# EVMU (Direxion Daily Ether Bull 2X ETF)

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

Three months to Sep 11, 2026: EVMU returned +110.6% where its own daily promise gave +118.5%, 7.9 points short.

## Key facts

- EVMU, what ETHA did: +52.4%, as of Sep 11, 2026.
- EVMU, what +2 times a day gives: +118.5%, as of Sep 11, 2026.
- EVMU, what the fund returned: +110.6%, as of Sep 11, 2026.
- EVMU, the fund itself cost: −7.9 pts, as of Sep 11, 2026.
- EVMU, expense ratio: 1.03% (485BPOS XBRL, Apr 29, 2026).
- EVMU, underlying: ETHA, as of Sep 11, 2026.

## EVMU over each window to Sep 11, 2026

| Window | Fund | ETHA | +2x the move | Difference | ETHA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +76.2% | +35.3% | +70.6% | +5.6 pts | 55% |
| 3 months | +110.6% | +52.4% | +104.9% | +5.7 pts | 51% |
| Since launch | +33.3% | +23.7% | +47.5% | −14.2 pts | 56% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of ETHA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.11 times, against +2 stated | ETFIQ |
| Underlying | ETHA | ETFIQ |
| Segment | asset class, crypto | ETFIQ |
| Expense ratio | 1.03% | 485BPOS XBRL, Apr 29, 2026 |
| Launched | May 27, 2026 | ETFIQ |
| Underlying volatility over the window | 51% annualized | ETFIQ |

## Questions

### Did EVMU return +2 times ETHA?

Over the window to Sep 11, 2026, ETHA moved +52.4% and EVMU returned +110.6%. 2 times that move is +104.9%, so the fund came out 5.7 points ahead of it.

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

Because it resets daily. EVMU 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 ETHA ETF tracked its stated multiple most closely?

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

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