PLTD vs PLTZ: which held to its multiple?
Over three months against its own daily promise, PLTD finished 0.8 points over and PLTZ 0.1 points short. Direxion Daily PLTR Bear 1X ETF and Defiance Daily Target 2X Short PLTR ETF.
PLTD costs 0.33 points a year less; their one-year returns differ by 43.2 points; PLTZ is 1.1 times larger.
| PLTD | PLTZ | |
|---|---|---|
| Expense ratio | 0.98% | 1.31% |
| Net assets, as of Oct 8, 2026 | $29m | $32m |
| Total return, 1 year | −33.6% | −76.8% |
| What it tracks | PLTR | PLTR |
| Holdings in common | not published | |
| What its daily multiple gave, 3 months | −47.8% | −36.0% |
| What the underlying did, 3 months | PLTR 64.9% | PLTR 23.3% |
| The multiple over the whole window | −1 times gives −64.9% | −2 times gives −46.6% |
| Against the whole-window multiple | 18.0 points over | 10.5 points over |
A percentile among the 128 inverse ETFs over three months. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | PLTD | PLTZ | PLTD | PLTZ | PLTD | PLTZ |
| 1 month | −19.1% | −36.1% | −23.3% | −46.6% | +4.3 pts | +10.5 pts |
| 3 months | −46.9% | −78.9% | −64.9% | not meaningful | +18.0 pts | not meaningful |
| 6 months | −49.2% | −83.0% | −63.2% | not meaningful | +14.1 pts | not meaningful |
| 1 year | −33.6% | −76.8% | −12.7% | −25.4% | −20.9 pts | −51.4 pts |
| Since launch PLTD Dec 2024 · PLTZ Jun 2025 | −81.5% | −91.0% | not meaningful | not meaningful | not meaningful | not meaningful |
Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
PLTD in plain words
Three months to Oct 9, 2026: PLTD returned −46.9% where its own daily promise gave −47.8%, 0.8 points over. Read the multiple against the whole window instead and −1 times PLTR's 64.9% implies −64.9%, which makes PLTD look 18.0 points over. PLTD aims to return -1 times PLTR's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -1 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. PLTR moved at 74% 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.
That 18.0 is two pieces: daily compounding, +17.2 points, which happens to any −1 times fund over the same path, and the fund itself, +0.8 points against its own daily promise.
PLTZ in plain words
One month to Oct 9, 2026: PLTZ returned −36.1% where its own daily promise gave −36.0%, 0.1 points short. Read the multiple against the whole window instead and −2 times PLTR's 23.3% implies −46.6%, which makes PLTZ look 10.5 points over. PLTZ aims to return -2 times PLTR's move each day, then resets. Over longer, the daily results compound, so the total is not -2 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.
That 10.5 is two pieces: daily compounding, +10.6 points, which happens to any −2 times fund over the same path, and the fund itself, −0.1 points against its own daily promise. PLTR moved at 28% annualized over that window.
Questions people ask
- Are PLTD and PLTZ levered on the same thing?
- Yes. Both are levered on Palantir Technologies, PLTD at -1 times and PLTZ at -2 times the daily move.
- Which one decays faster, PLTD or PLTZ?
- Decay follows how much the underlying moves about. Over this window PLTD’s moved at 74% annualized and PLTZ’s at 74%, so PLTD has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold PLTD or PLTZ 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.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
It is a position in a set, not a rating, and neither end of it is a recommendation.
Every figure is an ETFIQ calculation with distributions reinvested.
ETFIQ, PLTD against PLTZ, data as of Oct 9, 2026. https://etfiq.com/compare/leverage/pltd-vs-pltz
ETFIQ. (Oct 9, 2026). PLTD against PLTZ. Retrieved from https://etfiq.com/compare/leverage/pltd-vs-pltz
[PLTD against PLTZ (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/leverage/pltd-vs-pltz)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.