# CWEB (Direxion Daily CSI China Internet Index Bull 2X ETF)

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

Three months to Sep 11, 2026: CWEB returned −16.5% where its own daily promise gave −15.2%, 1.3 points short.

## Key facts

- CWEB, what KWEB did: −7.1%, as of Sep 11, 2026.
- CWEB, what +2 times a day gives: −15.2%, as of Sep 11, 2026.
- CWEB, what the fund returned: −16.5%, as of Sep 11, 2026.
- CWEB, the fund itself cost: −1.3 pts, as of Sep 11, 2026.
- CWEB, net assets: $252m (source, as filed for Apr 30, 2026).
- CWEB, expense ratio: 1.27% (485BPOS XBRL, Feb 26, 2026).

## CWEB over each window to Sep 11, 2026

| Window | Fund | KWEB | +2x the move | Difference | KWEB moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −21.0% | −10.7% | −21.4% | +0.3 pts | 20% |
| 3 months | −16.5% | −7.1% | −14.3% | −2.3 pts | 26% |
| 6 months | −38.1% | −18.4% | −36.9% | −1.2 pts | 29% |
| 1 year | −64.3% | −36.0% | −72.0% | +7.6 pts | 27% |
| 3 years | −43.9% | −1.9% | −3.8% | −40.1 pts | 34% |
| Since launch | −91.0% | −19.0% | −37.9% | −53.1 pts | 40% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of KWEB, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.32 times, against +2 stated | ETFIQ |
| Underlying | KWEB | ETFIQ |
| Segment | sector or country, country | ETFIQ |
| Net assets | $252m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.27% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Nov 2, 2016 | ETFIQ |
| Underlying volatility over the window | 26% annualized | ETFIQ |

## Questions

### Did CWEB return +2 times KWEB?

Over the window to Sep 11, 2026, KWEB moved −7.1% and CWEB returned −16.5%. 2 times that move is −14.3%, so the fund came out 2.2 points short of it.

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

Because it resets daily. CWEB 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 KWEB ETF tracked its stated multiple most closely?

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

HTML: https://etfiq.com/funds/CWEB  ·  JSON: https://etfiq.com/funds/CWEB.json