Which came closer to its stated multiple, SNDG or SNDQ?

Over the window to Sep 30, 2026, SNDG finished 21.1 points from what its multiple implies and SNDQ finished 83.4 points from its own, so SNDG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are SNDG and SNDQ levered on the same thing?

Yes. Both are levered on Sandisk, SNDG at +2 times and SNDQ at -2 times the daily move.

Which one decays faster, SNDG or SNDQ?

Decay follows how much the underlying moves about. Over this window SNDG’s moved at 117% annualized and SNDQ’s at 117%, so SNDG has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold SNDG or SNDQ for a year?

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’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, SNDG or SNDQ?

SNDG charges 0.75% a year and SNDQ charges 1.49%, so SNDG is cheaper. Fees come from each fund's prospectus.

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SNDG vs SNDQ: which held to its multiple?

Over three months against its own daily promise, SNDG finished 2.2 points short and SNDQ 0.3 points over. Leverage Shares 2X Long SNDK Daily ETF and Tradr 2X Short SNDK Daily ETF.

−49.9%

SNDG returned, 3 months

−54.7%

SNDQ returned, 3 months

−21.1 pts

SNDG from its stated multiple

−83.4 pts

SNDQ from its stated multiple

SNDG · 3 months to Sep 30, 202621.1 pts short of its stated multiple

SNDG returned −49.9% while 2 times SNDK's move would have been −28.8%

SNDQ · 3 months to Sep 30, 202683.4 pts short of its stated multiple

SNDQ returned −54.7% while −2 times SNDK's move would have been +28.8%

ETFIQ Decay Resistance Score · SNDG scores higherDid it keep up with its own daily multiple, compounded day by day?

SNDG among the 470 leveraged ETFs, long, over three months

SNDG 64.5

0.1, the lowest in this set99.9, the highest

SNDQ among the 125 inverse ETFs over three months

SNDQ 23.2

0.4, the lowest in this set99.6, the highest

A percentile among the 470 leveraged ETFs, long, over three months. SNDQ is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	SNDG	SNDQ	SNDG	SNDQ	SNDG	SNDQ
1 month	+16.3%	−29.4%	+22.1%	−22.1%	−5.8 pts	−7.3 pts
3 months	−49.9%	−54.7%	−28.8%	+28.8%	−21.1 pts	−83.4 pts
Since launch SNDG May 2026 · SNDQ Apr 2026	−20.9%	−96.1%	+39.7%	−173.2%	−60.6 pts	+77.1 pts

SNDG and SNDQ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

SNDG

Leverage Shares 2X Long SNDK Daily ETF · Aims to return twice the daily move of Sandisk (SNDK)

SNDQ

Tradr 2X Short SNDK Daily ETF · Aims to return twice the opposite of the daily move of Sandisk (SNDK)

Issuer Leverage Shares Tradr

Sets out to return +2x -2x

Underlying asset SNDK SNDK

Segment company company

Fund returned, 3 months or since launch −49.9% −54.7%

Underlying returned, over that window −14.4% −14.4%

What the stated multiple implies, over that window −28.8% +28.8%

Difference from stated, over that window −21.1 pts −83.4 pts

Fund returned, 1 year or since launch −20.9% −96.1%

Difference from stated, over that window −60.6 pts +77.1 pts

Underlying volatility 117% 117%

Difference over the days both have traded −21.1 pts no shared window

Expense ratio 0.75% 1.49%

Launched May 12, 2026 Apr 23, 2026

Net assets $105m $146m

SNDG and SNDQ on the same fields, as of Sep 30, 2026. Source: ETFIQ.

SNDG in plain words

Three months to Sep 30, 2026: SNDG returned −49.9% where its own daily promise gave −47.7%, 2.2 points short. Read the multiple against the whole window instead and 2 times SNDK's −14.4% implies −28.8%, which makes SNDG look 21.1 points short. 18.9 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. SNDG aims to return +2 times SNDK's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. SNDK moved at 117% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

SNDQ in plain words

Three months to Sep 30, 2026: SNDQ returned −54.7% where its own daily promise gave −55.0%, 0.3 points over. Read the multiple against the whole window instead and −2 times SNDK's −14.4% implies +28.8%, which makes SNDQ look 83.4 points short. 83.8 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. SNDQ aims to return -2 times SNDK's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.

Questions people ask

Which came closer to its stated multiple, SNDG or SNDQ?: Over the window to Sep 30, 2026, SNDG finished 21.1 points from what its multiple implies and SNDQ finished 83.4 points from its own, so SNDG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are SNDG and SNDQ levered on the same thing?: Yes. Both are levered on Sandisk, SNDG at +2 times and SNDQ at -2 times the daily move.
Which one decays faster, SNDG or SNDQ?: Decay follows how much the underlying moves about. Over this window SNDG’s moved at 117% annualized and SNDQ’s at 117%, so SNDG has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold SNDG or SNDQ for a year?: 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’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, SNDG or SNDQ?: SNDG charges 0.75% a year and SNDQ charges 1.49%, so SNDG is cheaper. Fees come from each fund's prospectus.

Other comparisons

SNDG vs SNDU SNDG vs SNXX SNDG vs SNDC SNDQ vs SNDU SNDQ vs SNXX SNDQ vs SNDC

SNDG on its own →SNDQ on its own →How every figure is computed →Standards and sources →

Where these figures came from

SNDG filings on SEC EDGAR ↗SNDG prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗SNDQ filings on SEC EDGAR ↗SNDQ prospectus with the expense ratio (SEC) ↗Tradr website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, SNDG against SNDQ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/sndg-vs-sndq

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.