Which came closer to its stated multiple, RKLZ or RKX?

Over the window to Sep 30, 2026, RKLZ finished 39.8 points from what its multiple implies and RKX finished 1.9 points from its own, so RKX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are RKLZ and RKX levered on the same thing?

Yes. Both are levered on Rocket Lab, RKLZ at -2 times and RKX at +2 times the daily move.

Which one decays faster, RKLZ or RKX?

Decay follows how much the underlying moves about. Over this window RKLZ’s moved at 70% annualized and RKX’s at 70%, so RKLZ has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold RKLZ or RKX 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, RKLZ or RKX?

RKLZ charges 1.29% a year and RKX charges 0.45%, so RKX is cheaper. Fees come from each fund's prospectus.

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RKLZ vs RKX: which held to its multiple?

Over three months against its own daily promise, RKLZ finished 21.5 points short and RKX 1.4 points short. Defiance Daily Target 2X Short RKLB ETF and Corgi RKLB 2x Daily ETF.

+20.9%

RKLZ returned, 3 months

−58.8%

RKX returned, 3 months

−39.8 pts

RKLZ from its stated multiple

+1.9 pts

RKX from its stated multiple

RKLZ · 3 months to Sep 30, 202639.8 pts short of its stated multiple

RKLZ returned +20.9% while −2 times RKLB's move would have been +60.7%

RKX · 3 months to Sep 30, 20261.9 pts ahead of its stated multiple

RKX returned −58.8% while 2 times RKLB's move would have been −60.7%

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

RKLZ among the 125 inverse ETFs over three months

RKLZ 1.2

0.4, the lowest in this set99.6, the highest

RKX among the 470 leveraged ETFs, long, over three months

RKX 88.4

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

A percentile among the 125 inverse ETFs over three months. RKX is a percentile among the 470 leveraged ETFs, long, 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	RKLZ	RKX	RKLZ	RKX	RKLZ	RKX
1 month	−26.3%	+15.2%	−18.0%	+18.0%	−8.3 pts	−2.8 pts
3 months	+20.9%	−58.8%	+60.7%	−60.7%	−39.8 pts	+1.9 pts
6 months	−86.5%	not published	−12.7%	not published	−73.8 pts	not published
Since launch RKLZ Nov 2025 · RKX Jun 2026	−98.1%	−59.9%	−125.8%	−62.9%	+27.7 pts	+3.0 pts

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

On the same fields

RKLZ

Defiance Daily Target 2X Short RKLB ETF · Aims to return twice the opposite of the daily move of Rocket Lab (RKLB)

RKX

Corgi RKLB 2x Daily ETF · Aims to return twice the daily move of Rocket Lab (RKLB)

Issuer Defiance Corgi

Sets out to return -2x +2x

Underlying asset RKLB RKLB

Segment company company

Fund returned, 3 months or since launch +20.9% −58.8%

Underlying returned, over that window −30.4% −30.4%

What the stated multiple implies, over that window +60.7% −60.7%

Difference from stated, over that window −39.8 pts +1.9 pts

Fund returned, 1 year or since launch −98.1% −59.9%

Difference from stated, over that window +27.7 pts +3.0 pts

Underlying volatility 70% 70%

Difference over the days both have traded no shared window +1.9 pts

Expense ratio 1.29% 0.45%

Launched Nov 18, 2025 Jun 30, 2026

Net assets $7m $697,453

RKLZ and RKX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

RKLZ in plain words

Three months to Sep 30, 2026: RKLZ returned +20.9% where its own daily promise gave +42.4%, 21.5 points short. Read the multiple against the whole window instead and −2 times RKLB's −30.4% implies +60.7%, which makes RKLZ look 39.8 points short. 18.4 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. RKLZ aims to return -2 times RKLB'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. RKLB moved at 70% 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.

RKX in plain words

Three months to Sep 30, 2026: RKX returned −58.8% where its own daily promise gave −57.4%, 1.4 points short. Read the multiple against the whole window instead and 2 times RKLB's −30.4% implies −60.7%, which makes RKX look 1.9 points over. 3.4 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. RKX aims to return +2 times RKLB'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, RKLZ or RKX?: Over the window to Sep 30, 2026, RKLZ finished 39.8 points from what its multiple implies and RKX finished 1.9 points from its own, so RKX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are RKLZ and RKX levered on the same thing?: Yes. Both are levered on Rocket Lab, RKLZ at -2 times and RKX at +2 times the daily move.
Which one decays faster, RKLZ or RKX?: Decay follows how much the underlying moves about. Over this window RKLZ’s moved at 70% annualized and RKX’s at 70%, so RKLZ has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold RKLZ or RKX 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, RKLZ or RKX?: RKLZ charges 1.29% a year and RKX charges 0.45%, so RKX is cheaper. Fees come from each fund's prospectus.

Other comparisons

RKLZ vs RKLX RKX vs RKLX

RKLZ on its own →RKX on its own →How every figure is computed →Standards and sources →

Where these figures came from

RKLZ filings on SEC EDGAR ↗RKLZ prospectus with the expense ratio (SEC) ↗Defiance page for RKLZ ↗RKX filings on SEC EDGAR ↗RKX 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, RKLZ against RKX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/rklz-vs-rkx

Open data

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