{"url":"https://etfiq.com/compare/leverage/smrx-vs-smup","section":"compare","title":"SMRX vs SMUP: which held to its multiple? | ETFIQ","description":"SMRX sets out to return +2 times SMR each day and SMUP +2 times. Over the month to Sep 30, 2026 they finished \u22124.8 pts and \u22125.1 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, SMRX or SMUP?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, SMRX finished 4.8 points from what its multiple implies and SMUP finished 8.5 points from its own, so SMRX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SMRX and SMUP levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on NuScale Power, SMRX at +2 times and SMUP at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SMRX or SMUP?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SMRX\u2019s moved at 97% annualized and SMUP\u2019s at 89%, so SMRX has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SMRX or SMUP for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, SMRX or SMUP?","acceptedAnswer":{"@type":"Answer","text":"SMRX charges 0.45% a year and SMUP charges 1.50%, so SMRX is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"SMRX vs SMUP","item":"https://etfiq.com/compare/leverage/smrx-vs-smup"}]},{"@type":"WebPage","name":"SMRX vs SMUP: which held to its multiple?","description":"SMRX sets out to return +2 times SMR each day and SMUP +2 times. Over the month to Sep 30, 2026 they finished \u22124.8 pts and \u22125.1 pts away.","url":"https://etfiq.com/compare/leverage/smrx-vs-smup","dateModified":"2026-09-30","abstract":"Over the days both have traded, SMRX finished 4.8 points from its stated multiple and SMUP 5.1.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SMRX and SMUP","description":"SMRX sets out to return +2 times SMR each day and SMUP +2 times. Over the month to Sep 30, 2026 they finished \u22124.8 pts and \u22125.1 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/smrx-vs-smup","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6258,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / SMRX vs SMUP \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n SMRX vs SMUP: which held to its multiple?\n\n Over the days both have traded, SMRX finished 4.8 points from its stated multiple and SMUP 5.1.\n Copy this for sharing \n \n Corgi SMR 2x Daily ETF and T-REX 2X Long SMR Daily Target ETF.\n\n Download as PDF \n\n \u221238.7% SMRX returned, since launch \n \u221252.9% SMUP returned, 3 months \n \u221213.5 pts SMRX from its stated multiple \n \u22128.5 pts SMUP from its stated multiple \n\n SMRX 4.8 pts short of its stated multiple \u00b7 1 month to Sep 30, 2026 [S","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/smrx-vs-smup","a":{"ticker":"SMRX","name":"Corgi SMR 2x Daily ETF","issuer":"Corgi","desk":"leverage","as_of":"2026-09-30","verdict":"One month to Sep 30, 2026: SMRX returned \u221234.4% where its own daily promise gave \u221233.3%, 1.1 points short.","url":"https://etfiq.com/funds/smrx","key_facts":[{"label":"What SMR did","value":"\u221214.8%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221233.3%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221234.4%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.1 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$230,697","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.45%","as_of":"2026-09-30","source":"485BPOS XBRL, Jun 5, 2026"}]},"b":{"ticker":"SMUP","name":"T-REX 2X Long SMR Daily Target ETF","issuer":"T-REX","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SMUP returned \u221252.9% where its own daily promise gave \u221250.5%, 2.4 points short.","url":"https://etfiq.com/funds/smup","key_facts":[{"label":"What SMR did","value":"\u221222.2%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221250.5%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221252.9%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$6m","as_of":"2026-09-30","source":"issuer page, as of Sep 29, 2026"},{"label":"Expense ratio","value":"1.50%","as_of":"2026-09-30","source":"485BPOS XBRL, Apr 30, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/smrx-vs-smup"}