RXD vs RXL: which held to its multiple?
Over three months against its own daily promise, RXD finished 2.0 points over and RXL 0.7 points short. ProShares UltraShort Health Care and ProShares Ultra Health Care.
RXD returned −11.0% while −2 times XLV's move would have been −11.9%
RXL returned +10.7% while 2 times XLV's move would have been +11.9%
RXD among the 125 inverse ETFs over three months
RXL among the 470 leveraged ETFs, long, over three months
A percentile among the 125 inverse ETFs over three months. RXL 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 | RXD | RXL | RXD | RXL | RXD | RXL |
| 1 month | +1.7% | −1.9% | +1.7% | −1.7% | 0.0 pts | −0.2 pts |
| 3 months | −11.0% | +10.7% | −11.9% | +11.9% | +0.9 pts | −1.2 pts |
| 6 months | −24.2% | +27.1% | −29.9% | +29.9% | +5.7 pts | −2.7 pts |
| 1 year | −32.5% | +40.4% | −46.1% | +46.1% | +13.6 pts | −5.6 pts |
| 3 years | −38.2% | +48.3% | −75.0% | +75.0% | +36.8 pts | −26.7 pts |
| Since launch RXD Jan 2010 · RXL Jan 2010 | −99.2% | +1914.9% | not meaningful | not meaningful | not meaningful | not meaningful |
RXD and RXL over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
RXD and RXL on the same fields, as of Sep 30, 2026. Source: ETFIQ.
RXD in plain words
Three months to Sep 30, 2026: RXD returned −11.0% where its own daily promise gave −13.0%, 2.0 points over. Read the multiple against the whole window instead and −2 times XLV's 6.0% implies −11.9%, which makes RXD look 0.9 points over. 1.1 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. RXD aims to return -2 times XLV'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. XLV moved at 18% 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.
RXL in plain words
Three months to Sep 30, 2026: RXL returned +10.7% where its own daily promise gave +11.4%, 0.7 points short. Read the multiple against the whole window instead and 2 times XLV's 6.0% implies +11.9%, which makes RXL look 1.2 points short. 0.5 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. RXL aims to return +2 times XLV'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, RXD or RXL?
- Over the window to Sep 30, 2026, RXD finished 0.9 points from what its multiple implies and RXL finished 1.2 points from its own, so RXD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are RXD and RXL levered on the same thing?
- Yes. Both are levered on health care, RXD at -2 times and RXL at +2 times the daily move.
- Which one decays faster, RXD or RXL?
- Decay follows how much the underlying moves about. Over this window RXD’s moved at 18% annualized and RXL’s at 18%, so RXD has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold RXD or RXL 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, RXD against RXL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/rxd-vs-rxl
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, RXD against RXL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/rxd-vs-rxl Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, RXD against RXL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/rxd-vs-rxl
- APA
- ETFIQ. (Sep 30, 2026). RXD against RXL. Retrieved from https://etfiq.com/compare/leverage/rxd-vs-rxl
- Markdown
- [RXD against RXL (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/rxd-vs-rxl)