{
 "ticker": "SPYQ",
 "name": "Tradr 2X Long SPY Quarterly ETF",
 "issuer": "Tradr",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/spyq",
 "html": "https://etfiq.com/funds/spyq",
 "markdown": "https://etfiq.com/funds/spyq.md",
 "as_of": "2026-10-22",
 "verdict": "Over the three months to Oct 22, 2026, SPYQ returned 5.5%, against 7.3% for twice SPY's daily moves.",
 "promise": {
  "badge": "delivered",
  "label": "Delivered",
  "category": "leverage",
  "sentence": "Over three months to Oct 22, 2026, SPYQ finished 1.8 points behind twice SPY's daily moves, compounded.",
  "figure": -1.8,
  "unit": "points",
  "from": "2026-07-23",
  "to": "2026-10-22",
  "url": "https://etfiq.com/promise-index/leverage/"
 },
 "key_facts": [
  {
   "key": "what_spy_did",
   "label": "What SPY did",
   "value": "+3.7%",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-10-22",
   "sentence": "SPYQ, what SPY did: +3.7%, as of Oct 22, 2026.",
   "cite": {
    "value": "+3.7%",
    "as_of": "2026-10-22",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/spyq#fact-what-spy-did",
    "text": "SPYQ, what SPY did: +3.7%, as of Oct 22, 2026."
   }
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "+7.3%",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-10-22",
   "sentence": "SPYQ, what 2 times a day gives: +7.3%, as of Oct 22, 2026.",
   "cite": {
    "value": "+7.3%",
    "as_of": "2026-10-22",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/spyq#fact-what-2-times-a-day-gives",
    "text": "SPYQ, what 2 times a day gives: +7.3%, as of Oct 22, 2026."
   }
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+5.5%",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-10-22",
   "sentence": "SPYQ, what the fund returned: +5.5%, as of Oct 22, 2026.",
   "cite": {
    "value": "+5.5%",
    "as_of": "2026-10-22",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/spyq#fact-what-the-fund-returned",
    "text": "SPYQ, what the fund returned: +5.5%, as of Oct 22, 2026."
   }
  },
  {
   "key": "gap_to_2_times_a_day",
   "label": "Gap to 2 times a day",
   "value": "\u22121.8 pts",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-10-22",
   "sentence": "SPYQ, gap to 2 times a day: \u22121.8 pts, as of Oct 22, 2026.",
   "cite": {
    "value": "\u22121.8 pts",
    "as_of": "2026-10-22",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/spyq#fact-gap-to-2-times-a-day",
    "text": "SPYQ, gap to 2 times a day: \u22121.8 pts, as of Oct 22, 2026."
   }
  },
  {
   "key": "12_month_yield_capital_gains_included_on_its_starting_price",
   "label": "12-month yield, capital gains included, on its starting price",
   "value": "0.2%",
   "source": "computed by ETFIQ from Tiingo daily prices and distributions",
   "as_of": "2026-10-22",
   "sentence": "SPYQ, 12-month yield, capital gains included, on its starting price: 0.2%, as of Oct 22, 2026.",
   "cite": {
    "value": "0.2%",
    "as_of": "2026-10-22",
    "source": "computed by ETFIQ from Tiingo daily prices and distributions",
    "url": "https://etfiq.com/funds/spyq#fact-12-month-yield-capital-gains-included-on-its-starting-price",
    "text": "SPYQ, 12-month yield, capital gains included, on its starting price: 0.2%, as of Oct 22, 2026."
   }
  },
  {
   "key": "last_payment_ex_date_dec_23_2025",
   "label": "Last payment, ex-date Dec 23, 2025",
   "value": "$0.2711",
   "source": "Tiingo end-of-day distributions",
   "as_of": "2025-12-23",
   "sentence": "SPYQ, last payment, ex-date Dec 23, 2025: $0.2711, as of Dec 23, 2025.",
   "cite": {
    "value": "$0.2711",
    "as_of": "2025-12-23",
    "source": "Tiingo end-of-day distributions",
    "url": "https://etfiq.com/funds/spyq#fact-last-payment-ex-date-dec-23-2025",
    "text": "SPYQ, last payment, ex-date Dec 23, 2025: $0.2711, as of Dec 23, 2025."
   }
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$13m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 22, 2026",
   "as_of": "2026-10-22",
   "sentence": "SPYQ, net assets: $13m (the issuer\u2019s own daily fund list, as of Oct 22, 2026).",
   "cite": {
    "value": "$13m",
    "as_of": "2026-10-22",
    "source": "the issuer\u2019s own daily fund list, as of Oct 22, 2026",
    "url": "https://etfiq.com/funds/spyq#fact-net-assets",
    "text": "SPYQ, net assets: $13m (the issuer\u2019s own daily fund list, as of Oct 22, 2026)."
   }
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.00%",
   "source": "497 XBRL, Aug 5, 2026",
   "as_of": "2026-08-05",
   "sentence": "SPYQ, expense ratio: 1.00% (497 XBRL, Aug 5, 2026).",
   "cite": {
    "value": "1.00%",
    "as_of": "2026-08-05",
    "source": "497 XBRL, Aug 5, 2026",
    "url": "https://etfiq.com/funds/spyq#fact-expense-ratio",
    "text": "SPYQ, expense ratio: 1.00% (497 XBRL, Aug 5, 2026)."
