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XLPU MicroSectors 3x Long Consumer Staples (XLP) ETNs

Aims to return three times the daily move of State Street Consumer Staples Select Sector SPDR ETF (XLP)MicroSectorsan exchange traded note holds no assets; it is the issuing bank’s unsecured debtSince Sep 10, 2026Every MicroSectors fund ETFIQ covers
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Since launch to Sep 30, 2026: XLPU returned −7.5% where its own daily promise gave −7.1%, 0.4 points short.

−2.4%
What XLP did
−7.1%
What 3 times a day gives
−7.5%
What the fund returned
−0.4 pts
The fund itself cost
What it aimed at, and what it did
On its stated multipleXLPU returned −7.5% while 3 times XLP's move would have been −7.1%XLP −2.4% ×3 implies−7.1%XLPU returned−7.5%On its stated multipleXLPU returned −7.5% while 3 times XLP's move would have been −7.1%XLP −2.4% ×3 implies−7.1%XLPU returned−7.5%

Over the since launch to Sep 30, 2026, XLPU returned −7.5%, where 3 times that move implies −7.1%. The difference is −0.5 pts.

WindowFundXLP+3x the moveDifferenceXLP moved about
Since launch Sep 10 – Sep 30, 2026−7.5%−2.4%−7.1%−0.5 pts12%

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

In plain words

Read the multiple against the whole window instead and 3 times XLP's −2.4% implies −7.1%, which makes XLPU look 0.5 points short. 0.1 of that is daily compounding, which happens to any 3 times fund over the same path, and the rest is the fund. XLPU aims to return +3 times XLP's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +3 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. XLP moved at 12% 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+3 times the daily move of XLP, reset daily
Multiple a holder actually got over the window (ETFIQ)XLP moved −2.4% over this window, too little to read a multiple from
UnderlyingXLP
Segmentsector or country, index
Net assetsan exchange traded note holds no assets; it is the issuing bank’s unsecured debt
Expense rationot read by ETFIQ
LaunchedSep 10, 2026
Underlying volatility over the window (ETFIQ)12% annualized
XLPU (MicroSectors 3x Long Consumer Staples (XLP) ETNs), 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 XLPU

Did XLPU return +3 times XLP?
Over the window to Sep 30, 2026, XLP moved −2.4% and XLPU returned −7.5%. 3 times that move is −7.1%, so the fund came out 0.5 points short of it.
Why does XLPU not return +3 times over a year?
Because it resets daily. XLPU 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.
Sources and dates
Prices, XLPU and XLPTiingo end-of-day prices ↗
Fee, not read by ETFIQ
Net assets, an exchange traded note holds no assets; it is the issuing bank’s unsecured debt
IssuerMicroSectors website ↗
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, XLPU, leveraged ETFs, data as of Sep 30, 2026. https://etfiq.com/funds/xlpu

Open XLPU live on ETFIQ

The label bar for XLPU, 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. →
4th of 5 leveraged and inverse ETFs by net assets→MicroSectors: every fund ETFIQ covers→