# BABU (Direxion Daily BABA Bull 2X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: BABU returned +12.0% where its own daily promise gave +15.1%, 3.0 points short.

## Key facts

- BABU, what BABA did: +9.8%, as of Sep 30, 2026.
- BABU, what 2 times a day gives: +15.1%, as of Sep 30, 2026.
- BABU, what the fund returned: +12.0%, as of Sep 30, 2026.
- BABU, the fund itself cost: −3.0 pts, as of Sep 30, 2026.
- BABU, net assets: $7m (issuer page, as of Sep 30, 2026).
- BABU, expense ratio: 0.97% (485BPOS XBRL, Feb 26, 2026).

## BABU over each window to Sep 30, 2026

| Window | Fund | BABA | +2x the move | Difference | BABA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −12.7% | −5.7% | −11.4% | −1.3 pts | 28% |
| 3 months | +12.0% | +9.8% | +19.5% | −7.5 pts | 43% |
| 6 months | −33.5% | −12.3% | −24.6% | −8.9 pts | 42% |
| Since launch | −63.6% | −33.9% | −67.9% | +4.3 pts | 41% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of BABA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.23 times, against +2 stated | ETFIQ |
| Underlying | BABA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $7m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.97% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Feb 11, 2026 | ETFIQ |
| Underlying volatility over the window | 43% annualized | ETFIQ |

## Questions

### Did BABU return +2 times BABA?

Over the window to Sep 30, 2026, BABA moved +9.8% and BABU returned +12.0%. 2 times that move is +19.5%, so the fund came out 7.5 points short of it.

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

Because it resets daily. BABU 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 BABA ETF tracked its stated multiple most closely?

4 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 figure itself.


## Cite this page

ETFIQ, BABU, data as of Sep 30, 2026. https://etfiq.com/funds/babu
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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