Which came closer to its stated multiple, PYPG or PYPU?

Over the window to Sep 30, 2026, PYPG finished 9.5 points from what its multiple implies and PYPU finished 9.2 points from its own, so PYPU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are PYPG and PYPU levered on the same thing?

Yes. Both are levered on PayPal, PYPG at +2 times and PYPU at +2 times the daily move.

Which one decays faster, PYPG or PYPU?

Decay follows how much the underlying moves about. Over this window PYPG’s moved at 51% annualized and PYPU’s at 51%, so PYPG has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold PYPG or PYPU 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.

Which is cheaper, PYPG or PYPU?

PYPG charges 0.77% a year and PYPU charges 0.97%, so PYPG is cheaper. Fees come from each fund's prospectus.

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PYPG vs PYPU: which held to its multiple?

Over the days both have traded, PYPG finished 9.5 points from its stated multiple and PYPU 9.2. Leverage Shares 2X Long PYPL Daily ETF and Direxion Daily PYPL Bull 2X ETF.

+29.5%

PYPG returned, 3 months

+29.8%

PYPU returned, 3 months

−9.5 pts

PYPG from its stated multiple

−9.2 pts

PYPU from its stated multiple

PYPG · 3 months to Sep 30, 20269.5 pts short of its stated multiple

PYPG returned +29.5% while 2 times PYPL's move would have been +39.0%

PYPU · 3 months to Sep 30, 20269.2 pts short of its stated multiple

PYPU returned +29.8% while 2 times PYPL's move would have been +39.0%

ETFIQ Decay Resistance Score · PYPU scores higherDid it keep up with its own daily multiple, compounded day by day?

PYPG 16.4

PYPU 19.5

0.1, the lowest in this set99.9, the highest

A percentile among the 470 leveraged ETFs, long, over three months. 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	PYPG	PYPU	PYPG	PYPU	PYPG	PYPU
1 month	−2.2%	−1.8%	0.0%	0.0%	−2.2 pts	−1.8 pts
3 months	+29.5%	+29.8%	+39.0%	+39.0%	−9.5 pts	−9.2 pts
6 months	+19.7%	+20.4%	+36.8%	+36.8%	−17.1 pts	−16.4 pts
1 year	−55.8%	not published	−41.6%	not published	−14.2 pts	not published
Since launch PYPG Apr 2025 · PYPU Mar 2026	−48.3%	+18.6%	−18.0%	+35.6%	−30.3 pts	−17.0 pts

PYPG and PYPU over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

PYPG

Leverage Shares 2X Long PYPL Daily ETF · Aims to return twice the daily move of PayPal (PYPL)

PYPU

Direxion Daily PYPL Bull 2X ETF · Aims to return twice the daily move of PayPal (PYPL)

Issuer Leverage Shares Direxion

Sets out to return +2x +2x

Underlying asset PYPL PYPL

Segment company company

Fund returned, 3 months or since launch +29.5% +29.8%

Underlying returned, over that window +19.5% +19.5%

What the stated multiple implies, over that window +39.0% +39.0%

Difference from stated, over that window −9.5 pts −9.2 pts

Fund returned, 1 year or since launch −55.8% +18.6%

Difference from stated, over that window −14.2 pts −17.0 pts

Underlying volatility 51% 51%

Difference over the days both have traded −9.5 pts −9.2 pts

Expense ratio 0.77% 0.97%

Launched Apr 4, 2025 Mar 25, 2026

Net assets $15m $1m

PYPG and PYPU on the same fields, as of Sep 30, 2026. Source: ETFIQ.

PYPG in plain words

Three months to Sep 30, 2026: PYPG returned +29.5% where its own daily promise gave +34.1%, 4.6 points short. Read the multiple against the whole window instead and 2 times PYPL's 19.5% implies +39.0%, which makes PYPG look 9.5 points short. 4.9 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. PYPG aims to return +2 times PYPL'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. PYPL moved at 51% 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.

PYPU in plain words

Three months to Sep 30, 2026: PYPU returned +29.8% where its own daily promise gave +34.1%, 4.3 points short. Read the multiple against the whole window instead and 2 times PYPL's 19.5% implies +39.0%, which makes PYPU look 9.2 points short. PYPU aims to return +2 times PYPL's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, PYPG or PYPU?: Over the window to Sep 30, 2026, PYPG finished 9.5 points from what its multiple implies and PYPU finished 9.2 points from its own, so PYPU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are PYPG and PYPU levered on the same thing?: Yes. Both are levered on PayPal, PYPG at +2 times and PYPU at +2 times the daily move.
Which one decays faster, PYPG or PYPU?: Decay follows how much the underlying moves about. Over this window PYPG’s moved at 51% annualized and PYPU’s at 51%, so PYPG has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold PYPG or PYPU 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.
Which is cheaper, PYPG or PYPU?: PYPG charges 0.77% a year and PYPU charges 0.97%, so PYPG is cheaper. Fees come from each fund's prospectus.

Other comparisons

PYPG on its own →PYPU on its own →How every figure is computed →Standards and sources →

Where these figures came from

PYPG filings on SEC EDGAR ↗PYPG prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗PYPU filings on SEC EDGAR ↗PYPU prospectus with the expense ratio (SEC) ↗Direxion website ↗

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.

Cite this page

ETFIQ, PYPG against PYPU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/pypg-vs-pypu

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.