- As of Nov 4, 2026, ETFIQ covers 632 leveraged ETFs at two times and 51 at three times, among 726 leveraged and inverse funds.
In plain words
A 2x ETF aims to return twice an underlying’s move in one day; a 3x ETF three times. Both reset daily, so their return over weeks or months is not twice or three times the underlying’s.
Two times is the most common (632 funds); three times has 51. 145 are inverse and 475 follow a single stock. A higher multiple means bigger daily swings and bigger drift when the underlying moves up and down. ETFIQ measures what each fund returned against its daily multiple over the same days; the gap is compounding, borrowing costs and fees.
Questions
- Is a 3x ETF three times the return over a year?
No. It resets every day, so the result over a long period can differ widely from three times.
- What is an inverse ETF?
A fund that aims for the opposite of the daily move, such as minus one or minus two times.
- Where do I see a fund’s gap?
On its fund page and the leveraged ETFs desk.