{"url":"https://etfiq.com/compare/leverage/tza-vs-urty","section":"compare","title":"TZA vs URTY: which held to its multiple? | ETFIQ","description":"TZA sets out to return -3 times IWM each day and URTY +3 times. Over the three months to Sep 30, 2026 they finished +4.2 pts and \u22121.6 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, TZA or URTY?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, TZA finished 4.2 points from what its multiple implies and URTY finished 1.6 points from its own, so URTY came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are TZA and URTY levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on the Russell 2000, TZA at -3 times and URTY at +3 times the daily move."}},{"@type":"Question","name":"Which one decays faster, TZA or URTY?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window TZA\u2019s moved at 13% annualized and URTY\u2019s at 13%, so TZA has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold TZA or URTY 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, TZA or URTY?","acceptedAnswer":{"@type":"Answer","text":"TZA charges 0.99% a year and URTY charges 0.95%, so URTY 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":"TZA vs URTY","item":"https://etfiq.com/compare/leverage/tza-vs-urty"}]},{"@type":"WebPage","name":"TZA vs URTY: which held to its multiple?","description":"TZA sets out to return -3 times IWM each day and URTY +3 times. Over the three months to Sep 30, 2026 they finished +4.2 pts and \u22121.6 pts away.","url":"https://etfiq.com/compare/leverage/tza-vs-urty","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, TZA finished 4.2 points over and URTY 1.9 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 TZA and URTY","description":"TZA sets out to return -3 times IWM each day and URTY +3 times. Over the three months to Sep 30, 2026 they finished +4.2 pts and \u22121.6 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/tza-vs-urty","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":7179,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / TZA vs URTY \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n TZA vs URTY: which held to its multiple?\n\n Over three months against its own daily promise, TZA finished 4.2 points over and URTY 1.9 points short.\n Copy this for sharing \n \n Direxion Daily Small Cap Bear 3X ETF and ProShares UltraPro Russell2000.\n\n Download as PDF \n\n +25.0% TZA returned, 3 months \n \u221222.3% URTY returned, 3 months \n +4.2 pts TZA from its stated multiple \n \u22121.6 pts URTY from its stated multiple \n\n ETFIQ Decay Resistance Score: TZA scores higher\n Did it keep","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/tza-vs-urty","a":{"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"}]},"b":{"ticker":"URTY","name":"ProShares UltraPro Russell2000","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: URTY returned \u221222.3% where its own daily promise gave \u221220.4%, 1.9 points short.","url":"https://etfiq.com/funds/urty","key_facts":[{"label":"What IWM did","value":"\u22126.9%","as_of":"2026-09-30","source":null},{"label":"What 3 times a day gives","value":"\u221220.4%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221222.3%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.9 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$271m","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"}]},"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/tza-vs-urty"}