# XPAV (Corgi U.S. Infrastructure 2x Daily ETF)

Corgi · Leveraged ETFs · data as of Oct 9, 2026

Three months to Oct 9, 2026: XPAV returned −14.1% where its own daily promise gave −11.8%, 2.3 points short.

## Key facts

- XPAV, what PAVE did: −5.7%, as of Oct 9, 2026.
- XPAV, what 2 times a day gives: −11.8%, as of Oct 9, 2026.
- XPAV, what the fund returned: −14.1%, as of Oct 9, 2026.
- XPAV, the fund itself cost: −2.3 pts, as of Oct 9, 2026.
- XPAV, net assets: $315,914 (the issuer’s own daily fund list, as of Oct 9, 2026).
- XPAV, expense ratio: 0.45% (485BPOS XBRL, May 28, 2026).

## XPAV over each window to Oct 9, 2026

| Window | Fund | PAVE | +2x the move | Difference | PAVE moved about, annualized |
| --- | --- | --- | --- | --- | --- |
| 1 month | −3.9% | −1.4% | −2.7% | −1.1 pts | 16% |
| 3 months | −14.1% | −5.7% | −11.4% | −2.7 pts | 17% |
| Since launch | −17.1% | −6.5% | −13.1% | −4.0 pts | 20% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of PAVE, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.47 times, against +2 stated | ETFIQ |
| Underlying | PAVE | ETFIQ |
| Segment | sector or country, theme | ETFIQ |
| Net assets | $315,914 | the issuer’s own daily fund list, as of Oct 9, 2026 |
| Expense ratio | 0.45% | 485BPOS XBRL, May 28, 2026 |
| First traded | Jun 3, 2026 | ETFIQ |
| Underlying volatility over the window | 17% annualized | ETFIQ |

## Questions

### Did XPAV return +2 times PAVE?

Over the three months to Oct 9, 2026, PAVE moved −5.7% and XPAV returned −14.1%. 2 times that move is −11.4%, so the fund came out 2.7 points short of it. Against its own daily promise, 2 times each day's move compounded, it was 2.3 points short.

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

Because it resets daily. XPAV 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.


## Cite this page

ETFIQ, XPAV, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/xpav
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at https://etfiq.com/data/.

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