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

Over the window to Sep 30, 2026, SPCU finished 14.8 points from what its multiple implies and SSPC finished 33.9 points from its own, so SPCU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are SPCU and SSPC levered on the same thing?

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

Which one decays faster, SPCU or SSPC?

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

Can I hold SPCU 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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SPCU vs SSPC: which held to its multiple?

Over three months against its own daily promise, SPCU finished 4.7 points short and SSPC 0.2 points short. Defiance Daily Target 2X Long [SpaceX] ETF and Leverage Shares 2X Short SPCX Daily ETF.

−23.3%

SPCU returned, 3 months

−25.4%

SSPC returned, 3 months

−14.8 pts

SPCU from its stated multiple

−33.9 pts

SSPC from its stated multiple

SPCU · 3 months to Sep 30, 202614.8 pts short of its stated multiple

SPCU returned −23.3% 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 · SPCU scores higherDid it keep up with its own daily multiple, compounded day by day?

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

SPCU 16

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	SPCU	SSPC	SPCU	SSPC	SPCU	SSPC
1 month	+6.8%	−13.9%	+10.0%	−10.0%	−3.2 pts	−3.9 pts
3 months	−23.3%	−25.4%	−8.5%	+8.5%	−14.8 pts	−33.9 pts
Since launch SPCU Jun 2026 · SSPC Jun 2026	−52.0%	−3.6%	−43.3%	+43.3%	−8.8 pts	−46.9 pts

SPCU 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

SPCU

Defiance Daily Target 2X Long [SpaceX] 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 Defiance Leverage Shares

Sets out to return +2x -2x

Underlying asset SPCX SPCX

Segment company company

Fund returned, 3 months or since launch −23.3% −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 −14.8 pts −33.9 pts

Fund returned, 1 year or since launch −52.0% −3.6%

Difference from stated, over that window −8.8 pts −46.9 pts

Underlying volatility 70% 70%

Difference over the days both have traded −14.8 pts −3.9 pts

Expense ratio 1.31% not published

Launched Jun 15, 2026 Jun 15, 2026

Net assets $64m $105m

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

SPCU in plain words

Three months to Sep 30, 2026: SPCU returned −23.3% where its own daily promise gave −18.6%, 4.7 points short. Read the multiple against the whole window instead and 2 times SPCX's −4.2% implies −8.5%, which makes SPCU look 14.8 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. SPCU 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, SPCU or SSPC?: Over the window to Sep 30, 2026, SPCU finished 14.8 points from what its multiple implies and SSPC finished 33.9 points from its own, so SPCU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are SPCU and SSPC levered on the same thing?: Yes. Both are levered on Space Exploration Technologies, SPCU at +2 times and SSPC at -2 times the daily move.
Which one decays faster, SPCU or SSPC?: Decay follows how much the underlying moves about. Over this window SPCU’s moved at 70% annualized and SSPC’s at 70%, so SPCU has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold SPCU 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

SPCU vs SPAL SPCU vs SPAX SPCU vs SPCF SPCU vs SPCG SSPC vs SNK SSPC vs SPAL SSPC vs SPAX SSPC vs SPCF

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

Where these figures came from

SPCU filings on SEC EDGAR ↗SPCU prospectus with the expense ratio (SEC) ↗Defiance page for SPCU ↗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, SPCU against SSPC, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/spcu-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.