# XLCD (MicroSectors -3x Short Communication Services (XLC) ETNs)

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

Since launch to Sep 30, 2026: XLCD returned −3.3% where its own daily promise gave −1.5%, 1.8 points short.

## Key facts

- XLCD, what XLC did: −0.2%, as of Sep 30, 2026.
- XLCD, what −3 times a day gives: −1.5%, as of Sep 30, 2026.
- XLCD, what the fund returned: −3.3%, as of Sep 30, 2026.
- XLCD, the fund itself cost: −1.8 pts, as of Sep 30, 2026.
- XLCD, net assets: an exchange traded note holds no assets; it is the issuing bank’s unsecured debt, as of Sep 30, 2026.
- XLCD, expense ratio: not read by ETFIQ, as of Sep 30, 2026.

## XLCD over each window to Sep 30, 2026

| Window | Fund | XLC | -3x the move | Difference | XLC moved about |
| --- | --- | --- | --- | --- | --- |
| Since launch | −3.3% | −0.2% | +0.5% | −3.8 pts | 24% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -3 times the daily move of XLC, reset daily | ETFIQ |
| Multiple a holder actually got over the window | XLC moved −0.2% over this window, too little to read a multiple from | ETFIQ |
| Underlying | XLC | ETFIQ |
| Segment | sector or country, index | ETFIQ |
| Net assets | an exchange traded note holds no assets; it is the issuing bank’s unsecured debt | ETFIQ |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Sep 10, 2026 | ETFIQ |
| Underlying volatility over the window | 24% annualized | ETFIQ |

## Questions

### Did XLCD return -3 times XLC?

Over the window to Sep 30, 2026, XLC moved −0.2% and XLCD returned −3.3%. −3 times that move is +0.5%, so the fund came out 3.8 points short of it.

### Why does XLCD not return -3 times over a year?

Because it resets daily. XLCD aims at -3 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 -3 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.


## Cite this page

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

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