{"url":"https://etfiq.com/compare/leverage/srty-vs-tza","section":"compare","title":"SRTY vs TZA: which held to its multiple? | ETFIQ","description":"SRTY sets out to return -3 times IWM each day and TZA -3 times. Over the three months to Sep 30, 2026 they finished +4.5 pts and +4.2 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, SRTY or TZA?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, SRTY finished 4.5 points from what its multiple implies and TZA finished 4.2 points from its own, so TZA came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SRTY and TZA levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on the Russell 2000, SRTY at -3 times and TZA at -3 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SRTY or TZA?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SRTY\u2019s moved at 13% annualized and TZA\u2019s at 13%, so SRTY has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SRTY or TZA 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, SRTY or TZA?","acceptedAnswer":{"@type":"Answer","text":"SRTY charges 0.95% a year and TZA charges 0.99%, so SRTY 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":"SRTY vs TZA","item":"https://etfiq.com/compare/leverage/srty-vs-tza"}]},{"@type":"WebPage","name":"SRTY vs TZA: which held to its multiple?","description":"SRTY sets out to return -3 times IWM each day and TZA -3 times. Over the three months to Sep 30, 2026 they finished +4.5 pts and +4.2 pts away.","url":"https://etfiq.com/compare/leverage/srty-vs-tza","dateModified":"2026-09-30","abstract":"Over the days both have traded, SRTY finished 4.5 points from its stated multiple and TZA 4.2.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SRTY and TZA","description":"SRTY sets out to return -3 times IWM each day and TZA -3 times. Over the three months to Sep 30, 2026 they finished +4.5 pts and +4.2 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/srty-vs-tza","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":6633,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / SRTY vs TZA \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n SRTY vs TZA: which held to its multiple?\n\n Over the days both have traded, SRTY finished 4.5 points from its stated multiple and TZA 4.2.\n Copy this for sharing \n \n ProShares UltraPro Short Russell2000 and Direxion Daily Small Cap Bear 3X ETF.\n\n Download as PDF \n\n +25.2% SRTY returned, 3 months \n +25.0% TZA returned, 3 months \n +4.5 pts SRTY from its stated multiple \n +4.2 pts TZA from its stated multiple \n\n ETFIQ Decay Resistance Score: SRTY scores higher\n Did it keep up","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/srty-vs-tza","a":{"ticker":"SRTY","name":"ProShares UltraPro Short Russell2000","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SRTY returned +25.2% where its own daily promise gave +20.8%, 4.4 points over.","url":"https://etfiq.com/funds/srty","key_facts":[{"label":"What IWM did","value":"\u22126.9%","as_of":"2026-09-30","source":null},{"label":"What \u22123 times a day gives","value":"+20.8%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+25.2%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+4.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$73m","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, Sep 25, 2026"}]},"b":{"ticker":"TZA","name":"Direxion Daily Small Cap Bear 3X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: TZA returned +25.0% where its own daily promise gave +20.8%, 4.2 points over.","url":"https://etfiq.com/funds/tza","key_facts":[{"label":"What IWM did","value":"\u22126.9%","as_of":"2026-09-30","source":null},{"label":"What \u22123 times a day gives","value":"+20.8%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+25.0%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+4.2 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$237m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.99%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 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/srty-vs-tza"}