SK vs SKHL: Leverage, Returns & Decay
Over the days both have traded, SK finished 3.6 points from its stated multiple and SKHL 3.5. Net assets: $18m on Oct 21, 2026 for Corgi SK hynix 2x Daily ETF, and $38m on Oct 19, 2026 for Direxion Daily SK Hynix Bull 2X ETF.
SK costs 0.47 points a year less.
Points (pts) are percentage points.
| SK | SKHL | |
|---|---|---|
| Expense ratio | 0.50% | 0.97% |
| Net assets, SK as of Oct 21, 2026 and SKHL as of Oct 19, 2026 | $18m | $38m |
| What it tracks | SK hynix Inc. (from its own objective) | SK hynix Inc. (from its own objective) |
| Holdings in common | not published | |
| What its daily multiple gave, 3 months | −35.3% | −35.3% |
| Against its daily multiple, 3 months | 2.6 points short | 2.8 points short |
SK returned −37.9% while 2 times SKHY's move would have been −26.6%. Figures from Jul 22, 2026 to Oct 21, 2026.
SK returned −37.9% while 2 times SKHY's move would have been −26.6%. Figures from Jul 22, 2026 to Oct 21, 2026.
SKHL returned −38.2% while 2 times SKHY's move would have been −26.6%. Figures from Jul 22, 2026 to Oct 21, 2026.
Figures from Jul 22, 2026 to Oct 21, 2026.
How closely it delivered its daily multiple over 3 months, ranked against 508 leveraged ETFs at 2x, over three months. 100 is best. How it is computed
A percentile among the 508 leveraged ETFs at 2x, over three months. Three months only, against the fund's own daily multiple; a different quarter can rank it very differently. All leveraged ETFs ranked by it →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | SK | SKHL | SK | SKHL | SK | SKHL |
| 1 month | −44.8% | −44.9% | −48.4% | −48.4% | +3.6 pts | +3.5 pts |
| 3 months | −37.9% | −38.2% | −26.6% | −26.6% | −11.3 pts | −11.6 pts |
| Since launch Not the same days: SK Jul 2026 · SKHL Jul 2026 | −57.3% | −48.1% | −52.2% | −37.6% | −5.1 pts | −10.5 pts |
Source: ETFIQ. Open this comparison in the app →
On the same fields
As of Oct 21, 2026. Source: ETFIQ.
About SK
Read the multiple against the whole window instead and 2 times SKHY's −13.3% implies −26.6%, which makes SK look 11.3 points short. That is not the fund's objective, which is daily. Of that 11.3, daily compounding is −8.7 points, which any 2 times fund would show over the same path, and the fund itself is −2.6 points against 2 times each day's move, compounded. SK aims to return +2 times SKHY's move each day, then resets. Over one day it does that. Over longer periods the daily results compound, so the total is not +2 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run. SKHY moved at 78% annualized over that window. The more it moves, the further the two figures separate.
Over the three months to Oct 21, 2026, SK lost 37.9%, against −35.3% for twice SKHY's daily moves.
About SKHL
Read the multiple against the whole window instead and 2 times SKHY's −13.3% implies −26.6%, which makes SKHL look 11.6 points short. Of that 11.6, daily compounding is −8.8 points, which any 2 times fund would show over the same path, and the fund itself is −2.8 points against 2 times each day's move, compounded. SKHL aims to return +2 times SKHY's move each day, then resets.
Over the three months to Oct 21, 2026, SKHL lost 38.2%, against −35.3% for twice SKHY's daily moves.
Questions people ask
- Which came closer to its daily multiple, SK or SKHL?
- Over the window to Oct 21, 2026, SK finished 11.3 points from what its multiple implies and SKHL finished 11.6 points from its own, so SK came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SK and SKHL levered on the same thing?
- Yes. Both are levered on SK hynix, SK at +2 times and SKHL at +2 times the daily move.
- Which one decays faster, SK or SKHL?
- Decay follows how much the underlying moves about. Over this window SK’s moved at 78% annualized and SKHL’s at 78%, so SK has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SK or SKHL for a year?
- 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’s move; after a fall and recovery it is lower.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Every figure is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, SK against SKHL, data as of Oct 21, 2026. https://etfiq.com/compare/leverage/sk-vs-skhl
ETFIQ. (Oct 21, 2026). SK against SKHL. Retrieved from https://etfiq.com/compare/leverage/sk-vs-skhl
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