{
 "ticker": "PYPU",
 "name": "Direxion Daily PYPL Bull 2X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/PYPU",
 "html": "https://etfiq.com/funds/PYPU",
 "markdown": "https://etfiq.com/funds/PYPU.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: PYPU returned +52.7% where its own daily promise gave +57.5%, 4.8 points short.",
 "key_facts": [
  {
   "key": "what_pypl_did",
   "label": "What PYPL did",
   "value": "+29.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PYPU, what PYPL did: +29.7%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "+57.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PYPU, what +2 times a day gives: +57.5%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+52.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PYPU, what the fund returned: +52.7%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22124.8 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PYPU, the fund itself cost: \u22124.8 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "PYPU, net assets: $3m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.97%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-11",
   "sentence": "PYPU, expense ratio: 0.97% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of PYPL, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+1.78 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "PYPL",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.97%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Mar 25, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "52% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221220.7%",
   "PYPL": "\u22129.0%",
   "+2x the move": "\u221218.1%",
   "Difference": "\u22122.6 pts",
   "PYPL moved about": "54%"
  },
  {
   "window": "3 months",
   "Fund": "+52.7%",
   "PYPL": "+29.7%",
   "+2x the move": "+59.4%",
   "Difference": "\u22126.7 pts",
   "PYPL moved about": "52%"
  },
  {
   "window": "Since launch",
   "Fund": "+25.2%",
   "PYPL": "+20.5%",
   "+2x the move": "+41.0%",
   "Difference": "\u221215.8 pts",
   "PYPL moved about": "44%"
  }
 ],
 "questions": [
  {
   "q": "Did PYPU return +2 times PYPL?",
   "a": "Over the window to Sep 11, 2026, PYPL moved +29.7% and PYPU returned +52.7%. 2 times that move is +59.4%, so the fund came out 6.7 points short of it."
  },
  {
   "q": "Why does PYPU not return +2 times over a year?",
   "a": "Because it resets daily. PYPU 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."
  },
  {
   "q": "Which +2x PYPL ETF tracked its stated multiple most closely?",
   "a": "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."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}