PLTU vs PLTZ: which held to its multiple?
Over three months against its own daily promise, PLTU finished 4.7 points short and PLTZ 0.1 points short. Direxion Daily PLTR Bull 2X ETF and Defiance Daily Target 2X Short PLTR ETF.
PLTU returned +93.9% while 2 times PLTR's move would have been +97.5%
PLTZ returned −74.0% while −2 times PLTR's move would have been −97.5%
PLTU among the 470 leveraged ETFs, long, over three months
PLTZ among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. PLTZ is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | PLTU | PLTZ | PLTU | PLTZ | PLTU | PLTZ |
| 1 month | −1.7% | −6.2% | +0.7% | −0.7% | −2.4 pts | −5.4 pts |
| 3 months | +93.9% | −74.0% | +97.5% | −97.5% | −3.6 pts | +23.5 pts |
| 6 months | +27.8% | −72.7% | +55.4% | −55.4% | −27.6 pts | −17.4 pts |
| 1 year | −32.7% | −72.3% | +5.1% | −5.1% | −37.8 pts | −67.2 pts |
| Since launch PLTU Dec 2024 · PLTZ Jun 2025 | +164.7% | −88.6% | not meaningful | −92.9% | not meaningful | +4.3 pts |
PLTU and PLTZ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
PLTU and PLTZ on the same fields, as of Sep 30, 2026. Source: ETFIQ.
PLTU in plain words
Three months to Sep 30, 2026: PLTU returned +93.9% where its own daily promise gave +98.7%, 4.7 points short. Read the multiple against the whole window instead and 2 times PLTR's 48.8% implies +97.5%, which makes PLTU look 3.6 points short. 1.1 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. PLTU aims to return +2 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 +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. PLTR moved at 75% 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.
PLTZ in plain words
Three months to Sep 30, 2026: PLTZ returned −74.0% where its own daily promise gave −73.9%, 0.1 points short. Read the multiple against the whole window instead and −2 times PLTR's 48.8% implies −97.5%, which makes PLTZ look 23.5 points over. 23.6 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. 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.
Questions people ask
- Which came closer to its stated multiple, PLTU or PLTZ?
- Over the window to Sep 30, 2026, PLTU finished 3.6 points from what its multiple implies and PLTZ finished 23.5 points from its own, so PLTU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are PLTU and PLTZ levered on the same thing?
- Yes. Both are levered on Palantir Technologies, PLTU at +2 times and PLTZ at -2 times the daily move.
- Which one decays faster, PLTU or PLTZ?
- Decay follows how much the underlying moves about. Over this window PLTU’s moved at 75% annualized and PLTZ’s at 75%, so PLTU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold PLTU 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. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, PLTU against PLTZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/pltu-vs-pltz
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, PLTU against PLTZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/pltu-vs-pltz Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, PLTU against PLTZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/pltu-vs-pltz
- APA
- ETFIQ. (Sep 30, 2026). PLTU against PLTZ. Retrieved from https://etfiq.com/compare/leverage/pltu-vs-pltz
- Markdown
- [PLTU against PLTZ (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/pltu-vs-pltz)