{"url":"https://etfiq.com/compare/leverage/sds-vs-spyq","section":"compare","title":"SDS vs SPYQ: Leverage, Returns & Decay | ETFIQ","description":"SDS sets out to return -2 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.9 pts and \u22121.9 pts away.","as_of":"Oct 22, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its daily multiple, SDS or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Oct 22, 2026, SDS finished 1.9 points from what its multiple implies and SPYQ finished 1.9 points from its own, so SDS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SDS and SPYQ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on the S&P 500, SDS at -2 times and SPYQ at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SDS or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SDS\u2019s moved at 11% annualized and SPYQ\u2019s at 11%, so SDS has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SDS or SPYQ for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day, and daily results compound. Over a year the total is not the multiple times the year\u2019s move; after a fall and recovery it is lower."}},{"@type":"Question","name":"Which is cheaper, SDS or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"SDS charges 0.91% a year and SPYQ charges 1.00%, so SDS 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":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"SDS vs SPYQ","item":"https://etfiq.com/compare/leverage/sds-vs-spyq"}]},{"@type":"WebPage","name":"SDS vs SPYQ: Leverage, Returns & Decay","description":"SDS sets out to return -2 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.9 pts and \u22121.9 pts away.","url":"https://etfiq.com/compare/leverage/sds-vs-spyq","dateModified":"2026-10-22","abstract":"Over three months against its daily multiple, compounded, SDS finished 2.5 points over and SPYQ 1.8 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SDS and SPYQ","description":"SDS sets out to return -2 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.9 pts and \u22121.9 pts away.","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/sds-vs-spyq","license":"https://etfiq.com/license/","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":7981,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Compare ETFs / SDS vs SPYQ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 22, 2026 .\n\n SDS vs SPYQ: Leverage, Returns & Decay\n\n Over three months against its daily multiple, compounded, SDS finished 2.5 points over and SPYQ 1.8 points short.\n Copy this for sharing \n \n SDS costs 0.09 points a year less; their one-year returns differ by 43.4 points; SDS is far larger, $383m against $13m.\n SDS and SPYQ at a glance. As of Oct 22, 2026. Source: ETFIQ. SDS SPYQ \n Expense ratio 0.91% 1.00% \n Net assets $383m $13m \n Total return, 1 year \u221220.9% +22.5% \n What it trac","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/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, SDS against SPYQ, data as of Oct 22, 2026. https://etfiq.com/compare/leverage/sds-vs-spyq","a":{"ticker":"SDS","name":"ProShares UltraShort S&P500","issuer":"ProShares","desk":"leverage","as_of":"2026-10-22","verdict":"Over the three months to Oct 22, 2026, SDS lost 5.5%, against \u22127.9% for twice the inverse of SPY's daily moves.","url":"https://etfiq.com/funds/sds","key_facts":[{"label":"What SPY did","value":"+3.7%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What \u22122 times a day gives","value":"\u22127.9%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What the fund returned","value":"\u22125.5%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Gap to \u22122 times a day","value":"+2.5 pts","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"3.9%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 23, 2026","value":"$0.6291","as_of":"2026-09-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$383m","as_of":"2026-10-22","source":"issuer page, as of Oct 22, 2026"},{"label":"Expense ratio","value":"0.91%","as_of":"2026-09-25","source":"485BPOS XBRL, Sep 25, 2026"}]},"b":{"ticker":"SPYQ","name":"Tradr 2X Long SPY Quarterly ETF","issuer":"Tradr","desk":"leverage","as_of":"2026-10-22","verdict":"Over the three months to Oct 22, 2026, SPYQ returned 5.5%, against 7.3% for twice SPY's daily moves.","url":"https://etfiq.com/funds/spyq","key_facts":[{"label":"What SPY did","value":"+3.7%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What 2 times a day gives","value":"+7.3%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What the fund returned","value":"+5.5%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Gap to 2 times a day","value":"\u22121.8 pts","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"0.2%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment, ex-date Dec 23, 2025","value":"$0.2711","as_of":"2025-12-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$13m","as_of":"2026-10-22","source":"the issuer\u2019s own daily fund list, as of Oct 22, 2026"},{"label":"Expense ratio","value":"1.00%","as_of":"2026-08-05","source":"497 XBRL, Aug 5, 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/sds-vs-spyq"}