SKHX vs SKUU: Leverage, Returns & Decay
Over the days both have traded, SKHX finished 3.3 points from its stated multiple and SKUU 3.6. Net assets: $73m on Oct 20, 2026 for Leverage Shares 2X Long SK Hynix Daily ETF, and $163m on Oct 21, 2026 for GraniteShares 2x Long SK Hynix Daily ETF.
SKHX costs 0.75 points a year less.
Points (pts) are percentage points.
| SKHX | SKUU | |
|---|---|---|
| Expense ratio | 0.75% | 1.50% |
| Net assets, SKHX as of Oct 20, 2026 and SKUU as of Oct 21, 2026 | $73m | $163m |
| What it tracks | SK Hynix (from its own objective) | SK Hynix Inc. (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 | 3.1 points short | 2.2 points short |
SKHX returned −38.4% 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.
SKUU returned −37.5% 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 | SKHX | SKUU | SKHX | SKUU | SKHX | SKUU |
| 1 month | −45.1% | −44.8% | −48.4% | −48.4% | +3.3 pts | +3.6 pts |
| 3 months | −38.4% | −37.5% | −26.6% | −26.6% | −11.8 pts | −10.9 pts |
| Since launch SKHX Jul 2026 · SKUU Jul 2026 | −57.8% | −57.2% | −52.2% | −52.2% | −5.6 pts | −5.0 pts |
Source: ETFIQ. Open this comparison in the app →
On the same fields
As of Oct 21, 2026. Source: ETFIQ.
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. That is not the fund's objective, which is daily. 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 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, SKHX lost 38.4%, against −35.3% for twice SKHY's daily moves.
About SKUU
Read the multiple against the whole window instead and 2 times SKHY's −13.3% implies −26.6%, which makes SKUU look 10.9 points short. Of that 10.9, daily compounding is −8.7 points, which any 2 times fund would show over the same path, and the fund itself is −2.2 points against 2 times each day's move, compounded. SKUU aims to return +2 times SKHY's move each day, then resets.
Over the three months to Oct 21, 2026, SKUU lost 37.5%, against −35.3% for twice SKHY's daily moves.
Questions people ask
- Which came closer to its daily multiple, SKHX or SKUU?
- Over the window to Oct 21, 2026, SKHX finished 11.8 points from what its multiple implies and SKUU finished 10.9 points from its own, so SKUU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SKHX and SKUU levered on the same thing?
- Yes. Both are levered on SK hynix, SKHX at +2 times and SKUU at +2 times the daily move.
- Which one decays faster, SKHX or SKUU?
- Decay follows how much the underlying moves about. Over this window SKHX’s moved at 78% annualized and SKUU’s at 78%, so SKHX has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SKHX or SKUU 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, SKHX against SKUU, data as of Oct 21, 2026. https://etfiq.com/compare/leverage/skhx-vs-skuu
ETFIQ. (Oct 21, 2026). SKHX against SKUU. Retrieved from https://etfiq.com/compare/leverage/skhx-vs-skuu
[SKHX against SKUU (ETFIQ, Oct 21, 2026)](https://etfiq.com/compare/leverage/skhx-vs-skuu)
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