{"url":"https://etfiq.com/compare/leverage/saa-vs-sdd","section":"compare","title":"SAA vs SDD: which held to its multiple? | ETFIQ","description":"SAA sets out to return +2 times IJR each day and SDD -2 times. Over the three months to Sep 30, 2026 they finished \u22120.9 pts and +3.7 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, SAA or SDD?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, SAA finished 0.9 points from what its multiple implies and SDD finished 3.7 points from its own, so SAA came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SAA and SDD levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on iShares Core S&P Small-Cap ETF, SAA at +2 times and SDD at -2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SAA or SDD?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SAA\u2019s moved at 12% annualized and SDD\u2019s at 12%, so SAA has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SAA or SDD for a year?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, SAA or SDD?","acceptedAnswer":{"@type":"Answer","text":"SAA charges 0.95% a year and SDD charges 0.95%, so SAA is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"SAA vs SDD","item":"https://etfiq.com/compare/leverage/saa-vs-sdd"}]},{"@type":"WebPage","name":"SAA vs SDD: which held to its multiple?","description":"SAA sets out to return +2 times IJR each day and SDD -2 times. Over the three months to Sep 30, 2026 they finished \u22120.9 pts and +3.7 pts away.","url":"https://etfiq.com/compare/leverage/saa-vs-sdd","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, SAA finished 1.2 points short and SDD 3.0 points over.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SAA and SDD","description":"SAA sets out to return +2 times IJR each day and SDD -2 times. Over the three months to Sep 30, 2026 they finished \u22120.9 pts and +3.7 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/saa-vs-sdd","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6972,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / SAA vs SDD \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n SAA vs SDD: which held to its multiple?\n\n Over three months against its own daily promise, SAA finished 1.2 points short and SDD 3.0 points over.\n Copy this for sharing \n \n ProShares Ultra SmallCap600 and ProShares UltraShort SmallCap600.\n\n Download as PDF \n\n \u221215.8% SAA returned, 3 months \n +18.6% SDD returned, 3 months \n \u22120.9 pts SAA from its stated multiple \n +3.7 pts SDD from its stated multiple \n\n ETFIQ Decay Resistance Score: SAA scores higher\n Did it keep up with its","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/saa-vs-sdd","a":{"ticker":"SAA","name":"ProShares Ultra SmallCap600","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SAA returned \u221215.8% where its own daily promise gave \u221214.7%, 1.2 points short.","url":"https://etfiq.com/funds/saa","key_facts":[{"label":"What IJR did","value":"\u22127.5%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221214.7%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221215.8%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.2 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$25m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"b":{"ticker":"SDD","name":"ProShares UltraShort SmallCap600","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SDD returned +18.6% where its own daily promise gave +15.6%, 3.0 points over.","url":"https://etfiq.com/funds/sdd","key_facts":[{"label":"What IJR did","value":"\u22127.5%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"+15.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+18.6%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+3.0 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$2m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/saa-vs-sdd"}