# EVMU (Direxion Daily Ether Bull 2X ETF)

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

Three months to Sep 30, 2026: EVMU returned +148.6% where its own daily promise gave +157.5%, 8.9 points short.

## Key facts

- EVMU, what ETHA did: +65.0%, as of Sep 30, 2026.
- EVMU, what 2 times a day gives: +157.5%, as of Sep 30, 2026.
- EVMU, what the fund returned: +148.6%, as of Sep 30, 2026.
- EVMU, the fund itself cost: −8.9 pts, as of Sep 30, 2026.
- EVMU, net assets: $3m (issuer page, as of Sep 30, 2026).
- EVMU, expense ratio: 1.03% (485BPOS XBRL, Apr 29, 2026).

## EVMU over each window to Sep 30, 2026

| Window | Fund | ETHA | +2x the move | Difference | ETHA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +12.4% | +7.5% | +15.0% | −2.6 pts | 46% |
| 3 months | +148.6% | +65.0% | +130.1% | +18.5 pts | 48% |
| Since launch | +44.4% | +29.9% | +59.9% | −15.4 pts | 55% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of ETHA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.28 times, against +2 stated | ETFIQ |
| Underlying | ETHA | ETFIQ |
| Segment | asset class, crypto | ETFIQ |
| Net assets | $3m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.03% | 485BPOS XBRL, Apr 29, 2026 |
| Launched | May 27, 2026 | ETFIQ |
| Underlying volatility over the window | 48% annualized | ETFIQ |

## Questions

### Did EVMU return +2 times ETHA?

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.

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

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.

### Which +2x ETHA 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, EVMU, data as of Sep 30, 2026. https://etfiq.com/funds/evmu
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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