{"url":"https://etfiq.com/leverage/spy-leveraged-etfs","section":"leverage","title":"SPY Leveraged ETFs: 2x, 3x & Inverse, Compared | ETFIQ","description":"10 leveraged and inverse ETFs on SPY: multiple, issuer, fee and net assets. Each against its stated multiple, as of Oct 22, 2026.","as_of":"Oct 22, 2026","structured_data":[{"@type":"ItemList","name":"SPY Leveraged ETFs: 2x, 3x & Inverse, Compared","numberOfItems":10,"itemListElement":[{"@type":"ListItem","position":1,"item":{"@type":"FinancialProduct","name":"ProShares Ultra S&P500","alternateName":"SSO","url":"https://etfiq.com/funds/sso","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"ProShares","sameAs":["https://www.proshares.com/"]}}},{"@type":"ListItem","position":2,"item":{"@type":"FinancialProduct","name":"Direxion Daily S&P 500 Bull 3X ETF","alternateName":"SPXL","url":"https://etfiq.com/funds/spxl","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"Direxion","sameAs":["https://www.direxion.com/"]}}},{"@type":"ListItem","position":3,"item":{"@type":"FinancialProduct","name":"ProShares UltraPro S&P500","alternateName":"UPRO","url":"https://etfiq.com/funds/upro","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"ProShares","sameAs":["https://www.proshares.com/"]}}},{"@type":"ListItem","position":4,"item":{"@type":"FinancialProduct","name":"ProShares Short S&P500","alternateName":"SH","url":"https://etfiq.com/funds/sh","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"ProShares","sameAs":["https://www.proshares.com/"]}}},{"@type":"ListItem","position":5,"item":{"@type":"FinancialProduct","name":"ProShares UltraPro Short S&P500","alternateName":"SPXU","url":"https://etfiq.com/funds/spxu","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"ProShares","sameAs":["https://www.proshares.com/"]}}},{"@type":"ListItem","position":6,"item":{"@type":"FinancialProduct","name":"ProShares UltraShort S&P500","alternateName":"SDS","url":"https://etfiq.com/funds/sds","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"ProShares","sameAs":["https://www.proshares.com/"]}}},{"@type":"ListItem","position":7,"item":{"@type":"FinancialProduct","name":"Direxion Daily S&P 500 Bear 3X ETF","alternateName":"SPXS","url":"https://etfiq.com/funds/spxs","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"Direxion","sameAs":["https://www.direxion.com/"]}}},{"@type":"ListItem","position":8,"item":{"@type":"FinancialProduct","name":"Direxion Daily S&P 500 Bull 2X ETF","alternateName":"SPUU","url":"https://etfiq.com/funds/spuu","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"Direxion","sameAs":["https://www.direxion.com/"]}}},{"@type":"ListItem","position":9,"item":{"@type":"FinancialProduct","name":"Direxion Daily S&P 500 Bear 1X ETF","alternateName":"SPDN","url":"https://etfiq.com/funds/spdn","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"Direxion","sameAs":["https://www.direxion.com/"]}}},{"@type":"ListItem","position":10,"item":{"@type":"FinancialProduct","name":"Tradr 2X Long SPY Quarterly ETF","alternateName":"SPYQ","url":"https://etfiq.com/funds/spyq","category":"Exchange-traded fund, leveraged and inverse","provider":{"@type":"Organization","name":"Tradr","sameAs":["https://tradretfs.com/"]}}}]},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which 2x SPY ETFs are there?","acceptedAnswer":{"@type":"Answer","text":"As of Oct 22, 2026, 3 ETFs set out to return 2x the daily move in the S&P 500 (SPY): SSO, SPUU and SPYQ."}},{"@type":"Question","name":"Which 3x SPY ETFs are there?","acceptedAnswer":{"@type":"Answer","text":"As of Oct 22, 2026, 2 ETFs set out to return 3x the daily move in the S&P 500 (SPY): SPXL and UPRO."}},{"@type":"Question","name":"Which inverse SPY ETFs are there?","acceptedAnswer":{"@type":"Answer","text":"As of Oct 22, 2026, 5 ETFs set out to return the opposite of the daily move in the S&P 500 (SPY), from \u22123x to \u22121x: SH, SPXU, SDS, SPXS and SPDN."}},{"@type":"Question","name":"Which SPY leveraged ETF is largest?","acceptedAnswer":{"@type":"Answer","text":"SSO, ProShares Ultra S&P500, at $8.6bn in net assets on Oct 22, 2026, the largest of the 10 on SPY with a published size."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leverage","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"SPY leveraged and inverse ETFs","item":"https://etfiq.com/leverage/spy-leveraged-etfs"}]},{"@type":"WebPage","name":"SPY Leveraged ETFs: 2x, 3x & Inverse, Compared","description":"10 leveraged and inverse ETFs on SPY: multiple, issuer, fee and net assets. Each against its stated multiple, as of Oct 22, 2026.","url":"https://etfiq.com/leverage/spy-leveraged-etfs","dateModified":"2026-10-22","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4199,"truncated":false,"content":"ETFIQ / Leverage / SPY leveraged and inverse ETFs \n \n Data as of Oct 22, 2026 .