{"url":"https://etfiq.com/compare/leverage/upw-vs-xlux","section":"compare","title":"UPW vs XLUX: which held to its multiple? | ETFIQ","description":"UPW sets out to return +2 times XLU each day and XLUX +2 times. Over the three months to Sep 30, 2026 they finished \u22120.1 pts and \u22120.6 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, UPW or XLUX?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, UPW finished 0.1 points from what its multiple implies and XLUX finished 0.6 points from its own, so UPW came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are UPW and XLUX levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on utilities, UPW at +2 times and XLUX at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, UPW or XLUX?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window UPW\u2019s moved at 14% annualized and XLUX\u2019s at 14%, so UPW has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold UPW or XLUX 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, UPW or XLUX?","acceptedAnswer":{"@type":"Answer","text":"UPW charges 0.95% a year and XLUX charges 0.45%, so XLUX 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":"UPW vs XLUX","item":"https://etfiq.com/compare/leverage/upw-vs-xlux"}]},{"@type":"WebPage","name":"UPW vs XLUX: which held to its multiple?","description":"UPW sets out to return +2 times XLU each day and XLUX +2 times. Over the three months to Sep 30, 2026 they finished \u22120.1 pts and \u22120.6 pts away.","url":"https://etfiq.com/compare/leverage/upw-vs-xlux","dateModified":"2026-09-30","abstract":"Over the days both have traded, UPW finished 0.1 points from its stated multiple and XLUX 0.6.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of UPW and XLUX","description":"UPW sets out to return +2 times XLU each day and XLUX +2 times. Over the three months to Sep 30, 2026 they finished \u22120.1 pts and \u22120.6 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/upw-vs-xlux","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":6492,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / UPW vs XLUX \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n UPW vs XLUX: which held to its multiple?\n\n Over the days both have traded, UPW finished 0.1 points from its stated multiple and XLUX 0.6.\n Copy this for sharing \n \n ProShares Ultra Utilities and Corgi U.S. Utilities 2x Daily ETF.\n\n Download as PDF \n\n \u221222.6% UPW returned, 3 months \n \u221223.1% XLUX returned, 3 months \n \u22120.1 pts UPW from its stated multiple \n \u22120.6 pts XLUX from its stated multiple \n\n ETFIQ Decay Resistance Score: UPW scores higher\n Did it keep up with its own d","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/upw-vs-xlux","a":{"ticker":"UPW","name":"ProShares Ultra Utilities","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: UPW returned \u221222.6% where its own daily promise gave \u221221.7%, 0.9 points short.","url":"https://etfiq.com/funds/upw","key_facts":[{"label":"What XLU did","value":"\u221211.3%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221221.7%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221222.6%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22120.9 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$11m","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":"XLUX","name":"Corgi U.S. Utilities 2x Daily ETF","issuer":"Corgi","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: XLUX returned \u221223.1% where its own daily promise gave \u221221.7%, 1.5 points short.","url":"https://etfiq.com/funds/xlux","key_facts":[{"label":"What XLU did","value":"\u221211.3%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221221.7%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221223.1%","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":"$299,403","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/upw-vs-xlux"}