SKDD vs SKHQ: Leverage, Returns & Decay
Over the days both have traded, SKDD finished 10.8 points from its stated multiple and SKHQ 10.3. Net assets: $15m on Oct 21, 2026 for GraniteShares 2x Short SK Hynix Daily ETF, and $418,250 on Oct 20, 2026 for Leverage Shares 2X Short Sk Hynix Daily ETF.
SKHQ costs 1.21 points a year less.
Points (pts) are percentage points.
| SKDD | SKHQ | |
|---|---|---|
| Expense ratio | 2.20% | 0.99% |
| Net assets, SKDD as of Oct 21, 2026 and SKHQ as of Oct 20, 2026 | $15m | $418,250 |
| What it tracks | SKHY (from its own objective) | SK Hynix (from its own objective) |
| Holdings in common | not published | |
| What its daily multiple gave | −17.5% (3 months) | 59.1% (1 month) |
| Against its daily multiple | 0.5 points short (3 months) | 0.4 points short (1 month) |
SKDD returned −18.0% while −2 times SKHY's move would have been +26.6%. Figures from Jul 22, 2026 to Oct 21, 2026.
SKDD returned −18.0% while −2 times SKHY's move would have been +26.6%. Figures from Jul 22, 2026 to Oct 21, 2026.
SKHQ returned +58.7% while −2 times SKHY's move would have been +48.4%. Figures from Sep 21, 2026 to Oct 21, 2026.
Figures from Sep 21, 2026 to Oct 21, 2026.
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | SKDD | SKHQ | SKDD | SKHQ | SKDD | SKHQ |
| 1 month | +59.2% | +58.7% | +48.4% | +48.4% | +10.8 pts | +10.3 pts |
| 3 months | −18.0% | – | +26.6% | – | −44.6 pts | – |
| Since launch Not the same days: SKDD Jul 2026 · SKHQ Sep 2026 | −2.5% | +11.9% | +52.2% | +26.4% | −54.7 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
As of Oct 21, 2026. Source: ETFIQ.
About SKDD
Read the multiple against the whole window instead and −2 times SKHY's −13.3% implies +26.6%, which makes SKDD look 44.6 points short. That is not the fund's objective, which is daily. Of that 44.6, daily compounding is −44.1 points, which any −2 times fund would show over the same path, and the fund itself is −0.5 points against −2 times each day's move, compounded. SKDD 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, SKDD lost 18.0%, against −17.5% for twice the inverse of 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. 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, SKDD or SKHQ?
- Over the window to Oct 21, 2026, SKDD finished 44.6 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 SKDD and SKHQ levered on the same thing?
- Yes. Both are levered on SK hynix, SKDD at -2 times and SKHQ at -2 times the daily move.
- Which one decays faster, SKDD or SKHQ?
- Decay follows how much the underlying moves about. Over this window SKDD’s moved at 78% annualized and SKHQ’s at 55%, so SKDD has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SKDD 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.
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, SKDD against SKHQ, data as of Oct 21, 2026. https://etfiq.com/compare/leverage/skdd-vs-skhq
ETFIQ. (Oct 21, 2026). SKDD against SKHQ. Retrieved from https://etfiq.com/compare/leverage/skdd-vs-skhq
[SKDD against SKHQ (ETFIQ, Oct 21, 2026)](https://etfiq.com/compare/leverage/skdd-vs-skhq)
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