# BRZX (Corgi Brazil 2x Daily ETF)

Corgi · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: BRZX returned +15.7% where its own daily promise gave +19.3%, 3.5 points short.

## Key facts

- BRZX, what EWZ did: +9.8%, as of Sep 11, 2026.
- BRZX, what +2 times a day gives: +19.3%, as of Sep 11, 2026.
- BRZX, what the fund returned: +15.7%, as of Sep 11, 2026.
- BRZX, the fund itself cost: −3.5 pts, as of Sep 11, 2026.
- BRZX, net assets: $351,191 (source, as filed for Jun 30, 2026).
- BRZX, expense ratio: 0.45% (485BPOS XBRL, May 28, 2026).

## BRZX over each window to Sep 11, 2026

| Window | Fund | EWZ | +2x the move | Difference | EWZ moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +25.1% | +12.8% | +25.6% | −0.5 pts | 22% |
| 3 months | +15.7% | +9.8% | +19.7% | −4.0 pts | 22% |
| Since launch | +18.1% | +11.3% | +22.6% | −4.5 pts | 22% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of EWZ, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.6 times, against +2 stated | ETFIQ |
| Underlying | EWZ | ETFIQ |
| Segment | sector or country, country | ETFIQ |
| Net assets | $351,191 | source, as filed for Jun 30, 2026 |
| Expense ratio | 0.45% | 485BPOS XBRL, May 28, 2026 |
| Launched | Jun 3, 2026 | ETFIQ |
| Underlying volatility over the window | 22% annualized | ETFIQ |

## Questions

### Did BRZX return +2 times EWZ?

Over the window to Sep 11, 2026, EWZ moved +9.8% and BRZX returned +15.7%. 2 times that move is +19.7%, so the fund came out 4.0 points short of it.

### Why does BRZX not return +2 times over a year?

Because it resets daily. BRZX aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x EWZ ETF tracked its stated multiple most closely?

3 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

ETFIQ, BRZX, data as of Sep 11, 2026. https://etfiq.com/funds/BRZX
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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