# PYPU (Direxion Daily PYPL Bull 2X ETF)

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

Three months to Sep 11, 2026: PYPU returned +52.7% where its own daily promise gave +57.5%, 4.8 points short.

## Key facts

- PYPU, what PYPL did: +29.7%, as of Sep 11, 2026.
- PYPU, what +2 times a day gives: +57.5%, as of Sep 11, 2026.
- PYPU, what the fund returned: +52.7%, as of Sep 11, 2026.
- PYPU, the fund itself cost: −4.8 pts, as of Sep 11, 2026.
- PYPU, net assets: $3m (source, as filed for Apr 30, 2026).
- PYPU, expense ratio: 0.97% (485BPOS XBRL, Feb 26, 2026).

## PYPU over each window to Sep 11, 2026

| Window | Fund | PYPL | +2x the move | Difference | PYPL moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −20.7% | −9.0% | −18.1% | −2.6 pts | 54% |
| 3 months | +52.7% | +29.7% | +59.4% | −6.7 pts | 52% |
| Since launch | +25.2% | +20.5% | +41.0% | −15.8 pts | 44% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of PYPL, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.78 times, against +2 stated | ETFIQ |
| Underlying | PYPL | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $3m | source, as filed for Apr 30, 2026 |
| Expense ratio | 0.97% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Mar 25, 2026 | ETFIQ |
| Underlying volatility over the window | 52% annualized | ETFIQ |

## Questions

### Did PYPU return +2 times PYPL?

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.

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

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.

### Which +2x PYPL 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, PYPU, data as of Sep 11, 2026. https://etfiq.com/funds/PYPU
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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