SKHL vs SKHX: Leverage, Returns & Decay
Over the days both have traded, SKHL finished 3.5 points from its stated multiple and SKHX 3.3. Net assets: $38m on Oct 19, 2026 for Direxion Daily SK Hynix Bull 2X ETF, and $73m on Oct 20, 2026 for Leverage Shares 2X Long SK Hynix Daily ETF.
SKHX costs 0.22 points a year less; SKHX is 1.8 times larger.
Points (pts) are percentage points.
| SKHL | SKHX | |
|---|---|---|
| Expense ratio | 0.97% | 0.75% |
| Net assets, as of Oct 19, 2026 | $38m | $69m |
| 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, 3 months | −35.3% | −35.3% |
| Against its daily multiple, 3 months | 2.8 points short | 3.1 points short |
SKHL returned −38.2% 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.
SKHX returned −38.4% 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 | SKHL | SKHX | SKHL | SKHX | SKHL | SKHX |
| 1 month | −44.9% | −45.1% | −48.4% | −48.4% | +3.5 pts | +3.3 pts |
| 3 months | −38.2% | −38.4% | −26.6% | −26.6% | −11.6 pts | −11.8 pts |
| Since launch Not the same days: SKHL Jul 2026 · SKHX Jul 2026 | −48.1% | −57.8% | −37.6% | −52.2% | −10.5 pts | −5.6 pts |
Source: ETFIQ. Open this comparison in the app →
On the same fields
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 SKHX
Read the multiple against the whole window instead and 2 times SKHY's −13.3% implies −26.6%, which makes SKHX look 11.8 points short. Of that 11.8, daily compounding is −8.7 points, which any 2 times fund would show over the same path, and the fund itself is −3.1 points against 2 times each day's move, compounded. SKHX aims to return +2 times SKHY's move each day, then resets.
Over the three months to Oct 21, 2026, SKHX lost 38.4%, against −35.3% for twice SKHY's daily moves.
Questions people ask
- Which came closer to its daily multiple, SKHL or SKHX?
- Over the window to Oct 21, 2026, SKHL finished 11.6 points from what its multiple implies and SKHX finished 11.8 points from its own, so SKHL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SKHL and SKHX levered on the same thing?
- Yes. Both are levered on SK hynix, SKHL at +2 times and SKHX at +2 times the daily move.
- Which one decays faster, SKHL or SKHX?
- Decay follows how much the underlying moves about. Over this window SKHL’s moved at 78% annualized and SKHX’s at 78%, so SKHL has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SKHL or SKHX 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, SKHL against SKHX, data as of Oct 21, 2026. https://etfiq.com/compare/leverage/skhl-vs-skhx
ETFIQ. (Oct 21, 2026). SKHL against SKHX. Retrieved from https://etfiq.com/compare/leverage/skhl-vs-skhx
[SKHL against SKHX (ETFIQ, Oct 21, 2026)](https://etfiq.com/compare/leverage/skhl-vs-skhx)
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