{"url":"https://etfiq.com/compare/leverage/spyq-vs-upro","section":"compare","title":"SPYQ vs UPRO: Leverage, Returns & Decay | ETFIQ","description":"SPYQ sets out to return +2 times SPY each day and UPRO +3 times. Over the three months to Oct 22, 2026 they finished \u22121.9 pts and \u22123.3 pts away.","as_of":"Oct 22, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its daily multiple, SPYQ or UPRO?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Oct 22, 2026, SPYQ finished 1.9 points from what its multiple implies and UPRO finished 3.3 points from its own, so SPYQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SPYQ and UPRO levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on the S&P 500, SPYQ at +2 times and UPRO at +3 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SPYQ or UPRO?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SPYQ\u2019s moved at 11% annualized and UPRO\u2019s at 11%, so SPYQ has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SPYQ or UPRO 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, SPYQ or UPRO?","acceptedAnswer":{"@type":"Answer","text":"SPYQ charges 1.00% a year and UPRO charges 0.88%, so UPRO 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":"SPYQ vs UPRO","item":"https://etfiq.com/compare/leverage/spyq-vs-upro"}]},{"@type":"WebPage","name":"SPYQ vs UPRO: Leverage, Returns & Decay","description":"SPYQ sets out to return +2 times SPY each day and UPRO +3 times. Over the three months to Oct 22, 2026 they finished \u22121.9 pts and \u22123.3 pts away.","url":"https://etfiq.com/compare/leverage/spyq-vs-upro","dateModified":"2026-10-22","abstract":"Over three months against its daily multiple, compounded, SPYQ finished 1.8 points short and UPRO 2.8 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 SPYQ and UPRO","description":"SPYQ sets out to return +2 times SPY each day and UPRO +3 times. Over the three months to Oct 22, 2026 they finished \u22121.9 pts and \u22123.3 pts away.","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/spyq-vs-upro","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":8008,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Compare ETFs / SPYQ vs UPRO \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 22, 2026 .\n\n SPYQ vs UPRO: Leverage, Returns & Decay\n\n Over three months against its daily multiple, compounded, SPYQ finished 1.8 points short and UPRO 2.8 points short.\n Copy this for sharing \n \n UPRO costs 0.12 points a year less; their one-year returns differ by 10.4 points; UPRO is far larger, $5.4bn against $13m.\n SPYQ and UPRO at a glance. As of Oct 22, 2026. Source: ETFIQ. SPYQ UPRO \n Expense ratio 1.00% 0.88% \n Net assets $13m $5.4bn \n Total return, 1 year +22.5% +32.9% \n Wh","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, SPYQ against UPRO, data as of Oct 22, 2026. https://etfiq.com/compare/leverage/spyq-vs-upro","a":{"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"}]},"b":{"ticker":"UPRO","name":"ProShares UltraPro S&P500","issuer":"ProShares","desk":"leverage","as_of":"2026-10-22","verdict":"Over the three months to Oct 22, 2026, UPRO returned 7.8%, against 10.7% for three times SPY's daily moves.","url":"https://etfiq.com/funds/upro","key_facts":[{"label":"What SPY did","value":"+3.7%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What 3 times a day gives","value":"+10.7%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"What the fund returned","value":"+7.8%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Gap to 3 times a day","value":"\u22122.8 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":"1.0%","as_of":"2026-10-22","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 23, 2026","value":"$0.2698","as_of":"2026-09-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$5.4bn","as_of":"2026-10-22","source":"issuer page, as of Oct 22, 2026"},{"label":"Expense ratio","value":"0.88%","as_of":"2026-09-25","source":"485BPOS XBRL, Sep 25, 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/spyq-vs-upro"}