# XPP (ProShares Ultra FTSE China 50)

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

Three months to Sep 30, 2026: XPP returned +10.9% where its own daily promise gave +12.4%, 1.5 points short.

## Key facts

- XPP, what FXI did: +6.4%, as of Sep 30, 2026.
- XPP, what 2 times a day gives: +12.4%, as of Sep 30, 2026.
- XPP, what the fund returned: +10.9%, as of Sep 30, 2026.
- XPP, the fund itself cost: −1.5 pts, as of Sep 30, 2026.
- XPP, net assets: $8m (issuer page, as of Sep 30, 2026).
- XPP, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## XPP over each window to Sep 30, 2026

| Window | Fund | FXI | +2x the move | Difference | FXI moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −8.2% | −3.8% | −7.6% | −0.5 pts | 17% |
| 3 months | +10.9% | +6.4% | +12.8% | −1.9 pts | 17% |
| 6 months | −11.2% | −3.6% | −7.2% | −4.0 pts | 18% |
| 1 year | −35.7% | −15.8% | −31.5% | −4.1 pts | 20% |
| 3 years | +24.4% | +38.4% | +76.7% | −52.3 pts | 27% |
| Since launch | −69.8% | +16.9% | +33.8% | −103.6 pts | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of FXI, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.7 times, against +2 stated | ETFIQ |
| Underlying | FXI | ETFIQ |
| Segment | sector or country, country | ETFIQ |
| Net assets | $8m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 17% annualized | ETFIQ |

## Questions

### Did XPP return +2 times FXI?

Over the window to Sep 30, 2026, FXI moved +6.4% and XPP returned +10.9%. 2 times that move is +12.8%, so the fund came out 1.9 points short of it.

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

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

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