: which held to its multiple?

Over a month against its own daily promise, HYGD finished 0.2 points over and HYGU 1.1 points short. MicroSectors -3x Short High Yield Corporate Bond (HYG) ETNs and MicroSectors 3x Long High Yield Corporate Bond (HYG) ETNs.

+7.9%

HYGD returned, since launch

−9.2%

HYGU returned, since launch

+0.8 pts

HYGD from its stated multiple

−2.1 pts

HYGU from its stated multiple

HYGD · 1 month to Sep 30, 2026On its stated multiple

HYGD returned +8.7% while −3 times HYG's move would have been +8.2%

HYGU · 1 month to Sep 30, 20261 pt short of its stated multiple

HYGU returned −9.2% while 3 times HYG's move would have been −8.2%

Performance, window by window

	Total return		Multiple would give		Difference
Window	HYGD	HYGU	HYGD	HYGU	HYGD	HYGU
1 month	+8.7%	−9.2%	+8.2%	−8.2%	+0.5 pts	−1.0 pts
Since launch HYGD Aug 2026 · HYGU Aug 2026	+7.9%	−9.2%	+7.1%	−7.1%	+0.8 pts	−2.1 pts

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

On the same fields

HYGD

MicroSectors -3x Short High Yield Corporate Bond (HYG) ETNs · Aims to return three times the opposite of the daily move of high-yield bonds (HYG)

HYGU

MicroSectors 3x Long High Yield Corporate Bond (HYG) ETNs · Aims to return three times the daily move of high-yield bonds (HYG)

Issuer MicroSectors MicroSectors

Sets out to return -3x +3x

Underlying asset HYG HYG

Segment index index

Fund returned, 3 months or since launch +8.7% −9.2%

Underlying returned, over that window −2.7% −2.7%

What the stated multiple implies, over that window +8.2% −8.2%

Difference from stated, over that window +0.5 pts −1.0 pts

Fund returned, 1 year or since launch +7.9% −9.2%

Difference from stated, over that window +0.8 pts −2.1 pts

Underlying volatility 4% 4%

Expense ratio not published not published

Launched Aug 11, 2026 Aug 11, 2026

Net assets not published not published

HYGD and HYGU on the same fields, as of Sep 30, 2026. Source: ETFIQ.

HYGD in plain words

One month to Sep 30, 2026: HYGD returned +8.7% where its own daily promise gave +8.5%, 0.2 points over. Read the multiple against the whole window instead and −3 times HYG's −2.7% implies +8.2%, which makes HYGD look 0.5 points over. 0.3 of that is daily compounding, which happens to any −3 times fund over the same path, and the rest is the fund. HYGD aims to return -3 times HYG's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -3 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. HYG moved at 4% 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.

HYGU in plain words

One month to Sep 30, 2026: HYGU returned −9.2% where its own daily promise gave −8.0%, 1.1 points short. Read the multiple against the whole window instead and 3 times HYG's −2.7% implies −8.2%, which makes HYGU look 1.0 points short. 0.2 of that is daily compounding, which happens to any 3 times fund over the same path, and the rest is the fund. HYGU aims to return +3 times HYG's move each day, then resets. Over longer, the daily results compound, so the total is not +3 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.

Questions people ask

Which came closer to its stated multiple, HYGD or HYGU?: Over the window to Sep 30, 2026, HYGD finished 0.5 points from what its multiple implies and HYGU finished 1.0 points from its own, so HYGD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are HYGD and HYGU levered on the same thing?: Yes. Both are levered on high-yield bonds, HYGD at -3 times and HYGU at +3 times the daily move.
Which one decays faster, HYGD or HYGU?: Decay follows how much the underlying moves about. Over this window HYGD’s moved at 4% annualized and HYGU’s at 4%, so HYGD has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold HYGD or HYGU 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.

Other comparisons

HYG →HYGD on its own →HYGU on its own →How every figure is computed →Standards and sources →

Where these figures came from

MicroSectors 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, HYGD against HYGU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/hygd-vs-hygu

Open data

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