{"url":"https://etfiq.com/compare/leverage/upv-vs-xeur","section":"compare","title":"UPV vs XEUR: which held to its multiple? | ETFIQ","description":"UPV sets out to return +2 times VGK each day and XEUR +2 times. Over the three months to Sep 30, 2026 they finished \u22121.8 pts and \u22123.3 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, UPV or XEUR?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, UPV finished 1.8 points from what its multiple implies and XEUR finished 3.3 points from its own, so UPV came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are UPV and XEUR levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Vanguard FTSEEuropean ETF, UPV at +2 times and XEUR at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, UPV or XEUR?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window UPV\u2019s moved at 12% annualized and XEUR\u2019s at 12%, so UPV has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold UPV or XEUR 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, UPV or XEUR?","acceptedAnswer":{"@type":"Answer","text":"UPV charges 0.95% a year and XEUR charges 0.45%, so XEUR 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":"UPV vs XEUR","item":"https://etfiq.com/compare/leverage/upv-vs-xeur"}]},{"@type":"WebPage","name":"UPV vs XEUR: which held to its multiple?","description":"UPV sets out to return +2 times VGK each day and XEUR +2 times. Over the three months to Sep 30, 2026 they finished \u22121.8 pts and \u22123.3 pts away.","url":"https://etfiq.com/compare/leverage/upv-vs-xeur","dateModified":"2026-09-30","abstract":"Over the days both have traded, UPV finished 1.8 points from its stated multiple and XEUR 3.3.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of UPV and XEUR","description":"UPV sets out to return +2 times VGK each day and XEUR +2 times. Over the three months to Sep 30, 2026 they finished \u22121.8 pts and \u22123.3 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/upv-vs-xeur","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":6558,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / UPV vs XEUR \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n UPV vs XEUR: which held to its multiple?\n\n Over the days both have traded, UPV finished 1.8 points from its stated multiple and XEUR 3.3.\n Copy this for sharing \n \n ProShares Ultra FTSE Europe and Corgi Europe Equities 2x Daily ETF.\n\n Download as PDF \n\n \u22123.5% UPV returned, 3 months \n \u22125.0% XEUR returned, 3 months \n \u22121.8 pts UPV from its stated multiple \n \u22123.3 pts XEUR from its stated multiple \n\n ETFIQ Decay Resistance Score: UPV scores higher\n Did it keep up with its own ","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/upv-vs-xeur","a":{"ticker":"UPV","name":"ProShares Ultra FTSE Europe","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: UPV returned \u22123.5% where its own daily promise gave \u22122.1%, 1.5 points short.","url":"https://etfiq.com/funds/upv","key_facts":[{"label":"What VGK did","value":"\u22120.9%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u22122.1%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u22123.5%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.5 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$12m","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":"XEUR","name":"Corgi Europe Equities 2x Daily ETF","issuer":"Corgi","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: XEUR returned \u22125.0% where its own daily promise gave \u22122.1%, 2.9 points short.","url":"https://etfiq.com/funds/xeur","key_facts":[{"label":"What VGK did","value":"\u22120.9%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u22122.1%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u22125.0%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.9 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$234,654","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.45%","as_of":"2026-09-30","source":"485BPOS XBRL, May 28, 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/upv-vs-xeur"}