   }
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of the S&P 500, measured through SPY, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "SPY moved +3.7% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SPY",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, index",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$13m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 22, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.00%",
   "source": "497 XBRL, Aug 5, 2026"
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "Oct 1, 2024",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "11% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Total return": "\u22122.9%",
   "SPY": "\u22121.2%",
   "+2x the move": "\u22122.4%",
   "Difference": "\u22120.5 pts",
   "SPY moved about, annualized": "9%"
  },
  {
   "window": "3 months",
   "Total return": "+5.5%",
   "SPY": "+3.7%",
   "+2x the move": "+7.4%",
   "Difference": "\u22121.9 pts",
   "SPY moved about, annualized": "11%"
  },
  {
   "window": "6 months",
   "Total return": "+12.3%",
   "SPY": "+8.4%",
   "+2x the move": "+16.8%",
   "Difference": "\u22124.5 pts",
   "SPY moved about, annualized": "12%"
  },
  {
   "window": "Year to date",
   "Total return": "+18.4%",
   "SPY": "+12.9%",
   "+2x the move": "+25.8%",
   "Difference": "\u22127.4 pts",
   "SPY moved about, annualized": "13%"
  },
  {
   "window": "1 year",
   "Total return": "+22.5%",
   "SPY": "+15.6%",
   "+2x the move": "+31.2%",
   "Difference": "\u22128.7 pts",
   "SPY moved about, annualized": "13%"
  },
  {
   "window": "Since launch",
   "Total return": "+56.5%",
   "SPY": "+37.4%",
   "+2x the move": "+74.8%",
   "Difference": "\u221218.3 pts",
   "SPY moved about, annualized": "16%"
  },
  {
   "window": "Since launch, annualised",
   "Total return": "+24.3%",
   "SPY": "\u2013",
   "+2x the move": "\u2013",
   "Difference": "\u2013",
   "SPY moved about, annualized": "\u2013"
  }
 ],
 "questions": [
  {
   "q": "Did SPYQ return +2 times SPY?",
   "a": "Over the three months to Oct 22, 2026, SPY moved +3.7% and SPYQ returned +5.5%. 2 times that move is +7.4%, so the fund came out 1.9 points short of it. That is not its objective, which is daily. Against 2 times each day's move, compounded, it was 1.8 points short."
  },
  {
   "q": "Why does SPYQ not return +2 times over a year?",
   "a": "Because it resets daily. SPYQ aims at +2 times each day's move, and daily results compound. If the underlying falls and recovers, a holder ends up behind +2 times the period move; in a steady run in one direction, possibly ahead. The longer the holding and the more the underlying swings, the wider the gap."
  },
  {
   "q": "Which +2x SPY ETF came closest to its daily multiple?",
   "a": "3 issuers sell one. The table on this page ranks them by how far each finished from 2 times the underlying's move, over the days all of them have traded."
  }
 ],
 "key_stats": [
  {
   "key": "high52",
   "label": "52-week high, daily closes to Oct 22, 2026",
   "value": "$200.28 on Aug 13, 2026",
   "as_of": "2026-08-13",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 200.2762,
   "window": {
    "from": "2025-10-23",
    "to": "2026-10-22"
   }
  },
  {
   "key": "low52",
   "label": "52-week low, daily closes to Oct 22, 2026",
   "value": "$136.45 on Mar 30, 2026",
   "as_of": "2026-03-30",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 136.4495,
   "window": {
    "from": "2025-10-23",
    "to": "2026-10-22"
   }
  },
  {
   "key": "inrange",
   "label": "Close on Oct 22, 2026, within that range",
   "value": "$191.64, 86% of the way from the low to the high",
   "as_of": "2026-10-22",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 191.6429
  },
  {
   "key": "beta",
   "label": "Beta to its underlying, 1 year",
   "value": "1.96, against SPY",
   "as_of": "2026-10-22",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 1.958,
   "window": {
    "from": "2025-10-23",
    "to": "2026-10-22"
   }
  },
  {
   "key": "r2",
   "label": "R-squared, the same days",
   "value": "0.98",
   "as_of": "2026-10-22",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 0.9834,
   "window": {
    "from": "2025-10-23",
    "to": "2026-10-22"
   }
  },
  {
   "key": "betawin",
   "label": "Beta and R-squared measured over",
   "value": "251 daily total returns, Oct 23, 2025 to Oct 22, 2026",
   "as_of": "2026-10-22",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "window": {
    "from": "2025-10-23",
    "to": "2026-10-22"
   }
  }
 ],
 "trading": {
  "as_of": "2026-10-22",
  "score": null,
  "tier": null,
  "status": "not-scored",
  "lines": [
   "Not scored."
  ],
  "page": null
 },
 "flows": {
  "as_of": "2026-06-30",
  "coverage": "monthly",
  "computed_by": "ETFIQ, from the change in shares outstanding times the previous day\u2019s NAV",
  "method": "https://etfiq.com/methodology/flows",
  "data": "https://etfiq.com/data/flows/funds/spyq.json",
  "windows": [],
  "latest_month": {
   "month": "2026-06",
   "net_flow_usd": -71383263,
   "net_flow": "\u2212$71.4m",
   "source": "SEC Form N-PORT"
  }
 },
 "generated": "2026-10-23",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, SPYQ, leveraged ETFs, data as of Oct 22, 2026. https://etfiq.com/funds/spyq"
}