{
 "ticker": "SPUU",
 "name": "Direxion Daily S&P 500(R) Bull 2X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/SPUU",
 "html": "https://etfiq.com/funds/SPUU",
 "markdown": "https://etfiq.com/funds/SPUU.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: SPUU returned +5.0% where its own daily promise gave +6.3%, 1.4 points short.",
 "key_facts": [
  {
   "key": "what_spy_did",
   "label": "What SPY did",
   "value": "+3.3%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPUU, what SPY did: +3.3%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "+6.3%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPUU, what +2 times a day gives: +6.3%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+5.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPUU, what the fund returned: +5.0%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.4 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPUU, the fund itself cost: \u22121.4 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$228m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "SPUU, net assets: $228m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.60%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-11",
   "sentence": "SPUU, expense ratio: 0.60% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of SPY, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "SPY moved +3.3% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SPY",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "broad index, us large cap",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$228m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.60%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jun 6, 2014",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "12% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u22122.6%",
   "SPY": "\u22121.1%",
   "+2x the move": "\u22122.1%",
   "Difference": "\u22120.4 pts",
   "SPY moved about": "9%"
  },
  {
   "window": "3 months",
   "Fund": "+5.0%",
   "SPY": "+3.3%",
   "+2x the move": "+6.6%",
   "Difference": "\u22121.6 pts",
   "SPY moved about": "12%"
  },
  {
   "window": "6 months",
   "Fund": "+30.1%",
   "SPY": "+16.0%",
   "+2x the move": "+32.0%",
   "Difference": "\u22121.9 pts",
   "SPY moved about": "14%"
  },
  {
   "window": "1 year",
   "Fund": "+29.0%",
   "SPY": "+17.5%",
   "+2x the move": "+35.0%",
   "Difference": "\u22126.0 pts",
   "SPY moved about": "13%"
  },
  {
   "window": "3 years",
   "Fund": "+148.9%",
   "SPY": "+77.9%",
   "+2x the move": "+155.8%",
   "Difference": "\u22126.8 pts",
   "SPY moved about": "15%"
  },
  {
   "window": "Since launch",
   "Fund": "+988.5%",
   "SPY": "+381.1%",
   "+2x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "SPY moved about": "17%"
  }
 ],
 "questions": [
  {
   "q": "Did SPUU return +2 times SPY?",
   "a": "Over the window to Sep 11, 2026, SPY moved +3.3% and SPUU returned +5.0%. 2 times that move is +6.6%, so the fund came out 1.6 points short of it."
  },
  {
   "q": "Why does SPUU not return +2 times over a year?",
   "a": "Because it resets daily. SPUU 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 SPY 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)."
}