Data as of Nov 12, 2026.
HYNX vs SKHL: Leverage, Returns & Decay
Return, fees and overlap, side by side.
Pair scorecard
SKHL costs 0.28 points a year less; SKHL is 1.3 times larger.
Points (pts) are percentage points.
| Measure | HYNX | SKHL |
|---|---|---|
| Return | ||
| What its daily multiple gave, 3 months | −40.5% | −40.5% |
| Benchmark | ||
| What it tracks | SK HYNIX | SK Hynix |
| Cost and size | ||
| Expense ratio | 1.25% | 0.97% |
| Net assets, as of Nov 11, 2026 | $26m | $35m |
| Holdings | ||
| Holdings in common | not published | |
How closely it delivered its daily multiple over 3 months, ranked against 498 leveraged ETFs at 2x, over three months. 100 is best. How it is computed
Three months only, against the fund's own daily multiple; a different quarter can rank it very differently. All leveraged ETFs ranked by it →
HYNX returned −42.6% while 2 times SKHY's move would have been −33.8%. Data from Aug 13, 2026 to Nov 12, 2026.
HYNX returned −42.6% while 2 times SKHY's move would have been −33.8%. Data from Aug 13, 2026 to Nov 12, 2026.SKHL returned −42.7% while 2 times SKHY's move would have been −33.8%. Data from Aug 13, 2026 to Nov 12, 2026.
Data from Aug 13, 2026 to Nov 12, 2026.Side by side
As of Nov 12, 2026. Source: ETFIQ.
Window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | HYNX | SKHL | HYNX | SKHL | HYNX | SKHL |
| 1 month | −30.5% | −30.5% | −24.6% | −24.6% | −5.9 pts | −5.9 pts |
| 3 months | −42.6% | −42.7% | −33.8% | −33.8% | −8.8 pts | −8.9 pts |
| Since launchNot the same days: HYNX Jul 2026 · SKHL Jul 2026 | −63.9% | −55.9% | −58.0% | −43.8% | −5.9 pts | −12.1 pts |
Over the three months to Nov 12, 2026, HYNX lost 42.6%, against −40.5% for twice SKHY's daily moves.
Read the multiple against the whole window instead and 2 times SKHY's −16.9% implies −33.8%, which makes HYNX look 8.8 points short. That is not the fund's objective, which is daily. Of that 8.8, daily compounding is −6.7 points, which any 2 times fund would show over the same path, and the fund itself is −2.1 points against 2 times each day's move, compounded. HYNX aims to return +2 times SKHY's move each day, then resets. Over one day it does that. Over longer periods the daily results compound, so the total is not +2 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run. SKHY moved at 75% annualized over that window. The more it moves, the further the two numbers separate.
Over the three months to Nov 12, 2026, SKHL lost 42.7%, against −40.5% for twice SKHY's daily moves.
Read the multiple against the whole window instead and 2 times SKHY's −16.9% implies −33.8%, which makes SKHL look 8.9 points short. Of that 8.9, daily compounding is −6.7 points, which any 2 times fund would show over the same path, and the fund itself is −2.2 points against 2 times each day's move, compounded. SKHL aims to return +2 times SKHY's move each day, then resets.
Questions people ask
- Which came closer to its daily multiple, HYNX or SKHL?
- Over the window to Nov 12, 2026, HYNX finished 8.8 points from what its multiple implies and SKHL finished 8.9 points from its own, so HYNX came closer. Neither number predicts the next window: it depends on how much the underlying moves about.
- Are HYNX and SKHL levered on the same thing?
- Yes. Both are levered on SK hynix, HYNX at +2 times and SKHL at +2 times the daily move.
- Which one decays faster, HYNX or SKHL?
- Decay follows how much the underlying moves about. Over this window HYNX’s moved at 75% annualized and SKHL’s at 75%, so HYNX has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold HYNX or SKHL for a year?
- Both reset every day, so the multiple in the name applies to a single day, and daily results compound. Over a year the total is not the multiple times the year’s move; after a fall and recovery it is lower.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, HYNX against SKHL, data as of Nov 12, 2026. https://etfiq.com/compare/leverage/hynx-vs-skhl
ETFIQ. (Nov 12, 2026). HYNX against SKHL. Retrieved from https://etfiq.com/compare/leverage/hynx-vs-skhl
[HYNX against SKHL (ETFIQ, Nov 12, 2026)](https://etfiq.com/compare/leverage/hynx-vs-skhl)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.
Net assets on Nov 11, 2026: $26m for T-REX 2X Long SKHY Daily Target ETF and $35m for Direxion Daily SK Hynix Bull 2X ETF.
HYNX and SKHL
Total return, distributions reinvested, 3 months.
HYNX −42.6%, SKHL −42.7%: HYNX +0.1 pts ahead, 3 months, Aug 13, 2026 to Nov 12, 2026.