SKHN vs SKHU: Leverage, Returns & Decay
Over a month against its daily multiple, compounded, SKHN finished 0.1 points short and SKHU 1.0 points short. Net assets on Oct 21, 2026: $728,651 for Tradr 2X Short SK Hynix Daily ETF and $47m for ProShares Ultra SK hynix.
SKHU costs 0.54 points a year less; SKHU is far larger, $47m against $728,651.
Points (pts) are percentage points.
| SKHN | SKHU | |
|---|---|---|
| Expense ratio | 1.49% | 0.95% |
| Net assets | $728,651 | $47m |
| What it tracks | SK Hynix | SKHY (from its own objective) |
| Holdings in common | not published | |
| What its daily multiple gave | 59.1% (1 month) | −35.3% (3 months) |
| Against its daily multiple | 0.1 points short (1 month) | 4.0 points short (3 months) |
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.
SKHU returned −39.3% while 2 times SKHY's move would have been −26.6%. Figures from Jul 22, 2026 to Oct 21, 2026.
SKHU returned −39.3% while 2 times SKHY's move would have been −26.6%. Figures from Jul 22, 2026 to Oct 21, 2026.
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | SKHN | SKHU | SKHN | SKHU | SKHN | SKHU |
| 1 month | +59.1% | −45.3% | +48.4% | −48.4% | +10.7 pts | +3.1 pts |
| 3 months | – | −39.3% | – | −26.6% | – | −12.7 pts |
| Since launch Not the same days: SKHN Jul 2026 · SKHU Jul 2026 | −45.5% | −58.4% | −20.2% | −52.2% | −25.3 pts | −6.2 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 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. That is not the fund's objective, which is daily. SKHN 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 55% annualized over that window. The more it moves, the further the two figures separate.
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.
About SKHU
Read the multiple against the whole window instead and 2 times SKHY's −13.3% implies −26.6%, which makes SKHU look 12.7 points short. Of that 12.7, daily compounding is −8.7 points, which any 2 times fund would show over the same path, and the fund itself is −4.0 points against 2 times each day's move, compounded. SKHU 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 78% annualized over that window.
Over the three months to Oct 21, 2026, SKHU lost 39.3%, against −35.3% for twice SKHY's daily moves.
Questions people ask
- Which came closer to its daily multiple, SKHN or SKHU?
- Over the window to Oct 21, 2026, SKHN finished 10.7 points from what its multiple implies and SKHU finished 12.7 points from its own, so SKHN came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SKHN and SKHU levered on the same thing?
- Yes. Both are levered on SK hynix, SKHN at -2 times and SKHU at +2 times the daily move.
- Which one decays faster, SKHN or SKHU?
- Decay follows how much the underlying moves about. Over this window SKHN’s moved at 55% annualized and SKHU’s at 78%, so SKHU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SKHN or SKHU 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, SKHN against SKHU, data as of Oct 21, 2026. https://etfiq.com/compare/leverage/skhn-vs-skhu
ETFIQ. (Oct 21, 2026). SKHN against SKHU. Retrieved from https://etfiq.com/compare/leverage/skhn-vs-skhu
[SKHN against SKHU (ETFIQ, Oct 21, 2026)](https://etfiq.com/compare/leverage/skhn-vs-skhu)
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