ETFIQ
RankingsCompareHoldingsResearch
My portfolioWeekly note

UMCU Tradr 2X Long UMC Daily ETF

Aims to return twice the daily move of United Microelectronics (UMC)Tradr1.49% fee$201,604Since Aug 11, 2026SEC filings ↗Every Tradr fund ETFIQ covers
Share on XDownload as PDFCompareAdd to portfolioAlerts

One month to Sep 30, 2026: UMCU returned +45.7% where its own daily promise gave +48.3%, 2.6 points short.

+23.2%
What UMC did
+48.3%
What 2 times a day gives
+45.7%
What the fund returned
−2.6 pts
The fund itself cost
What it aimed at, and what it did
0.7 pts short of its stated multipleUMCU returned +45.7% while 2 times UMC's move would have been +46.4%UMC +23.2% ×2 implies+46.4%UMCU returned+45.7%0.7 pts short of its stated multipleUMCU returned +45.7% while 2 times UMC's move would have been +46.4%UMC +23.2% ×2 implies+46.4%UMCU returned+45.7%

Over the 1 month to Sep 30, 2026, UMCU returned +45.7%, where 2 times that move implies +46.4%. The difference is −0.7 pts.

On its stated multipleUMCU returned +59.0% while 2 times UMC's move would have been +58.6%UMC +29.3% ×2 implies+58.6%UMCU returned+59.0%On its stated multipleUMCU returned +59.0% while 2 times UMC's move would have been +58.6%UMC +29.3% ×2 implies+58.6%UMCU returned+59.0%

Over the since launch to Sep 30, 2026, UMCU returned +59.0%, where 2 times that move implies +58.6%. The difference is +0.3 pts.

WindowFundUMC+2x the moveDifferenceUMC moved about
1M Aug 31 – Sep 30, 2026+45.7%+23.2%+46.4%−0.7 pts52%
Since launch Aug 11 – Sep 30, 2026+59.0%+29.3%+58.6%+0.3 pts48%

UMCU over each window to Sep 30, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.

The same trade from 2 issuers · One week

Every fund that sets out to return +2 times UMC, over the days all of them have been trading. Ranked by how close each came to its own stated multiple.

FundIssuerReturned+2x the moveDifference
UMCXCorgi−1.5%−1.5%0.0 pts
UMCUTradr−1.9%−1.5%−0.4 pts
The same trade from 2 issuers · One month
FundIssuerReturned+2x the moveDifference
UMCXCorgi+46.9%+46.4%+0.5 pts
UMCUTradr+45.7%+46.4%−0.7 pts

UMC funds at +2x, to Sep 30, 2026. Source: ETFIQ.

Head to head
UMCU vs UMCX
Other funds on UMC
UMCX · Corgi

In plain words

Read the multiple against the whole window instead and 2 times UMC's 23.2% implies +46.4%, which makes UMCU look 0.7 points short. 1.9 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. UMCU aims to return +2 times UMC's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. UMC moved at 52% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
Sets out to return+2 times the daily move of UMC, reset daily
Multiple a holder actually got over the window (ETFIQ)+1.97 times, against +2 stated
UnderlyingUMC
Segmentsingle stock, company
Net assets (the issuer’s own daily fund list, as of Sep 30, 2026)$201,604
Expense ratio (485BPOS XBRL, Jul 31, 2026)1.49%
LaunchedAug 11, 2026
Underlying volatility over the window (ETFIQ)52% annualized
UMCU (Tradr 2X Long UMC Daily ETF), leveraged ETFs fields as of Sep 30, 2026. Source: ETFIQ.
Returns are ETFIQ calculations from Tiingo end-of-day prices, distributions reinvested, measured against the underlying over exactly the same days. How these figures are computed

Questions people ask about UMCU

Did UMCU return +2 times UMC?
Over the window to Sep 30, 2026, UMC moved +23.2% and UMCU returned +45.7%. 2 times that move is +46.4%, so the fund came out 0.7 points short of it.
Why does UMCU not return +2 times over a year?
Because it resets daily. UMCU 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 UMC 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.
Sources and dates
Prices, UMCU and UMCTiingo end-of-day prices ↗
Fee, 1.49%SEC 485BPOS XBRL · Jul 31, 2026
Net assets, $201,604The issuer’s own daily fund list · Sep 30, 2026
IssuerTradr website ↗
All fund filingsFund filings on SEC EDGAR ↗
SourceSEC investment company series and class file, which lists every registered fund ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

How these figures are computed →Standards and sources →Open data →
Cite this page

ETFIQ, UMCU, leveraged ETFs, data as of Sep 30, 2026. https://etfiq.com/funds/umcu

Open UMCU live on ETFIQ

The label bar for UMCU, redrawn every trading night. Free to use with the credit link.

Free to use with attribution; the underlying files are at Open data.

Stated multiple
What the fund sets out to return against its underlying, each day. A fund at 2x aims to return twice the underlying’s daily move, and an inverse fund at -2x aims to return twice it in the opposite direction.
Daily reset
The fund starts each day aiming at the multiple again, from wherever it now stands. It is the mechanism that makes these funds behave as they do, and the reason the stated multiple applies to a day rather than to a holding period.
Compounding
Daily results multiply together rather than adding up. Two days of the multiple is not twice the multiple, and over a run of days the difference between the two grows with how far the underlying moves about.
Decay
What compounding costs a holder when the underlying falls and rises back to where it started. The underlying is level and the fund is down; the more violently it moved, the further down.
Difference against the stated multiple
The fund’s return minus the stated multiple times the underlying’s return, in percentage points. The one figure that says whether a holder got what the fund’s own multiple describes.
Every term used here, defined in full on the leveraged ETFs vocabulary page. →
Tradr: every fund ETFIQ covers→