Answered from ETFIQ data as of .
What is a leveraged ETF?
A fund that sets out to return a stated multiple of another thing’s move, each day. ETFIQ tracks 740 of them: 390 long and 350 inverse, on single companies, sectors, broad indices and asset classes. The multiple applies to a day, not to however long it is held.
The fund holds swaps or futures rather than the thing itself, sized each morning so that a one percent move in the underlying that day produces the stated multiple. At the close it resets and does it again from wherever it now stands.
That reset is the whole mechanism and the whole problem. Over one day the fund does what the name says. Over a week it is usually close. Over a quarter it can be a long way off, and which way depends on whether the underlying trended or thrashed about.
An inverse fund works the same way with the sign reversed, and is not a way to hold a short position: the same compounding applies, and it applies to a position that gets smaller as it wins and larger as it loses.
On ETFIQ today
| Ticker | Fund | Says | On | Segment | Fund returned | Difference |
|---|---|---|---|---|---|---|
| SPYU | MAX S&P 500 4X Leveraged ETNs due Octobe | +4x | SPY | us large cap | +4.5% | −8.7 pts |
| UDOW | ProShares UltraPro Dow30 | +3x | DIA | us large cap | +5.6% | −3.0 pts |
| SDOW | ProShares UltraPro Short Dow30 | -3x | DIA | us large cap | −7.0% | +1.6 pts |
| EDC | Direxion Daily MSCI Emerging Markets Bul | +3x | EEM | country | −6.9% | −8.2 pts |
| EDZ | Direxion Daily MSCI Emerging Markets Bea | -3x | EEM | country | −9.8% | −8.5 pts |
| MEXX | Direxion Daily MSCI Mexico Bull 3X ETF | +3x | EWW | country | −11.2% | −3.6 pts |
| KORU | Direxion Daily MSCI South Korea Bull 3X | +3x | EWY | country | −44.1% | −30.8 pts |
| WEBL | Direxion Daily Dow Jones Internet Bull 3 | +3x | FDN | sector | +23.6% | −4.3 pts |
| WEBS | Direxion Daily Dow Jones Internet Bear 3 | -3x | FDN | sector | −26.0% | +1.9 pts |
| FNGU | MicroSectors FANG+ 3X Leveraged ETNs | +3x | FNGS | index | +22.4% | −8.0 pts |
| FNGD | MicroSectors FANG Index -3X Inverse Lev | -3x | FNGS | index | −30.0% | +0.4 pts |
| YINN | Direxion Daily FTSE China Bull 3X ETF | +3x | FXI | country | −9.3% | −4.7 pts |
| YANG | Direxion Daily FTSE China Bear 3X ETF | -3x | FXI | country | +3.3% | −1.3 pts |
| GDXU | MicroSectors Gold Miners 3X Leveraged ET | +3x | GDX | index | +39.3% | −24.7 pts |
| GDXD | MicroSectors Gold Miners -3X Inverse Lev | -3x | GDX | index | −61.8% | +2.2 pts |
| SHNY | MicroSectors Gold 3X Leveraged ETNs due | +3x | GLD | index | −0.5% | −10.0 pts |
| DULL | MicroSectors Gold -3X Inverse Leveraged | -3x | GLD | index | −15.8% | −6.4 pts |
| TYD | Direxion Daily 7-10 Year Treasury Bull 3 | +3x | IEF | bond | −9.6% | −2.5 pts |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3 | -3x | IEF | bond | +11.2% | +4.1 pts |
| DFEN | Direxion Daily Aerospace & Defense Bull | +3x | ITA | sector | −22.3% | −3.5 pts |
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Where these figures came from
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ETFIQ is an independent publisher of exchange-traded fund data and makes no recommendations. Every figure is stated arithmetic on published data. Standards and sources
Cite this page. ETFIQ, What is a leveraged ETF?, data as of Sep 11, 2026. https://etfiq.com/questions/what-is-a-leveraged-etf Free to use with attribution; the underlying files are at Open data.