Which came closer to its stated multiple, UPSC or UPSX?

Over the window to Sep 30, 2026, UPSC finished 2.1 points from what its multiple implies and UPSX finished 8.6 points from its own, so UPSC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are UPSC and UPSX levered on the same thing?

Yes. Both are levered on Upstart, UPSC at +2 times and UPSX at +2 times the daily move.

Which one decays faster, UPSC or UPSX?

Decay follows how much the underlying moves about. Over this window UPSC’s moved at 41% annualized and UPSX’s at 48%, so UPSX has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold UPSC or UPSX 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.

Which is cheaper, UPSC or UPSX?

UPSC charges 0.45% a year and UPSX charges 1.30%, so UPSC is cheaper. Fees come from each fund's prospectus.

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UPSC vs UPSX: which held to its multiple?

Over the days both have traded, UPSC finished 2.1 points from its stated multiple and UPSX 1.9. Corgi UPST 2x Daily ETF and Tradr 2X Long UPST Daily ETF.

−54.0%

UPSC returned, since launch

−62.7%

UPSX returned, 3 months

+5.6 pts

UPSC from its stated multiple

+8.6 pts

UPSX from its stated multiple

UPSC · 1 month to Sep 30, 20262.1 pts ahead of its stated multiple

UPSC returned −37.5% while 2 times UPST's move would have been −39.7%

UPSX · 3 months to Sep 30, 20268.6 pts ahead of its stated multiple

UPSX returned −62.7% while 2 times UPST's move would have been −71.3%

Performance, window by window

	Total return		Multiple would give		Difference
Window	UPSC	UPSX	UPSC	UPSX	UPSC	UPSX
1 month	−37.5%	−37.8%	−39.7%	−39.7%	+2.1 pts	+1.9 pts
3 months	not published	−62.7%	not published	−71.3%	not published	+8.6 pts
6 months	not published	−36.0%	not published	−18.7%	not published	−17.3 pts
1 year	not published	−88.9%	not published	−109.5%	not published	+20.6 pts
Since launch UPSC Jul 2026 · UPSX Jun 2025	−54.0%	−93.1%	−59.6%	−120.3%	+5.6 pts	+27.2 pts

UPSC and UPSX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

UPSC

Corgi UPST 2x Daily ETF · Aims to return twice the daily move of Upstart (UPST)

UPSX

Tradr 2X Long UPST Daily ETF · Aims to return twice the daily move of Upstart (UPST)

Issuer Corgi Tradr

Sets out to return +2x +2x

Underlying asset UPST UPST

Segment company company

Fund returned, 3 months or since launch −37.5% −62.7%

Underlying returned, over that window −19.8% −35.7%

What the stated multiple implies, over that window −39.7% −71.3%

Difference from stated, over that window +2.1 pts +8.6 pts

Fund returned, 1 year or since launch −54.0% −88.9%

Difference from stated, over that window +5.6 pts +20.6 pts

Underlying volatility 41% 48%

Difference over the days both have traded +2.1 pts +1.9 pts

Expense ratio 0.45% 1.30%

Launched Jul 10, 2026 Jun 10, 2025

Net assets $165,832 $14m

UPSC and UPSX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

UPSC in plain words

One month to Sep 30, 2026: UPSC returned −37.5% where its own daily promise gave −36.8%, 0.7 points short. Read the multiple against the whole window instead and 2 times UPST's −19.8% implies −39.7%, which makes UPSC look 2.1 points over. 2.9 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. UPSC aims to return +2 times UPST'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. UPST moved at 41% 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.

UPSX in plain words

Three months to Sep 30, 2026: UPSX returned −62.7% where its own daily promise gave −61.0%, 1.7 points short. Read the multiple against the whole window instead and 2 times UPST's −35.7% implies −71.3%, which makes UPSX look 8.6 points over. 10.3 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. UPSX aims to return +2 times UPST's move each day, then resets. UPST moved at 48% annualized over that window.

Questions people ask

Which came closer to its stated multiple, UPSC or UPSX?: Over the window to Sep 30, 2026, UPSC finished 2.1 points from what its multiple implies and UPSX finished 8.6 points from its own, so UPSC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are UPSC and UPSX levered on the same thing?: Yes. Both are levered on Upstart, UPSC at +2 times and UPSX at +2 times the daily move.
Which one decays faster, UPSC or UPSX?: Decay follows how much the underlying moves about. Over this window UPSC’s moved at 41% annualized and UPSX’s at 48%, so UPSX has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold UPSC or UPSX 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.
Which is cheaper, UPSC or UPSX?: UPSC charges 0.45% a year and UPSX charges 1.30%, so UPSC is cheaper. Fees come from each fund's prospectus.

Other comparisons

UPSC on its own →UPSX on its own →How every figure is computed →Standards and sources →

Where these figures came from

UPSC filings on SEC EDGAR ↗UPSC prospectus with the expense ratio (SEC) ↗Corgi website ↗UPSX filings on SEC EDGAR ↗UPSX prospectus with the expense ratio (SEC) ↗Tradr 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, UPSC against UPSX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/upsc-vs-upsx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.