# SPUU (Direxion Daily S&P 500(R) Bull 2X ETF)

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

Three months to Sep 30, 2026: SPUU returned +3.4% where its own daily promise gave +4.8%, 1.4 points short.

## Key facts

- SPUU, what SPY did: +2.5%, as of Sep 30, 2026.
- SPUU, what 2 times a day gives: +4.8%, as of Sep 30, 2026.
- SPUU, what the fund returned: +3.4%, as of Sep 30, 2026.
- SPUU, the fund itself cost: −1.4 pts, as of Sep 30, 2026.
- SPUU, net assets: $284m (issuer page, as of Sep 30, 2026).
- SPUU, expense ratio: 0.60% (485BPOS XBRL, Feb 26, 2026).

## SPUU over each window to Sep 30, 2026

| Window | Fund | SPY | +2x the move | Difference | SPY moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −1.4% | −0.3% | −0.7% | −0.7 pts | 10% |
| 3 months | +3.4% | +2.5% | +5.0% | −1.7 pts | 11% |
| 6 months | +32.5% | +17.0% | +34.0% | −1.5 pts | 12% |
| 1 year | +25.1% | +15.7% | +31.4% | −6.3 pts | 13% |
| 3 years | +169.7% | +85.0% | +170.0% | −0.2 pts | 15% |
| Since launch | +985.1% | +381.3% | not meaningful over this window | not meaningful over this window | 17% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of SPY, reset daily | ETFIQ |
| Multiple a holder actually got over the window | SPY moved +2.5% over this window, too little to read a multiple from | ETFIQ |
| Underlying | SPY | ETFIQ |
| Segment | broad index, US large cap | ETFIQ |
| Net assets | $284m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.60% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jun 6, 2014 | ETFIQ |
| Underlying volatility over the window | 11% annualized | ETFIQ |

## Questions

### Did SPUU return +2 times SPY?

Over the window to Sep 30, 2026, SPY moved +2.5% and SPUU returned +3.4%. 2 times that move is +5.0%, so the fund came out 1.7 points short of it.

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

Because it resets daily. SPUU 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 SPY ETF tracked its stated multiple most closely?

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

HTML: https://etfiq.com/funds/spuu  ·  JSON: https://etfiq.com/funds/spuu.json