Data as of Nov 12, 2026.
HYNX vs SKHZ: Leverage, Returns & Decay
Return, fees and overlap, side by side.
Pair scorecard
SKHZ costs 0.50 points a year less; HYNX is 5.8 times larger.
Points (pts) are percentage points.
| Measure | HYNX | SKHZ |
|---|---|---|
| Return | ||
| What its daily multiple gave, 3 months | −40.5% | 4.2% |
| Benchmark | ||
| What it tracks | SK HYNIX | SK Hynix |
| Cost and size | ||
| Expense ratio | 1.25% | 0.75% |
| Net assets, as of Nov 11, 2026 | $26m | $4.5m |
| Holdings | ||
| Holdings in common | not published | |
HYNX among the 498 leveraged ETFs at 2x, over three months
How closely it delivered its daily multiple over 3 months, ranked against 498 leveraged ETFs at 2x, over three months and 35 inverse ETFs at 1x, over three months. 100 is best. How it is computed
SKHZ among the 35 inverse ETFs at 1x, over three months
A percentile among the 498 leveraged ETFs at 2x, over three months. SKHZ is a percentile among the 35 inverse ETFs at 1x, over three months, a different set, so the two marks are not on one scale. 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.SKHZ returned +4.4% while −1 times SKHY's move would have been +16.9%. Data from Aug 13, 2026 to Nov 12, 2026.
SKHZ returned +4.4% while −1 times SKHY's move would have been +16.9%. 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 | SKHZ | HYNX | SKHZ | HYNX | SKHZ |
| 1 month | −30.5% | +4.9% | −24.6% | +12.3% | −5.9 pts | −7.4 pts |
| 3 months | −42.6% | +4.4% | −33.8% | +16.9% | −8.8 pts | −12.5 pts |
| Since launchHYNX Jul 2026 · SKHZ Jul 2026 | −63.9% | +6.1% | −58.0% | +29.0% | −5.9 pts | −22.9 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, SKHZ returned 4.4%, against 4.2% for the inverse of SKHY's daily moves.
Read the multiple against the whole window instead and −1 times SKHY's −16.9% implies +16.9%, which makes SKHZ look 12.5 points short. Of that 12.5, daily compounding is −12.7 points, which any −1 times fund would show over the same path, and the fund itself is +0.2 points against −1 times each day's move, compounded. SKHZ aims to return -1 times SKHY's move each day, then resets. Over longer periods the daily results compound, so the total is not -1 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run.
Questions people ask
- Which came closer to its daily multiple, HYNX or SKHZ?
- Over the window to Nov 12, 2026, HYNX finished 8.8 points from what its multiple implies and SKHZ finished 12.5 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 SKHZ levered on the same thing?
- Yes. Both are levered on SK hynix, HYNX at +2 times and SKHZ at -1 times the daily move.
- Which one decays faster, HYNX or SKHZ?
- Decay follows how much the underlying moves about. Over this window HYNX’s moved at 75% annualized and SKHZ’s at 75%, so HYNX has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold HYNX or SKHZ 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 SKHZ, data as of Nov 12, 2026. https://etfiq.com/compare/leverage/hynx-vs-skhz
ETFIQ. (Nov 12, 2026). HYNX against SKHZ. Retrieved from https://etfiq.com/compare/leverage/hynx-vs-skhz
[HYNX against SKHZ (ETFIQ, Nov 12, 2026)](https://etfiq.com/compare/leverage/hynx-vs-skhz)
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 $4.5m for Leverage Shares 1X Short SK Hynix Daily ETF.
HYNX and SKHZ
Total return, distributions reinvested, 3 months.
HYNX −42.6%, SKHZ +4.4%: SKHZ +47.0 pts ahead, 3 months, Aug 13, 2026 to Nov 12, 2026.