{
 "ticker": "EVMU",
 "name": "Direxion Daily Ether Bull 2X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/evmu",
 "html": "https://etfiq.com/funds/evmu",
 "markdown": "https://etfiq.com/funds/evmu.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: EVMU returned +148.6% where its own daily promise gave +157.5%, 8.9 points short.",
 "key_facts": [
  {
   "key": "what_etha_did",
   "label": "What ETHA did",
   "value": "+65.0%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "EVMU, what ETHA did: +65.0%, as of Sep 30, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "+157.5%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "EVMU, what 2 times a day gives: +157.5%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+148.6%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "EVMU, what the fund returned: +148.6%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22128.9 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "EVMU, the fund itself cost: \u22128.9 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "issuer page, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "EVMU, net assets: $3m (issuer page, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.03%",
   "source": "485BPOS XBRL, Apr 29, 2026",
   "as_of": "2026-09-30",
   "sentence": "EVMU, expense ratio: 1.03% (485BPOS XBRL, Apr 29, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of ETHA, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.28 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "ETHA",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "asset class, crypto",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "issuer page, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.03%",
   "source": "485BPOS XBRL, Apr 29, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "May 27, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "48% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+12.4%",
   "ETHA": "+7.5%",
   "+2x the move": "+15.0%",
   "Difference": "\u22122.6 pts",
   "ETHA moved about": "46%"
  },
  {
   "window": "3 months",
   "Fund": "+148.6%",
   "ETHA": "+65.0%",
   "+2x the move": "+130.1%",
   "Difference": "+18.5 pts",
   "ETHA moved about": "48%"
  },
  {
   "window": "Since launch",
   "Fund": "+44.4%",
   "ETHA": "+29.9%",
   "+2x the move": "+59.9%",
   "Difference": "\u221215.4 pts",
   "ETHA moved about": "55%"
  }
 ],
 "questions": [
  {
   "q": "Did EVMU return +2 times ETHA?",
   "a": "Over the window to Sep 30, 2026, ETHA moved +65.0% and EVMU returned +148.6%. 2 times that move is +130.1%, so the fund came out 18.5 points ahead of it."
  },
  {
   "q": "Why does EVMU not return +2 times over a year?",
   "a": "Because it resets daily. EVMU 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 ETHA ETF tracked its stated multiple most closely?",
   "a": "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."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}