# CBRZ (Tradr 2X Short CBRS Daily ETF)

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

Three months to Sep 30, 2026: CBRZ returned −38.6% where its own daily promise gave −39.1%, 0.5 points over.

## Key facts

- CBRZ, what CBRS did: −19.7%, as of Sep 30, 2026.
- CBRZ, what −2 times a day gives: −39.1%, as of Sep 30, 2026.
- CBRZ, what the fund returned: −38.6%, as of Sep 30, 2026.
- CBRZ, the fund itself added: +0.5 pts, as of Sep 30, 2026.
- CBRZ, net assets: $5m (the issuer’s own daily fund list, as of Sep 30, 2026).
- CBRZ, expense ratio: 1.49% (485BPOS XBRL, May 27, 2026).

## CBRZ over each window to Sep 30, 2026

| Window | Fund | CBRS | -2x the move | Difference | CBRS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −5.8% | −3.6% | +7.2% | −13.0 pts | 72% |
| 3 months | −38.6% | −19.7% | +39.4% | −78.0 pts | 108% |
| Since launch | −60.4% | −25.0% | +50.1% | −110.5 pts | 118% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of CBRS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.96 times, against -2 stated | ETFIQ |
| Underlying | CBRS | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $5m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.49% | 485BPOS XBRL, May 27, 2026 |
| Launched | May 29, 2026 | ETFIQ |
| Underlying volatility over the window | 108% annualized | ETFIQ |

## Questions

### Did CBRZ return -2 times CBRS?

Over the window to Sep 30, 2026, CBRS moved −19.7% and CBRZ returned −38.6%. −2 times that move is +39.4%, so the fund came out 78.0 points short of it.

### Why does CBRZ not return -2 times over a year?

Because it resets daily. CBRZ 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, CBRZ, data as of Sep 30, 2026. https://etfiq.com/funds/cbrz
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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