{"url":"https://etfiq.com/compare/leverage/lofd-vs-spal","section":"compare","title":"LOFD vs SPAL: which held to its multiple? | ETFIQ","description":"LOFD sets out to return -2 times SPCX each day and SPAL +2 times. Over the month to Sep 30, 2026 they finished \u22122.7 pts and \u22122.2 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, LOFD or SPAL?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, LOFD finished 2.7 points from what its multiple implies and SPAL finished 12.6 points from its own, so LOFD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are LOFD and SPAL levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Space Exploration Technologies, LOFD at -2 times and SPAL at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, LOFD or SPAL?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window LOFD\u2019s moved at 44% annualized and SPAL\u2019s at 70%, so SPAL has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold LOFD or SPAL 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, LOFD or SPAL?","acceptedAnswer":{"@type":"Answer","text":"LOFD charges 0.97% a year and SPAL charges 1.50%, so LOFD 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":"LOFD vs SPAL","item":"https://etfiq.com/compare/leverage/lofd-vs-spal"}]},{"@type":"WebPage","name":"LOFD vs SPAL: which held to its multiple?","description":"LOFD sets out to return -2 times SPCX each day and SPAL +2 times. Over the month to Sep 30, 2026 they finished \u22122.7 pts and \u22122.2 pts away.","url":"https://etfiq.com/compare/leverage/lofd-vs-spal","dateModified":"2026-09-30","abstract":"Over a month against its own daily promise, LOFD finished 1.0 points over and SPAL 0.7 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 LOFD and SPAL","description":"LOFD sets out to return -2 times SPCX each day and SPAL +2 times. Over the month to Sep 30, 2026 they finished \u22122.7 pts and \u22122.2 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/lofd-vs-spal","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":6476,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / LOFD vs SPAL \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n LOFD vs SPAL: which held to its multiple?\n\n Over a month against its own daily promise, LOFD finished 1.0 points over and SPAL 0.7 points short.\n Copy this for sharing \n \n Direxion Daily SpaceX Bear 2X ETF and GraniteShares 2x Long SpaceX Daily ETF.\n\n Download as PDF \n\n \u221251.5% LOFD returned, since launch \n \u221221.1% SPAL returned, 3 months \n +11.0 pts LOFD from its stated multiple \n \u221212.6 pts SPAL from its stated multiple \n\n LOFD 2.7 pts short of its stated multiple \u00b7 1 mon","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/lofd-vs-spal","a":{"ticker":"LOFD","name":"Direxion Daily SpaceX Bear 2X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"One month to Sep 30, 2026: LOFD returned \u221212.7% where its own daily promise gave \u221213.6%, 1.0 points over.","url":"https://etfiq.com/funds/lofd","key_facts":[{"label":"What SPCX did","value":"+5.0%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221213.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221212.7%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.0 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$2m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.97%","as_of":"2026-09-30","source":"485BPOS XBRL, Jun 8, 2026"}]},"b":{"ticker":"SPAL","name":"GraniteShares 2x Long SpaceX Daily ETF","issuer":"GraniteShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SPAL returned \u221221.1% where its own daily promise gave \u221218.6%, 2.4 points short.","url":"https://etfiq.com/funds/spal","key_facts":[{"label":"What SPCX did","value":"\u22124.2%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221218.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221221.1%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$38m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.50%","as_of":"2026-09-30","source":"485BPOS XBRL, Jun 12, 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/lofd-vs-spal"}