{"url":"https://etfiq.com/compare/leverage/spax-vs-spcf","section":"compare","title":"SPAX vs SPCF: which held to its multiple? | ETFIQ","description":"SPAX sets out to return +2 times SPCX each day and SPCF +2 times. Over the three months to Sep 30, 2026 they finished \u221213.5 pts and \u221214.1 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, SPAX or SPCF?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, SPAX finished 13.5 points from what its multiple implies and SPCF finished 14.1 points from its own, so SPAX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SPAX and SPCF levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Space Exploration Technologies, SPAX at +2 times and SPCF at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SPAX or SPCF?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SPAX\u2019s moved at 70% annualized and SPCF\u2019s at 70%, so SPAX has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SPAX or SPCF 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, SPAX or SPCF?","acceptedAnswer":{"@type":"Answer","text":"SPAX charges 1.50% a year and SPCF charges 0.95%, so SPCF 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":"SPAX vs SPCF","item":"https://etfiq.com/compare/leverage/spax-vs-spcf"}]},{"@type":"WebPage","name":"SPAX vs SPCF: which held to its multiple?","description":"SPAX sets out to return +2 times SPCX each day and SPCF +2 times. Over the three months to Sep 30, 2026 they finished \u221213.5 pts and \u221214.1 pts away.","url":"https://etfiq.com/compare/leverage/spax-vs-spcf","dateModified":"2026-09-30","abstract":"Over the days both have traded, SPAX finished 13.5 points from its stated multiple and SPCF 14.1.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SPAX and SPCF","description":"SPAX sets out to return +2 times SPCX each day and SPCF +2 times. Over the three months to Sep 30, 2026 they finished \u221213.5 pts and \u221214.1 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/spax-vs-spcf","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":6477,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / SPAX vs SPCF \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n SPAX vs SPCF: which held to its multiple?\n\n Over the days both have traded, SPAX finished 13.5 points from its stated multiple and SPCF 14.1.\n Copy this for sharing \n \n T-REX 2X Long SpaceX Daily Target ETF and ProShares Ultra SpaceX.\n\n Download as PDF \n\n \u221222.0% SPAX returned, 3 months \n \u221222.6% SPCF returned, 3 months \n \u221213.5 pts SPAX from its stated multiple \n \u221214.1 pts SPCF from its stated multiple \n\n ETFIQ Decay Resistance Score: SPAX scores higher\n Did it keep up wit","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/spax-vs-spcf","a":{"ticker":"SPAX","name":"T-REX 2X Long SpaceX Daily Target ETF","issuer":"T-REX","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SPAX returned \u221222.0% where its own daily promise gave \u221218.6%, 3.4 points short.","url":"https://etfiq.com/funds/spax","key_facts":[{"label":"What SPCX did","value":"\u22124.2%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221218.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221222.0%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22123.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$46m","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, Jun 9, 2026"}]},"b":{"ticker":"SPCF","name":"ProShares Ultra SpaceX","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SPCF returned \u221222.6% where its own daily promise gave \u221218.6%, 4.0 points short.","url":"https://etfiq.com/funds/spcf","key_facts":[{"label":"What SPCX did","value":"\u22124.2%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221218.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221222.6%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22124.0 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$94m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Jun 8, 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/spax-vs-spcf"}