SK vs SKHN: Leverage, Returns & Decay
Over a month against its daily multiple, compounded, SK finished 0.5 points short and SKHN 0.1 points short. Net assets on Oct 21, 2026: $18m for Corgi SK hynix 2x Daily ETF and $728,651 for Tradr 2X Short SK Hynix Daily ETF.
SK costs 0.99 points a year less; SK is far larger, $18m against $728,651.
Points (pts) are percentage points.
| SK | SKHN | |
|---|---|---|
| Expense ratio | 0.50% | 1.49% |
| Net assets | $18m | $728,651 |
| What it tracks | SK hynix Inc. (from its own objective) | SK Hynix |
| Holdings in common | not published | |
| What its daily multiple gave | −35.3% (3 months) | 59.1% (1 month) |
| Against its daily multiple | 2.6 points short (3 months) | 0.1 points short (1 month) |
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.
SKHN returned +59.1% while −2 times SKHY's move would have been +48.4%. Figures from Sep 21, 2026 to Oct 21, 2026.
SKHN returned +59.1% while −2 times SKHY's move would have been +48.4%. Figures from Sep 21, 2026 to Oct 21, 2026.
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | SK | SKHN | SK | SKHN | SK | SKHN |
| 1 month | −44.8% | +59.1% | −48.4% | +48.4% | +3.6 pts | +10.7 pts |
| 3 months | −37.9% | – | −26.6% | – | −11.3 pts | – |
| Since launch Not the same days: SK Jul 2026 · SKHN Jul 2026 | −57.3% | −45.5% | −52.2% | −20.2% | −5.1 pts | −25.3 pts |
Source: ETFIQ. – means no data for this window, usually because the fund is younger than it. 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 SKHN
Over the month to Oct 21, 2026, SKHN returned 59.1%, against 59.1% for twice the inverse of SKHY's daily moves. Read the multiple against the whole window instead and −2 times SKHY's −24.2% implies +48.4%, which makes SKHN look 10.7 points over. SKHN aims to return -2 times SKHY's move each day, then resets. 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 55% annualized over that window.
Of that 10.7, daily compounding is +10.8 points, which any −2 times fund would show over the same path, and the fund itself is −0.1 points against −2 times each day's move, compounded.
Questions people ask
- Which came closer to its daily multiple, SK or SKHN?
- Over the window to Oct 21, 2026, SK finished 11.3 points from what its multiple implies and SKHN finished 10.7 points from its own, so SKHN came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SK and SKHN levered on the same thing?
- Yes. Both are levered on SK hynix, SK at +2 times and SKHN at -2 times the daily move.
- Which one decays faster, SK or SKHN?
- Decay follows how much the underlying moves about. Over this window SK’s moved at 78% annualized and SKHN’s at 55%, so SK has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SK or SKHN 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
Every figure is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, SK against SKHN, data as of Oct 21, 2026. https://etfiq.com/compare/leverage/sk-vs-skhn
ETFIQ. (Oct 21, 2026). SK against SKHN. Retrieved from https://etfiq.com/compare/leverage/sk-vs-skhn
[SK against SKHN (ETFIQ, Oct 21, 2026)](https://etfiq.com/compare/leverage/sk-vs-skhn)
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