# UGLD (Direxion Daily Gold Bull 2X ETF)

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

Three months to Sep 30, 2026: UGLD returned +1.6% where its own daily promise gave +4.0%, 2.4 points short.

## Key facts

- UGLD, what GLD did: +2.8%, as of Sep 30, 2026.
- UGLD, what 2 times a day gives: +4.0%, as of Sep 30, 2026.
- UGLD, what the fund returned: +1.6%, as of Sep 30, 2026.
- UGLD, the fund itself cost: −2.4 pts, as of Sep 30, 2026.
- UGLD, net assets: $10m (issuer page, as of Sep 30, 2026).
- UGLD, expense ratio: 1.07% (485BPOS XBRL, Apr 29, 2026).

## UGLD over each window to Sep 30, 2026

| Window | Fund | GLD | +2x the move | Difference | GLD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −14.0% | −6.8% | −13.5% | −0.5 pts | 24% |
| 3 months | +1.6% | +2.8% | +5.5% | −3.9 pts | 25% |
| Since launch | −19.6% | −7.7% | −15.5% | −4.2 pts | 26% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of GLD, reset daily | ETFIQ |
| Multiple a holder actually got over the window | GLD moved +2.8% over this window, too little to read a multiple from | ETFIQ |
| Underlying | GLD | ETFIQ |
| Segment | asset class, metal | ETFIQ |
| Net assets | $10m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.07% | 485BPOS XBRL, Apr 29, 2026 |
| Launched | May 28, 2026 | ETFIQ |
| Underlying volatility over the window | 25% annualized | ETFIQ |

## Questions

### Did UGLD return +2 times GLD?

Over the window to Sep 30, 2026, GLD moved +2.8% and UGLD returned +1.6%. 2 times that move is +5.5%, so the fund came out 3.9 points short of it.

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

Because it resets daily. UGLD 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 GLD 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, UGLD, data as of Sep 30, 2026. https://etfiq.com/funds/ugld
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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