Which came closer to its daily multiple, SKHL or SKHN?

Over the window to Oct 21, 2026, SKHL finished 11.6 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 SKHL and SKHN levered on the same thing?

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

Which one decays faster, SKHL or SKHN?

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

Can I hold SKHL 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.

Which is cheaper, SKHL or SKHN?

SKHL charges 0.97% a year and SKHN charges 1.49%, so SKHL is cheaper. Fees come from each fund's prospectus.

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SKHL vs SKHN: Leverage, Returns & Decay

Over a month against its daily multiple, compounded, SKHL finished 0.7 points short and SKHN 0.1 points short. Net assets: $38m on Oct 19, 2026 for Direxion Daily SK Hynix Bull 2X ETF, and $728,651 on Oct 21, 2026 for Tradr 2X Short SK Hynix Daily ETF.

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Answers cite the figures on this page.

SKHL costs 0.52 points a year less; SKHL is far larger, $38m against $897,903.

Points (pts) are percentage points.

SKHL vs SKHN: Leverage, Returns & Decay
	SKHL	SKHN
Expense ratio	0.97%	1.49%
Net assets, as of Oct 19, 2026	$38m	$897,903
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	2.8 points short (3 months)	0.1 points short (1 month)

−38.2%

SKHL returned, 3 months

−45.5%

SKHN returned, since launch, Jul 28, 2026

−11.6 pts

SKHL from its stated multiple: compounding −8.8 pts, gap to the daily multiple −2.8 pts

−25.3 pts

SKHN from its stated multiple: compounding −25.3 pts, gap to the daily multiple 0.0 pts

SKHL · 3 months to Oct 21, 202611.6 pts short of its stated multiple

SKHL returned −38.2% while 2 times SKHY's move would have been −26.6%. Figures from Jul 22, 2026 to Oct 21, 2026.

SKHN · 1 month to Oct 21, 202610.7 pts ahead of its stated multiple

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

Performance, window by window: SKHL vs SKHN: Leverage, Returns & Decay
	Total return		Multiple would give		Difference
Window	SKHL	SKHN	SKHL	SKHN	SKHL	SKHN
1 month	−44.9%	+59.1%	−48.4%	+48.4%	+3.5 pts	+10.7 pts
3 months	−38.2%	–	−26.6%	–	−11.6 pts	–
Since launch Not the same days: SKHL Jul 2026 · SKHN Jul 2026	−48.1%	−45.5%	−37.6%	−20.2%	−10.5 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

SKHL

Direxion Daily SK Hynix Bull 2X ETF · Aims to return twice the daily move of SK hynix (SKHY)

SKHN

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

Issuer Direxion Tradr

Sets out to return +2x −2x

Underlying asset SKHY SKHY

Segment company index

Fund returned, 3 months −38.2% −45.5% (since launch, Jul 28, 2026)

Underlying returned, over that window −13.3% +10.1%

What the stated multiple implies, over that window −26.6% −20.2%

Difference from stated, over that window −11.6 pts −25.3 pts

Fund returned, 1 year −48.1% (since launch, Jul 15, 2026) −45.5% (since launch, Jul 28, 2026)

Difference from stated, over that window −10.5 pts (since launch, Jul 15, 2026) −25.3 pts (since launch, Jul 28, 2026)

Underlying volatility 78% 74%

Difference over the days both have traded +3.5 pts +10.7 pts

Expense ratio 0.97% 1.49%

First traded Jul 15, 2026 Jul 28, 2026

Net assets, SKHL as of Oct 19, 2026 and SKHN as of Oct 21, 2026 $38m $728,651

As of Oct 21, 2026. Source: ETFIQ.

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. That is not the fund's objective, which is daily. 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 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, SKHL lost 38.2%, 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, SKHL or SKHN?: Over the window to Oct 21, 2026, SKHL finished 11.6 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 SKHL and SKHN levered on the same thing?: Yes. Both are levered on SK hynix, SKHL at +2 times and SKHN at -2 times the daily move.
Which one decays faster, SKHL or SKHN?: Decay follows how much the underlying moves about. Over this window SKHL’s moved at 78% annualized and SKHN’s at 55%, so SKHL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold SKHL 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.
Which is cheaper, SKHL or SKHN?: SKHL charges 0.97% a year and SKHN charges 1.49%, so SKHL is cheaper. Fees come from each fund's prospectus.

Other comparisons

SKHL vs SKHQ SKHL vs SKHU SKHL vs SKHX SKHL vs SKUU SKHN vs SKHQ SKHN vs SKHU SKHN vs SKHX SKHN vs SK

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

Where these figures came from

SKHL filings on SEC EDGAR ↗SKHL prospectus with the expense ratio (SEC) ↗Direxion website ↗SKHN filings on SEC EDGAR ↗SKHN prospectus with the expense ratio (SEC) ↗Tradr 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, SKHL against SKHN, data as of Oct 21, 2026. https://etfiq.com/compare/leverage/skhl-vs-skhn

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