{"url":"https://etfiq.com/compare/leverage/msfd-vs-msfl","section":"compare","title":"MSFD vs MSFL: which held to its multiple? | ETFIQ","description":"MSFD sets out to return -1 times MSFT each day and MSFL +2 times. Over the three months to Sep 30, 2026 they finished +6.5 pts and +0.8 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, MSFD or MSFL?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, MSFD finished 6.5 points from what its multiple implies and MSFL finished 0.8 points from its own, so MSFL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are MSFD and MSFL levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Microsoft, MSFD at -1 times and MSFL at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, MSFD or MSFL?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window MSFD\u2019s moved at 39% annualized and MSFL\u2019s at 39%, so MSFD has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold MSFD or MSFL 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, MSFD or MSFL?","acceptedAnswer":{"@type":"Answer","text":"MSFD charges 1.02% a year and MSFL charges 1.15%, so MSFD 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":"MSFD vs MSFL","item":"https://etfiq.com/compare/leverage/msfd-vs-msfl"}]},{"@type":"WebPage","name":"MSFD vs MSFL: which held to its multiple?","description":"MSFD sets out to return -1 times MSFT each day and MSFL +2 times. Over the three months to Sep 30, 2026 they finished +6.5 pts and +0.8 pts away.","url":"https://etfiq.com/compare/leverage/msfd-vs-msfl","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, MSFD finished 1.0 points over and MSFL 4.6 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 MSFD and MSFL","description":"MSFD sets out to return -1 times MSFT each day and MSFL +2 times. Over the three months to Sep 30, 2026 they finished +6.5 pts and +0.8 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/msfd-vs-msfl","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":7191,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / MSFD vs MSFL \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n MSFD vs MSFL: which held to its multiple?\n\n Over three months against its own daily promise, MSFD finished 1.0 points over and MSFL 4.6 points short.\n Copy this for sharing \n \n Direxion Daily MSFT Bear 1X ETF and GraniteShares 2x Long MSFT Daily ETF.\n\n Download as PDF \n\n \u221227.2% MSFD returned, 3 months \n +68.3% MSFL returned, 3 months \n +6.5 pts MSFD from its stated multiple \n +0.8 pts MSFL from its stated multiple \n\n ETFIQ Decay Resistance Score: MSFD scores higher\n Did ","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/msfd-vs-msfl","a":{"ticker":"MSFD","name":"Direxion Daily MSFT Bear 1X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: MSFD returned \u221227.2% where its own daily promise gave \u221228.2%, 1.0 points over.","url":"https://etfiq.com/funds/msfd","key_facts":[{"label":"What MSFT did","value":"+33.7%","as_of":"2026-09-30","source":null},{"label":"What \u22121 times a day gives","value":"\u221228.2%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221227.2%","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":"$8m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.02%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"b":{"ticker":"MSFL","name":"GraniteShares 2x Long MSFT Daily ETF","issuer":"GraniteShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: MSFL returned +68.3% where its own daily promise gave +72.9%, 4.6 points short.","url":"https://etfiq.com/funds/msfl","key_facts":[{"label":"What MSFT did","value":"+33.7%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+72.9%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+68.3%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22124.6 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$67m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.15%","as_of":"2026-09-30","source":"485BPOS XBRL, Oct 24, 2025"}]},"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/msfd-vs-msfl"}