# XPP (ProShares Ultra FTSE China 50)

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

Three months to Sep 11, 2026: XPP returned −5.4% where its own daily promise gave −3.9%, 1.6 points short.

## Key facts

- XPP, what FXI did: −1.5%, as of Sep 11, 2026.
- XPP, what +2 times a day gives: −3.9%, as of Sep 11, 2026.
- XPP, what the fund returned: −5.4%, as of Sep 11, 2026.
- XPP, the fund itself cost: −1.6 pts, as of Sep 11, 2026.
- XPP, net assets: $8m (issuer page, as of Sep 11, 2026).
- XPP, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## XPP over each window to Sep 11, 2026

| Window | Fund | FXI | +2x the move | Difference | FXI moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −5.2% | −2.1% | −4.2% | −1.0 pts | 15% |
| 3 months | −5.4% | −1.5% | −3.1% | −2.3 pts | 18% |
| 6 months | −12.2% | −4.1% | −8.2% | −4.0 pts | 20% |
| 1 year | −32.7% | −13.8% | −27.5% | −5.2 pts | 20% |
| 3 years | +19.8% | +36.3% | +72.7% | −52.9 pts | 27% |
| Since launch | −68.9% | +18.5% | +37.1% | −106.0 pts | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of FXI, reset daily | ETFIQ |
| Multiple a holder actually got over the window | FXI moved −1.5% over this window, too little to read a multiple from | ETFIQ |
| Underlying | FXI | ETFIQ |
| Segment | sector or country, country | ETFIQ |
| Net assets | $8m | issuer page, as of Sep 11, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 23, 2025 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 18% annualized | ETFIQ |

## Questions

### Did XPP return +2 times FXI?

Over the window to Sep 11, 2026, FXI moved −1.5% and XPP returned −5.4%. 2 times that move is −3.1%, so the fund came out 2.3 points short of it.

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

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

HTML: https://etfiq.com/funds/XPP  ·  JSON: https://etfiq.com/funds/XPP.json