# USMX (Corgi U.S. Mid-Cap 2x Daily ETF)

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

Since launch to Sep 11, 2026: USMX returned −5.9% where its own daily promise gave −4.9%, 0.9 points short.

## Key facts

- USMX, what VO did: −2.5%, as of Sep 11, 2026.
- USMX, what +2 times a day gives: −4.9%, as of Sep 11, 2026.
- USMX, what the fund returned: −5.9%, as of Sep 11, 2026.
- USMX, the fund itself cost: −0.9 pts, as of Sep 11, 2026.
- USMX, expense ratio: 0.45% (485BPOS XBRL, May 28, 2026).
- USMX, underlying: VO, as of Sep 11, 2026.

## USMX over each window to Sep 11, 2026

| Window | Fund | VO | +2x the move | Difference | VO moved about |
| --- | --- | --- | --- | --- | --- |
| Since launch | −5.9% | −2.5% | −4.9% | −0.9 pts | 10% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of VO, reset daily | ETFIQ |
| Multiple a holder actually got over the window | VO moved −2.5% over this window, too little to read a multiple from | ETFIQ |
| Underlying | VO | ETFIQ |
| Segment | sector or country, index | ETFIQ |
| Expense ratio | 0.45% | 485BPOS XBRL, May 28, 2026 |
| Launched | Aug 19, 2026 | ETFIQ |
| Underlying volatility over the window | 10% annualized | ETFIQ |

## Questions

### Did USMX return +2 times VO?

Over the window to Sep 11, 2026, VO moved −2.5% and USMX returned −5.9%. 2 times that move is −4.9%, so the fund came out 0.9 points short of it.

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

Because it resets daily. USMX 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, USMX, data as of Sep 11, 2026. https://etfiq.com/funds/USMX
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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