Which came closer to its daily multiple, SK or SKHQ?

Over the window to Oct 21, 2026, SK finished 11.3 points from what its multiple implies and SKHQ finished 10.3 points from its own, so SKHQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are SK and SKHQ levered on the same thing?

Yes. Both are levered on SK hynix, SK at +2 times and SKHQ at -2 times the daily move.

Which one decays faster, SK or SKHQ?

Decay follows how much the underlying moves about. Over this window SK’s moved at 78% annualized and SKHQ’s at 55%, so SK has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold SK or SKHQ 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.

Which is cheaper, SK or SKHQ?

SK charges 0.50% a year and SKHQ charges 0.99%, so SK is cheaper. Fees come from each fund's prospectus.

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SK vs SKHQ: Leverage, Returns & Decay

Over a month against its daily multiple, compounded, SK finished 0.5 points short and SKHQ 0.4 points short. Net assets: $18m on Oct 21, 2026 for Corgi SK hynix 2x Daily ETF, and $418,250 on Oct 20, 2026 for Leverage Shares 2X Short Sk Hynix Daily ETF.

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Answers cite the figures on this page.

SK costs 0.49 points a year less.

Points (pts) are percentage points.

SK vs SKHQ: Leverage, Returns & Decay
	SK	SKHQ
Expense ratio	0.50%	0.99%
Net assets, SK as of Oct 21, 2026 and SKHQ as of Oct 20, 2026	$18m	$418,250
What it tracks	SK hynix Inc. (from its own objective)	SK Hynix (from its own objective)
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)	0.4 points short (1 month)

−37.9%

SK returned, 3 months

+11.9%

SKHQ returned, since launch, Sep 2, 2026

−11.3 pts

SK from its stated multiple: compounding −8.7 pts, gap to the daily multiple −2.6 pts

−14.5 pts

SKHQ from its stated multiple: compounding −14.1 pts, gap to the daily multiple −0.4 pts

SK · 3 months to Oct 21, 202611.3 pts short of its stated multiple

SK returned −37.9% 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.

SKHQ · 1 month to Oct 21, 202610.3 pts ahead of its stated multiple

SKHQ returned +58.7% while −2 times SKHY's move would have been +48.4%. Figures from Sep 21, 2026 to Oct 21, 2026.

Performance, window by window

Performance, window by window: SK vs SKHQ: Leverage, Returns & Decay
	Total return		Multiple would give		Difference
Window	SK	SKHQ	SK	SKHQ	SK	SKHQ
1 month	−44.8%	+58.7%	−48.4%	+48.4%	+3.6 pts	+10.3 pts
3 months	−37.9%	–	−26.6%	–	−11.3 pts	–
Since launch Not the same days: SK Jul 2026 · SKHQ Sep 2026	−57.3%	+11.9%	−52.2%	+26.4%	−5.1 pts	−14.5 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

Corgi SK hynix 2x Daily ETF · Aims to return twice the daily move of SK hynix (SKHY)

SKHQ

Leverage Shares 2X Short Sk Hynix Daily ETF · Aims to return twice the opposite of the daily move of SK hynix (SKHY)

Issuer Corgi Leverage Shares

Sets out to return +2x −2x

Underlying asset SKHY SKHY

Segment company company

Fund returned, 3 months −37.9% +11.9% (since launch, Sep 2, 2026)

Underlying returned, over that window −13.3% −13.2%

What the stated multiple implies, over that window −26.6% +26.4%

Difference from stated, over that window −11.3 pts −14.5 pts

Fund returned, 1 year −57.3% (since launch, Jul 14, 2026) +11.9% (since launch, Sep 2, 2026)

Difference from stated, over that window −5.1 pts (since launch, Jul 14, 2026) −14.5 pts (since launch, Sep 2, 2026)

Underlying volatility 78% 64%

Difference over the days both have traded +3.6 pts +10.3 pts

Expense ratio 0.50% 0.99%

First traded Jul 14, 2026 Sep 2, 2026

Net assets, SK as of Oct 21, 2026 and SKHQ as of Oct 20, 2026 $18m $418,250

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 SKHQ

Read the multiple against the whole window instead and −2 times SKHY's −24.2% implies +48.4%, which makes SKHQ look 10.3 points over. SKHQ 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.

Over the month to Oct 21, 2026, SKHQ returned 58.7%, against 59.1% for twice the inverse of SKHY's daily moves. Of that 10.3, daily compounding is +10.7 points, which any −2 times fund would show over the same path, and the fund itself is −0.4 points against −2 times each day's move, compounded.

Questions people ask

Which came closer to its daily multiple, SK or SKHQ?: Over the window to Oct 21, 2026, SK finished 11.3 points from what its multiple implies and SKHQ finished 10.3 points from its own, so SKHQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are SK and SKHQ levered on the same thing?: Yes. Both are levered on SK hynix, SK at +2 times and SKHQ at -2 times the daily move.
Which one decays faster, SK or SKHQ?: Decay follows how much the underlying moves about. Over this window SK’s moved at 78% annualized and SKHQ’s at 55%, so SK has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold SK or SKHQ 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.
Which is cheaper, SK or SKHQ?: SK charges 0.50% a year and SKHQ charges 0.99%, so SK is cheaper. Fees come from each fund's prospectus.

Other comparisons

SK vs SKHN SK vs SKHU SK vs SKHX SK vs SKUU SKHQ vs SKHU SKHQ vs SKHZ SKHQ vs SKHX SKHQ vs SKUU

All leveraged ETFs ranked by the 3-Month Tracking Score →How the scores are computed →SK on its own →SKHQ on its own →SK holdings →SKHQ holdings →How every figure is computed →Standards and sources →

Where these figures came from

SK filings on SEC EDGAR ↗SK prospectus with the expense ratio (SEC) ↗Corgi website ↗Leverage Shares website ↗

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 SKHQ, data as of Oct 21, 2026. https://etfiq.com/compare/leverage/sk-vs-skhq

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.