{"url":"https://etfiq.com/compare/leverage/smu-vs-smz","section":"compare","title":"SMU vs SMZ: which held to its multiple? | ETFIQ","description":"SMU sets out to return +2 times SMR each day and SMZ -2 times. Over the three months to Sep 30, 2026 they finished \u22129.4 pts and \u221260.2 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, SMU or SMZ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, SMU finished 9.4 points from what its multiple implies and SMZ finished 60.2 points from its own, so SMU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SMU and SMZ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on NuScale Power, SMU at +2 times and SMZ at -2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SMU or SMZ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SMU\u2019s moved at 89% annualized and SMZ\u2019s at 89%, so SMU has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SMU or SMZ 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, SMU or SMZ?","acceptedAnswer":{"@type":"Answer","text":"SMU charges 1.30% a year and SMZ charges 1.49%, so SMU 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":"SMU vs SMZ","item":"https://etfiq.com/compare/leverage/smu-vs-smz"}]},{"@type":"WebPage","name":"SMU vs SMZ: which held to its multiple?","description":"SMU sets out to return +2 times SMR each day and SMZ -2 times. Over the three months to Sep 30, 2026 they finished \u22129.4 pts and \u221260.2 pts away.","url":"https://etfiq.com/compare/leverage/smu-vs-smz","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, SMU finished 3.2 points short and SMZ 5.6 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SMU and SMZ","description":"SMU sets out to return +2 times SMR each day and SMZ -2 times. Over the three months to Sep 30, 2026 they finished \u22129.4 pts and \u221260.2 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/smu-vs-smz","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":6957,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / SMU vs SMZ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n SMU vs SMZ: which held to its multiple?\n\n Over three months against its own daily promise, SMU finished 3.2 points short and SMZ 5.6 points short.\n Copy this for sharing \n \n Tradr 2X Long SMR Daily ETF and Tradr 2X Short SMR Daily ETF.\n\n Download as PDF \n\n \u221253.7% SMU returned, 3 months \n \u221215.9% SMZ returned, 3 months \n \u22129.4 pts SMU from its stated multiple \n \u221260.2 pts SMZ from its stated multiple \n\n ETFIQ Decay Resistance Score: SMU scores higher\n Did it keep up with its o","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/smu-vs-smz","a":{"ticker":"SMU","name":"Tradr 2X Long SMR Daily ETF","issuer":"Tradr","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SMU returned \u221253.7% where its own daily promise gave \u221250.5%, 3.2 points short.","url":"https://etfiq.com/funds/smu","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":"\u221253.7%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22123.2 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$46m","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.30%","as_of":"2026-09-30","source":"485BPOS XBRL, Jul 23, 2026"}]},"b":{"ticker":"SMZ","name":"Tradr 2X Short SMR Daily ETF","issuer":"Tradr","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SMZ returned \u221215.9% where its own daily promise gave \u221210.2%, 5.6 points short.","url":"https://etfiq.com/funds/smz","key_facts":[{"label":"What SMR did","value":"\u221222.2%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221210.2%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221215.9%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22125.6 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$752,915","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.49%","as_of":"2026-09-30","source":"485BPOS XBRL, Jan 20, 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/smu-vs-smz"}