Which came closer to its stated multiple, SPAL or SSPC?

Over the window to Sep 30, 2026, SPAL finished 12.6 points from what its multiple implies and SSPC finished 33.9 points from its own, so SPAL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are SPAL and SSPC levered on the same thing?

Yes. Both are levered on Space Exploration Technologies, SPAL at +2 times and SSPC at -2 times the daily move.

Which one decays faster, SPAL or SSPC?

Decay follows how much the underlying moves about. Over this window SPAL’s moved at 70% annualized and SSPC’s at 70%, so SPAL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold SPAL or SSPC 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.

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SPAL vs SSPC: which held to its multiple?

Over three months against its own daily promise, SPAL finished 2.4 points short and SSPC 0.2 points short. GraniteShares 2x Long SpaceX Daily ETF and Leverage Shares 2X Short SPCX Daily ETF.

−21.1%

SPAL returned, 3 months

−25.4%

SSPC returned, 3 months

−12.6 pts

SPAL from its stated multiple

−33.9 pts

SSPC from its stated multiple

SPAL · 3 months to Sep 30, 202612.6 pts short of its stated multiple

SPAL returned −21.1% while 2 times SPCX's move would have been −8.5%

SSPC · 3 months to Sep 30, 202633.9 pts short of its stated multiple

SSPC returned −25.4% while −2 times SPCX's move would have been +8.5%

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

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

SPAL 57

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

SSPC among the 125 inverse ETFs over three months

SSPC 14

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

A percentile among the 470 leveraged ETFs, long, over three months. SSPC 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	SPAL	SSPC	SPAL	SSPC	SPAL	SSPC
1 month	+7.8%	−13.9%	+10.0%	−10.0%	−2.2 pts	−3.9 pts
3 months	−21.1%	−25.4%	−8.5%	+8.5%	−12.6 pts	−33.9 pts
Since launch SPAL Jun 2026 · SSPC Jun 2026	−50.8%	−3.6%	−43.3%	+43.3%	−7.6 pts	−46.9 pts

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

On the same fields

SPAL

GraniteShares 2x Long SpaceX Daily ETF · Aims to return twice the daily move of Space Exploration Technologies (SPCX)

SSPC

Leverage Shares 2X Short SPCX Daily ETF · Aims to return twice the opposite of the daily move of Space Exploration Technologies (SPCX)

Issuer GraniteShares Leverage Shares

Sets out to return +2x -2x

Underlying asset SPCX SPCX

Segment company company

Fund returned, 3 months or since launch −21.1% −25.4%

Underlying returned, over that window −4.2% −4.2%

What the stated multiple implies, over that window −8.5% +8.5%

Difference from stated, over that window −12.6 pts −33.9 pts

Fund returned, 1 year or since launch −50.8% −3.6%

Difference from stated, over that window −7.6 pts −46.9 pts

Underlying volatility 70% 70%

Difference over the days both have traded −12.6 pts −3.9 pts

Expense ratio 1.50% not published

Launched Jun 15, 2026 Jun 15, 2026

Net assets $38m $105m

SPAL and SSPC on the same fields, as of Sep 30, 2026. Source: ETFIQ.

SPAL in plain words

Three months to Sep 30, 2026: SPAL returned −21.1% where its own daily promise gave −18.6%, 2.4 points short. Read the multiple against the whole window instead and 2 times SPCX's −4.2% implies −8.5%, which makes SPAL look 12.6 points short. 10.2 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. SPAL aims to return +2 times SPCX'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. SPCX moved at 70% 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.

SSPC in plain words

Three months to Sep 30, 2026: SSPC returned −25.4% where its own daily promise gave −25.1%, 0.2 points short. Read the multiple against the whole window instead and −2 times SPCX's −4.2% implies +8.5%, which makes SSPC look 33.9 points short. 33.6 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. SSPC aims to return -2 times SPCX'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, SPAL or SSPC?: Over the window to Sep 30, 2026, SPAL finished 12.6 points from what its multiple implies and SSPC finished 33.9 points from its own, so SPAL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are SPAL and SSPC levered on the same thing?: Yes. Both are levered on Space Exploration Technologies, SPAL at +2 times and SSPC at -2 times the daily move.
Which one decays faster, SPAL or SSPC?: Decay follows how much the underlying moves about. Over this window SPAL’s moved at 70% annualized and SSPC’s at 70%, so SPAL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold SPAL or SSPC 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.

Other comparisons

SPAL vs SPCM SPAL vs SPCQ SPAL vs SPCU SPAL vs DSPC SSPC vs DSPC SSPC vs SPAX SSPC vs SPCF SSPC vs SPCG

SPAL on its own →SSPC on its own →How every figure is computed →Standards and sources →

Where these figures came from

SPAL filings on SEC EDGAR ↗SPAL prospectus with the expense ratio (SEC) ↗GraniteShares page for SPAL ↗Leverage Shares 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, SPAL against SSPC, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/spal-vs-sspc

Open data

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