{"url":"https://etfiq.com/compare/leverage/spdn-vs-spyq","section":"compare","title":"SPDN vs SPYQ: Leverage, Returns & Decay | ETFIQ","description":"SPDN sets out to return -1 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.6 pts and \u22121.9 pts away.","as_of":"Oct 22, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its daily multiple, SPDN or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Oct 22, 2026, SPDN finished 1.6 points from what its multiple implies and SPYQ finished 1.9 points from its own, so SPDN came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SPDN and SPYQ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on the S&P 500, SPDN at -1 times and SPYQ at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SPDN or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SPDN\u2019s moved at 11% annualized and SPYQ\u2019s at 11%, so SPDN has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SPDN or SPYQ for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day, and daily results compound. Over a year the total is not the multiple times the year\u2019s move; after a fall and recovery it is lower."}},{"@type":"Question","name":"Which is cheaper, SPDN or SPYQ?","acceptedAnswer":{"@type":"Answer","text":"SPDN charges 0.48% a year and SPYQ charges 1.00%, so SPDN 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":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"SPDN vs SPYQ","item":"https://etfiq.com/compare/leverage/spdn-vs-spyq"}]},{"@type":"WebPage","name":"SPDN vs SPYQ: Leverage, Returns & Decay","description":"SPDN sets out to return -1 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.6 pts and \u22121.9 pts away.","url":"https://etfiq.com/compare/leverage/spdn-vs-spyq","dateModified":"2026-10-22","abstract":"Over three months against its daily multiple, compounded, SPDN finished 1.8 points over and SPYQ 1.8 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SPDN and SPYQ","description":"SPDN sets out to return -1 times SPY each day and SPYQ +2 times. Over the three months to Oct 22, 2026 they finished +1.6 pts and \u22121.9 pts away.","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/spdn-vs-spyq","license":"https://etfiq.com/license/","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":8006,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Compare ETFs / SPDN vs SPYQ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 22, 2026 .\n\n SPDN vs SPYQ: Leverage, Returns & Decay\n\n Over three months against its daily multiple, compounded, SPDN finished 1.8 points over and SPYQ 1.8 points short.\n Copy this for sharing \n \n SPDN costs 0.52 points a year less; their one-year returns differ by 31.0 points; SPDN is far larger, $270m against $13m.\n SPDN and SPYQ at a glance. As of Oct 22, 2026. Source: ETFIQ. SPDN SPYQ \n Expense ratio 0.48% 1.00% \n Net assets $270m $13m \n Total return, 1 year \u22128.5% +22.5% \n What i","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/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, SPDN against SPYQ, data as of Oct 22, 2026. https://etfiq.com/compare/leverage/spdn-vs-spyq","a":{"ticker":"SPDN","name":"Direxion Daily S&P 500 Bear 1X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-10-22","verdict":"Over the three months to Oct 22, 2026, SPDN lost 2.1%, against \u22123.9% for the inverse of SPY's daily moves.","url":"https://etfiq.com/funds/spdn","key_facts":[{"label":"What SPY did","value":"+3.7%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What \u22121 times a day gives","value":"\u22123.9%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What the fund returned","value":"\u22122.1%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Gap to \u22121 times a day","value":"+1.8 pts","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"3.2%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 22, 2026","value":"$0.1153","as_of":"2026-09-22","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$270m","as_of":"2026-10-22","source":"issuer page, as of Oct 22, 2026"},{"label":"Expense ratio","value":"0.48%","as_of":"2026-03-03","source":"497 XBRL, Mar 3, 2026"}]},"b":{"ticker":"SPYQ","name":"Tradr 2X Long SPY Quarterly ETF","issuer":"Tradr","desk":"leverage","as_of":"2026-10-22","verdict":"Over the three months to Oct 22, 2026, SPYQ returned 5.5%, against 7.3% for twice SPY's daily moves.","url":"https://etfiq.com/funds/spyq","key_facts":[{"label":"What SPY did","value":"+3.7%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What 2 times a day gives","value":"+7.3%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What the fund returned","value":"+5.5%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Gap to 2 times a day","value":"\u22121.8 pts","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"0.2%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment, ex-date Dec 23, 2025","value":"$0.2711","as_of":"2025-12-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$13m","as_of":"2026-10-22","source":"the issuer\u2019s own daily fund list, as of Oct 22, 2026"},{"label":"Expense ratio","value":"1.00%","as_of":"2026-08-05","source":"497 XBRL, Aug 5, 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/spdn-vs-spyq"}