{
 "ticker": "SHPU",
 "name": "Direxion Daily SHOP Bull 2X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/shpu",
 "html": "https://etfiq.com/funds/shpu",
 "markdown": "https://etfiq.com/funds/shpu.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: SHPU returned +43.1% where its own daily promise gave +47.0%, 3.9 points short.",
 "key_facts": [
  {
   "key": "what_shop_did",
   "label": "What SHOP did",
   "value": "+26.7%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "SHPU, what SHOP did: +26.7%, as of Oct 2, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "+47.0%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "SHPU, what 2 times a day gives: +47.0%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+43.1%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "SHPU, what the fund returned: +43.1%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22123.9 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "SHPU, the fund itself cost: \u22123.9 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$12m",
   "source": "issuer page, as of Oct 1, 2026",
   "as_of": "2026-10-02",
   "sentence": "SHPU, net assets: $12m (issuer page, as of Oct 1, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.09%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-10-02",
   "sentence": "SHPU, expense ratio: 1.09% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of SHOP, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+1.61 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SHOP",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$12m",
   "source": "issuer page, as of Oct 1, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.09%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Aug 6, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "62% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+9.8%",
   "SHOP": "+6.7%",
   "+2x the move": "+13.4%",
   "Difference": "\u22123.6 pts",
   "SHOP moved about": "56%"
  },
  {
   "window": "3 months",
   "Fund": "+43.1%",
   "SHOP": "+26.7%",
   "+2x the move": "+53.5%",
   "Difference": "\u221210.4 pts",
   "SHOP moved about": "62%"
  },
  {
   "window": "6 months",
   "Fund": "+27.7%",
   "SHOP": "+28.0%",
   "+2x the move": "+56.1%",
   "Difference": "\u221228.4 pts",
   "SHOP moved about": "63%"
  },
  {
   "window": "1 year",
   "Fund": "\u221237.2%",
   "SHOP": "+0.1%",
   "+2x the move": "+0.1%",
   "Difference": "\u221237.3 pts",
   "SHOP moved about": "59%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221242.2%",
   "SHOP": "\u22122.3%",
   "+2x the move": "\u22124.5%",
   "Difference": "\u221237.6 pts",
   "SHOP moved about": "56%"
  }
 ],
 "questions": [
  {
   "q": "Did SHPU return +2 times SHOP?",
   "a": "Over the window to Oct 2, 2026, SHOP moved +26.7% and SHPU returned +43.1%. 2 times that move is +53.5%, so the fund came out 10.4 points short of it."
  },
  {
   "q": "Why does SHPU not return +2 times over a year?",
   "a": "Because it resets daily. SHPU 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."
  }
 ],
 "generated": "2026-10-03",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}