Which came closer to its stated multiple, QBTX or QUA?

Over the window to Sep 30, 2026, QBTX finished 2.0 points from what its multiple implies and QUA finished 2.6 points from its own, so QBTX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are QBTX and QUA levered on the same thing?

Yes. Both are levered on D-Wave Quantum, QBTX at +2 times and QUA at +2 times the daily move.

Which one decays faster, QBTX or QUA?

Decay follows how much the underlying moves about. Over this window QBTX’s moved at 87% annualized and QUA’s at 54%, so QBTX has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold QBTX or QUA 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, QBTX or QUA?

QBTX charges 1.31% a year and QUA charges 0.45%, so QUA is cheaper. Fees come from each fund's prospectus.

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QBTX vs QUA: which held to its multiple?

Over the days both have traded, QBTX finished 3.8 points from its stated multiple and QUA 2.6. Tradr 2X Long QBTS Daily ETF and Corgi QBTS 2x Daily ETF.

−60.9%

QBTX returned, 3 months

−43.7%

QUA returned, since launch

−2.0 pts

QBTX from its stated multiple

−8.7 pts

QUA from its stated multiple

QBTX · 3 months to Sep 30, 20262 pts short of its stated multiple

QBTX returned −60.9% while 2 times QBTS's move would have been −59.0%

QUA · 1 month to Sep 30, 20262.6 pts short of its stated multiple

QUA returned −9.9% while 2 times QBTS's move would have been −7.3%

Performance, window by window

	Total return		Multiple would give		Difference
Window	QBTX	QUA	QBTX	QUA	QBTX	QUA
1 month	−11.1%	−9.9%	−7.3%	−7.3%	−3.8 pts	−2.6 pts
3 months	−60.9%	not published	−59.0%	not published	−2.0 pts	not published
6 months	−20.5%	not published	+41.9%	not published	−62.4 pts	not published
1 year	−87.8%	not published	−65.9%	not published	−22.0 pts	not published
Since launch QBTX Apr 2025 · QUA Jul 2026	−27.5%	−43.7%	not meaningful	−35.0%	not meaningful	−8.7 pts

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

On the same fields

QBTX

Tradr 2X Long QBTS Daily ETF · Aims to return twice the daily move of D-Wave Quantum (QBTS)

QUA

Corgi QBTS 2x Daily ETF · Aims to return twice the daily move of D-Wave Quantum (QBTS)

Issuer Tradr Corgi

Sets out to return +2x +2x

Underlying asset QBTS QBTS

Segment company company

Fund returned, 3 months or since launch −60.9% −9.9%

Underlying returned, over that window −29.5% −3.7%

What the stated multiple implies, over that window −59.0% −7.3%

Difference from stated, over that window −2.0 pts −2.6 pts

Fund returned, 1 year or since launch −87.8% −43.7%

Difference from stated, over that window −22.0 pts −8.7 pts

Underlying volatility 87% 54%

Difference over the days both have traded −3.8 pts −2.6 pts

Expense ratio 1.31% 0.45%

Launched Apr 25, 2025 Jul 10, 2026

Net assets $64m $188,792

QBTX and QUA on the same fields, as of Sep 30, 2026. Source: ETFIQ.

QBTX in plain words

Three months to Sep 30, 2026: QBTX returned −60.9% where its own daily promise gave −58.6%, 2.3 points short. Read the multiple against the whole window instead and 2 times QBTS's −29.5% implies −59.0%, which makes QBTX look 2.0 points short. 0.4 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. QBTX aims to return +2 times QBTS'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. QBTS moved at 87% 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.

QUA in plain words

One month to Sep 30, 2026: QUA returned −9.9% where its own daily promise gave −9.3%, 0.6 points short. Read the multiple against the whole window instead and 2 times QBTS's −3.7% implies −7.3%, which makes QUA look 2.6 points short. 2.0 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. QUA aims to return +2 times QBTS's move each day, then resets. QBTS moved at 54% annualized over that window.

Questions people ask

Which came closer to its stated multiple, QBTX or QUA?: Over the window to Sep 30, 2026, QBTX finished 2.0 points from what its multiple implies and QUA finished 2.6 points from its own, so QBTX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are QBTX and QUA levered on the same thing?: Yes. Both are levered on D-Wave Quantum, QBTX at +2 times and QUA at +2 times the daily move.
Which one decays faster, QBTX or QUA?: Decay follows how much the underlying moves about. Over this window QBTX’s moved at 87% annualized and QUA’s at 54%, so QBTX has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold QBTX or QUA 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, QBTX or QUA?: QBTX charges 1.31% a year and QUA charges 0.45%, so QUA is cheaper. Fees come from each fund's prospectus.

Other comparisons

QBTX vs QBTZ QUA vs QBTZ

QBTX on its own →QUA on its own →How every figure is computed →Standards and sources →

Where these figures came from

QBTX filings on SEC EDGAR ↗QBTX prospectus with the expense ratio (SEC) ↗Tradr website ↗QUA filings on SEC EDGAR ↗QUA prospectus with the expense ratio (SEC) ↗Corgi 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, QBTX against QUA, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/qbtx-vs-qua

Open data

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