XLPD vs XLPU: which held to its multiple?
Over the days both have traded against its own daily promise, XLPD finished 0.3 points short and XLPU 0.4 points short. MicroSectors -3x Short Consumer Staples (XLP) ETNs and MicroSectors 3x Long Consumer Staples (XLP) ETNs.
XLPD returned +6.6% while −3 times XLP's move would have been +7.1%
XLPU returned −7.5% while 3 times XLP's move would have been −7.1%
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | XLPD | XLPU | XLPD | XLPU | XLPD | XLPU |
| Since launch XLPD Sep 2026 · XLPU Sep 2026 | +6.6% | −7.5% | +7.1% | −7.1% | −0.5 pts | −0.5 pts |
XLPD and XLPU over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
XLPD and XLPU on the same fields, as of Sep 30, 2026. Source: ETFIQ.
XLPD in plain words
Since launch to Sep 30, 2026: XLPD returned +6.6% where its own daily promise gave +6.9%, 0.3 points short. Read the multiple against the whole window instead and −3 times XLP's −2.4% implies +7.1%, which makes XLPD look 0.5 points short. 0.2 of that is daily compounding, which happens to any −3 times fund over the same path, and the rest is the fund. XLPD aims to return -3 times XLP's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -3 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. XLP moved at 12% 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.
XLPU in plain words
Since launch to Sep 30, 2026: XLPU returned −7.5% where its own daily promise gave −7.1%, 0.4 points short. Read the multiple against the whole window instead and 3 times XLP's −2.4% implies −7.1%, which makes XLPU look 0.5 points short. 0.1 of that is daily compounding, which happens to any 3 times fund over the same path, and the rest is the fund. XLPU aims to return +3 times XLP's move each day, then resets. Over longer, the daily results compound, so the total is not +3 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.
Questions people ask
- Are XLPD and XLPU levered on the same thing?
- Yes. Both are levered on State Street Consumer Staples Select Sector SPDR ETF, XLPD at -3 times and XLPU at +3 times the daily move.
- Can I hold XLPD or XLPU 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.
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.
ETFIQ, XLPD against XLPU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/xlpd-vs-xlpu
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, XLPD against XLPU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/xlpd-vs-xlpu Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, XLPD against XLPU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/xlpd-vs-xlpu
- APA
- ETFIQ. (Sep 30, 2026). XLPD against XLPU. Retrieved from https://etfiq.com/compare/leverage/xlpd-vs-xlpu
- Markdown
- [XLPD against XLPU (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/xlpd-vs-xlpu)