{
 "ticker": "SHPU",
 "name": "Direxion Daily SHOP Bull 2X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/SHPU",
 "html": "https://etfiq.com/funds/SHPU",
 "markdown": "https://etfiq.com/funds/SHPU.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: SHPU returned +26.7% where its own daily promise gave +29.6%, 3.0 points short.",
 "key_facts": [
  {
   "key": "what_shop_did",
   "label": "What SHOP did",
   "value": "+19.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SHPU, what SHOP did: +19.0%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "+29.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SHPU, what +2 times a day gives: +29.6%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+26.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SHPU, what the fund returned: +26.7%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22123.0 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SHPU, the fund itself cost: \u22123.0 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$9m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "SHPU, net assets: $9m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.09%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-11",
   "sentence": "SHPU, expense ratio: 1.09% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of SHOP, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+1.4 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SHOP",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$9m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.09%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Aug 6, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "62% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221228.9%",
   "SHOP": "\u221214.4%",
   "+2x the move": "\u221228.7%",
   "Difference": "\u22120.1 pts",
   "SHOP moved about": "50%"
  },
  {
   "window": "3 months",
   "Fund": "+26.7%",
   "SHOP": "+19.0%",
   "+2x the move": "+38.0%",
   "Difference": "\u221211.3 pts",
   "SHOP moved about": "62%"
  },
  {
   "window": "6 months",
   "Fund": "\u221214.3%",
   "SHOP": "+4.7%",
   "+2x the move": "+9.5%",
   "Difference": "\u221223.7 pts",
   "SHOP moved about": "62%"
  },
  {
   "window": "1 year",
   "Fund": "\u221250.4%",
   "SHOP": "\u221211.2%",
   "+2x the move": "\u221222.4%",
   "Difference": "\u221228.0 pts",
   "SHOP moved about": "58%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221257.2%",
   "SHOP": "\u221216.9%",
   "+2x the move": "\u221233.7%",
   "Difference": "\u221223.5 pts",
   "SHOP moved about": "56%"
  }
 ],
 "questions": [
  {
   "q": "Did SHPU return +2 times SHOP?",
   "a": "Over the window to Sep 11, 2026, SHOP moved +19.0% and SHPU returned +26.7%. 2 times that move is +38.0%, so the fund came out 11.3 points short of it."
  },
  {
   "q": "Why does SHPU not return +2 times over a year?",
   "a": "Because it resets daily. SHPU 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."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}