# SPCF (ProShares Ultra SpaceX)

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

Three months to Sep 30, 2026: SPCF returned −22.6% where its own daily promise gave −18.6%, 4.0 points short.

## Key facts

- SPCF, what SPCX did: −4.2%, as of Sep 30, 2026.
- SPCF, what 2 times a day gives: −18.6%, as of Sep 30, 2026.
- SPCF, what the fund returned: −22.6%, as of Sep 30, 2026.
- SPCF, the fund itself cost: −4.0 pts, as of Sep 30, 2026.
- SPCF, net assets: $94m (issuer page, as of Sep 30, 2026).
- SPCF, expense ratio: 0.95% (485BPOS XBRL, Jun 8, 2026).

## SPCF over each window to Sep 30, 2026

| Window | Fund | SPCX | +2x the move | Difference | SPCX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +7.1% | +5.0% | +10.0% | −2.9 pts | 44% |
| 3 months | −22.6% | −4.2% | −8.5% | −14.1 pts | 70% |
| Since launch | −51.7% | −21.6% | −43.3% | −8.5 pts | 75% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of SPCX, reset daily | ETFIQ |
| Multiple a holder actually got over the window | SPCX moved −4.2% over this window, too little to read a multiple from | ETFIQ |
| Underlying | SPCX | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $94m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Jun 8, 2026 |
| Launched | Jun 15, 2026 | ETFIQ |
| Underlying volatility over the window | 70% annualized | ETFIQ |

## Questions

### Did SPCF return +2 times SPCX?

Over the window to Sep 30, 2026, SPCX moved −4.2% and SPCF returned −22.6%. 2 times that move is −8.5%, so the fund came out 14.1 points short of it.

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

Because it resets daily. SPCF 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 SPCX ETF tracked its stated multiple most closely?

7 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, SPCF, data as of Sep 30, 2026. https://etfiq.com/funds/spcf
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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