# FPSX (Leverage Shares 2X Long FPS Daily ETF)

Leverage Shares · Leveraged ETFs · data as of Oct 2, 2026

Three months to Oct 2, 2026: FPSX returned −40.8% where its own daily promise gave −37.6%, 3.2 points short.

## Key facts

- FPSX, what FPS did: −13.9%, as of Oct 2, 2026.
- FPSX, what 2 times a day gives: −37.6%, as of Oct 2, 2026.
- FPSX, what the fund returned: −40.8%, as of Oct 2, 2026.
- FPSX, the fund itself cost: −3.2 pts, as of Oct 2, 2026.
- FPSX, net assets: $3m (issuer page, as of Oct 1, 2026).
- FPSX, expense ratio: 0.75% (485BPOS XBRL, May 6, 2026).

## FPSX over each window to Oct 2, 2026

| Window | Fund | FPS | +2x the move | Difference | FPS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +73.9% | +37.1% | +74.3% | −0.4 pts | 89% |
| 3 months | −40.8% | −13.9% | −27.8% | −13.0 pts | 83% |
| Since launch | −64.4% | −32.0% | −63.9% | −0.5 pts | 83% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of FPS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.94 times, against +2 stated | ETFIQ |
| Underlying | FPS | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $3m | issuer page, as of Oct 1, 2026 |
| Expense ratio | 0.75% | 485BPOS XBRL, May 6, 2026 |
| Launched | Jun 23, 2026 | ETFIQ |
| Underlying volatility over the window | 83% annualized | ETFIQ |

## Questions

### Did FPSX return +2 times FPS?

Over the window to Oct 2, 2026, FPS moved −13.9% and FPSX returned −40.8%. 2 times that move is −27.8%, so the fund came out 13.0 points short of it.

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

Because it resets daily. FPSX 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, FPSX, data as of Oct 2, 2026. https://etfiq.com/funds/fpsx
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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