\n SPY leveraged and inverse ETFs\n As of Oct 22, 2026, 10 ETFs set out to return a multiple of the daily move in the S&P 500 (SPY), from \u22123x to 3x, sold by 3 issuers. Over three months they finished from \u22123.3 to +2.4 percentage points against what their stated multiples implied.\n Browse leveraged ETFs\n Single-stock leveraged and inverse ETFs Sector and country leveraged ETFs Broad index leveraged and inverse ETFs Commodity, crypto and bond leveraged ETFs Two times long Three times long Two times inverse Three times inverse Inverse ETFs All 10 leveraged and inverse ETFs on SPY\n SPY leveraged and inverse ETFs, 10 funds. Each fund\u2019s return minus what its stated multiple would have produced over the same days, in percentage points, to Oct 22, 2026; largest first. Source: ETFIQ. Ticker Fund Issuer 1M vs multiple 3M vs multiple 1Y vs multiple Net assets Net assets as of Fee Total return 1M Total return 3M Total return YTD Total return 1Y Total return 3Y Total return since launch Multiple \n SSO ProShares Ultra S&P500 ProShares \u22120.5 pts \u22121.6 pts \u22126.7 pts $8.6bn Oct 22, 2026 0.84% \u22122.9% +5.8% +20.4% +24.5% +176.5% +1,810.7% +2x \n SPXL Direxion Daily S&P 500 Bull 3X ETF Direxion \u22121.1 pts \u22123.2 pts \u221213.3 pts $6.9bn Oct 22, 2026 0.84% \u22124.7% +7.9% +27.8% +33.5% +291.0% +8,481.7% +3x \n UPRO ProShares UltraPro S&P500 ProShares \u22121.1 pts \u22123.3 pts \u221213.9 pts $5.4bn Oct 22, 2026 0.88% \u22124.7% +7.8% +27.4% +32.9% +289.0% +12,893.0% +3x \n SH ProShares Short S&P500 ProShares +0.5 pts +1.4 pts +6.7 pts $956m Oct 22, 2026 0.88% +1.7% \u22122.3% \u22127.8% \u22128.9% \u221236.7% \u221291.0% -1x \n SPXU ProShares UltraPro Short S&P500 ProShares +0.9 pts +2.4 pts +14.8 pts $423m Oct 22, 2026 0.90% +4.5% \u22128.7% \u221228.0% \u221232.0% \u221283.4% \u2212100.0% -3x \n SDS ProShares UltraShort S&P500 ProShares +0.7 pts +1.9 pts +10.3 pts $383m Oct 22, 2026 0.91% +3.1% \u22125.5% \u221218.1% \u221220.9% \u221266.5% \u221299.7% -2x \n SPXS Direxion Daily S&P 500 Bear 3X ETF Direxion +1.1 pts +2.4 pts +14.9 pts $321m Oct 22, 2026 1.04% +4.7% \u22128.7% \u221227.9% \u221231.9% \u221283.1% \u2212100.0% -3x \n SPUU Direxion Daily S&P 500 Bull 2X ETF Direxion \u22120.8 pts \u22121.5 pts \u22126.1 pts $307m Oct 22, 2026 0.60% \u22123.2% +5.9% +20.9% +25.1% +179.7% +984.7% +2x \n SPDN Direxion Daily S&P 500 Bear 1X ETF Direxion +0.7 pts +1.6 pts +7.1 pts $270m Oct 22, 2026 0.48% +1.9% \u22122.1% \u22127.4% \u22128.5% \u221236.1% \u221273.6% -1x \n SPYQ Tradr 2X Long SPY Quarterly ETF Tradr \u22120.5 pts \u22121.9 pts \u22128.7 pts $13m Oct 22, 2026 1.00% \u22122.9% +5.5% +18.4% +22.5% not available +56.5% since Oct 2024 +2x \n\n What SPY itself did over the same days: \u22121.2% over one month, +3.7% over three months, +15.6% over one year.\n Questions people ask\n Which 2x SPY ETFs are there? As of Oct 22, 2026, 3 ETFs set out to return 2x the daily move in the S&P 500 ( SPY ): SSO , SPUU and SPYQ. Which 3x SPY ETFs are there? As of Oct 22, 2026, 2 ETFs set out to return 3x the daily move in the S&P 500 ( SPY ): SPXL and UPRO. Which inverse SPY ETFs are there? As of Oct 22, 2026, 5 ETFs set out to return the opposite of the daily move in the S&P 500 ( SPY ), from \u22123x to \u22121x: SH , SPXU , SDS , SPXS and SPDN. Which SPY leveraged ETF is largest? SSO , ProShares Ultra S&P500, at $8.6bn in net assets on Oct 22, 2026, the largest of the 10 on SPY with a published size. Where to next\n SPXL vs SSO SSO vs UPRO SH vs SSO SPXU vs SSO SDS vs SSO SPXS vs SSO SPUU vs SSO SPDN vs SSO SPYQ vs SSO Broad index leveraged and inverse ETFs Sold by more than one issuer Every leveraged and inverse ETF What these words mean How these figures are computed Take the data \n Cite this page. ETFIQ, SPY leveraged and inverse ETFs, data as of Oct 22, 2026. https://etfiq.com/leverage/spy-leveraged-etfs Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, SPY leveraged and inverse ETFs, data as of Oct 22, 2026. https://etfiq.com/leverage/spy-leveraged-etfs APA ETFIQ. (Oct 22, 2026). SPY leveraged and inverse ETFs. Retrieved from https://etfiq.com/leverage/spy-leveraged-etfs Markdown [SPY leveraged and inverse ETFs (ETFIQ, Oct 22, 2026)](https://etfiq.com/leverage/spy-leveraged-etfs)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, SPY leveraged and inverse ETFs, data as of Oct 22, 2026. https://etfiq.com/leverage/spy-leveraged-etfs"}