# PENU (T-REX 2X LONG PENG DAILY TARGET ETF)

T-REX · Leveraged ETFs · data as of Sep 11, 2026

One month to Sep 11, 2026: PENU returned −32.1% where its own daily promise gave −27.0%, 5.0 points short.

## Key facts

- PENU, what PENG did: −12.9%, as of Sep 11, 2026.
- PENU, what +2 times a day gives: −27.0%, as of Sep 11, 2026.
- PENU, what the fund returned: −32.1%, as of Sep 11, 2026.
- PENU, the fund itself cost: −5.0 pts, as of Sep 11, 2026.
- PENU, expense ratio: 1.50% (485BPOS XBRL, Jul 22, 2026).
- PENU, underlying: PENG, as of Sep 11, 2026.

## PENU over each window to Sep 11, 2026

| Window | Fund | PENG | +2x the move | Difference | PENG moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −32.1% | −12.9% | −25.8% | −6.3 pts | 65% |
| Since launch | −27.5% | −9.1% | −18.1% | −9.3 pts | 66% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of PENG, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.49 times, against +2 stated | ETFIQ |
| Underlying | PENG | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Expense ratio | 1.50% | 485BPOS XBRL, Jul 22, 2026 |
| Launched | Aug 6, 2026 | ETFIQ |
| Underlying volatility over the window | 65% annualized | ETFIQ |

## Questions

### Did PENU return +2 times PENG?

Over the window to Sep 11, 2026, PENG moved −12.9% and PENU returned −32.1%. 2 times that move is −25.8%, so the fund came out 6.3 points short of it.

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

Because it resets daily. PENU 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.


## Cite this page

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

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