{"url":"https://etfiq.com/compare/leverage/sh-vs-spyq","section":"compare","title":"SH vs SPYQ: Leverage, Returns & Decay | ETFIQ","description":"SH sets out to return -1 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.4 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, SH or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Oct 22, 2026, SH finished 1.4 points from what its multiple implies and SPYQ finished 1.9 points from its own, so SH came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SH and SPYQ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on the S&P 500, SH at -1 times and SPYQ at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SH or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SH\u2019s moved at 11% annualized and SPYQ\u2019s at 11%, so SH has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SH 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, SH or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"SH charges 0.88% a year and SPYQ charges 1.00%, so SH 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":"SH vs SPYQ","item":"https://etfiq.com/compare/leverage/sh-vs-spyq"}]},{"@type":"WebPage","name":"SH vs SPYQ: Leverage, Returns & Decay","description":"SH sets out to return -1 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.4 pts and \u22121.9 pts away.","url":"https://etfiq.com/compare/leverage/sh-vs-spyq","dateModified":"2026-10-22","abstract":"Over three months against its daily multiple, compounded, SH finished 1.6 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 SH and SPYQ","description":"SH sets out to return -1 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.4 pts and \u22121.9 pts away.","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/sh-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":7887,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Compare ETFs / SH vs SPYQ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 22, 2026 .\n\n SH vs SPYQ: Leverage, Returns & Decay\n\n Over three months against its daily multiple, compounded, SH finished 1.6 points over and SPYQ 1.8 points short.\n Copy this for sharing \n \n SH costs 0.12 points a year less; their one-year returns differ by 31.4 points; SH is far larger, $956m against $13m.\n SH and SPYQ at a glance. As of Oct 22, 2026. Source: ETFIQ. SH SPYQ \n Expense ratio 0.88% 1.00% \n Net assets $956m $13m \n Total return, 1 year \u22128.9% +22.5% \n What it tracks S&P 5","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, SH against SPYQ, data as of Oct 22, 2026. https://etfiq.com/compare/leverage/sh-vs-spyq","a":{"ticker":"SH","name":"ProShares Short S&P500","issuer":"ProShares","desk":"leverage","as_of":"2026-10-22","verdict":"Over the three months to Oct 22, 2026, SH lost 2.3%, against \u22123.9% for the inverse of SPY's daily moves.","url":"https://etfiq.com/funds/sh","key_facts":[{"label":"What SPY did","value":"+3.7%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What \u22121 times a day gives","value":"\u22123.9%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What the fund returned","value":"\u22122.3%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Gap to \u22121 times a day","value":"+1.6 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":"3.4%","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":"$0.2963","as_of":"2026-09-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$956m","as_of":"2026-10-22","source":"issuer page, as of Oct 22, 2026"},{"label":"Expense ratio","value":"0.88%","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/sh-vs-spyq"}