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

Over the window to Sep 30, 2026, SNDQ finished 83.4 points from what its multiple implies and SNXX finished 21.4 points from its own, so SNXX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are SNDQ and SNXX levered on the same thing?

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

Which one decays faster, SNDQ or SNXX?

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

Can I hold SNDQ or SNXX 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, SNDQ or SNXX?

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

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SNDQ vs SNXX: which held to its multiple?

Over three months against its own daily promise, SNDQ finished 0.3 points over and SNXX 2.5 points short. Tradr 2X Short SNDK Daily ETF and Tradr 2X Long SNDK Daily ETF.

−54.7%

SNDQ returned, 3 months

−50.2%

SNXX returned, 3 months

−83.4 pts

SNDQ from its stated multiple

−21.4 pts

SNXX from its stated multiple

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%

SNXX · 3 months to Sep 30, 202621.4 pts short of its stated multiple

SNXX returned −50.2% while 2 times SNDK's move would have been −28.8%

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

SNDQ among the 125 inverse ETFs over three months

SNDQ 23.2

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

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

SNXX 54.8

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

A percentile among the 125 inverse ETFs over three months. SNXX is a percentile among the 470 leveraged ETFs, long, 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	SNDQ	SNXX	SNDQ	SNXX	SNDQ	SNXX
1 month	−29.4%	+16.0%	−22.1%	+22.1%	−7.3 pts	−6.1 pts
3 months	−54.7%	−50.2%	+28.8%	−28.8%	−83.4 pts	−21.4 pts
6 months	not published	+209.2%	not published	not meaningful	not published	not meaningful
Since launch SNDQ Apr 2026 · SNXX Jan 2026	−96.1%	+412.1%	−173.2%	not meaningful	+77.1 pts	not meaningful

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

On the same fields

SNDQ

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

SNXX

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

Issuer Tradr Tradr

Sets out to return -2x +2x

Underlying asset SNDK SNDK

Segment company company

Fund returned, 3 months or since launch −54.7% −50.2%

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 −83.4 pts −21.4 pts

Fund returned, 1 year or since launch −96.1% +412.1%

Difference from stated, over that window +77.1 pts not available

Underlying volatility 117% 117%

Difference over the days both have traded no shared window −21.4 pts

Expense ratio 1.49% 1.49%

Launched Apr 23, 2026 Jan 27, 2026

Net assets $146m $2.0bn

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

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 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.

SNXX in plain words

Three months to Sep 30, 2026: SNXX returned −50.2% where its own daily promise gave −47.7%, 2.5 points short. Read the multiple against the whole window instead and 2 times SNDK's −14.4% implies −28.8%, which makes SNXX look 21.4 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. SNXX 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, SNDQ or SNXX?: Over the window to Sep 30, 2026, SNDQ finished 83.4 points from what its multiple implies and SNXX finished 21.4 points from its own, so SNXX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are SNDQ and SNXX levered on the same thing?: Yes. Both are levered on Sandisk, SNDQ at -2 times and SNXX at +2 times the daily move.
Which one decays faster, SNDQ or SNXX?: Decay follows how much the underlying moves about. Over this window SNDQ’s moved at 117% annualized and SNXX’s at 117%, so SNDQ has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold SNDQ or SNXX 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, SNDQ or SNXX?: SNDQ charges 1.49% a year and SNXX charges 1.49%, so SNDQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

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

Where these figures came from

SNDQ and SNXX filings on SEC EDGAR ↗SNDQ prospectus with the expense ratio (SEC) ↗Tradr website ↗SNXX prospectus with the expense ratio (SEC) ↗

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

Open data

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