# Leveraged ETFs furthest below their multiple

> AAOZ leads leveraged ETFs furthest below their multiple at −81.5 pts (difference, three months), as of Oct 27, 2026. A ranking is not a recommendation.

Data as of Oct 27, 2026. Rebuilt every trading night.

As of Oct 27, 2026 . Rebuilt every trading night.

## Leveraged ETFs furthest below their multiple

See 15 funds ranked by the fund’s return minus its multiple of the underlying’s move, three months. Updated Oct 27, 2026.

| # | Ticker | Fund | Issuer | Says | Underlying asset | Underlying did | Fund returned | Multiple of that move | Difference |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1 | AAOZ | Tradr 2X Short AAOI Daily ETF | Tradr | -2x | AAOI | −12.7% | −56.1% | +25.4% | −81.5 pts |
| 2 | SMZ | Tradr 2X Short SMR Daily ETF | Tradr | -2x | SMR | −30.7% | −17.8% | +61.4% | −79.2 pts |
| 3 | IREZ | Tradr 2X Short IREN Daily ETF | Tradr | -2x | IREN | −19.1% | −40.2% | +38.2% | −78.4 pts |
| 4 | NBIZ | Tradr 2X Short NBIS Daily ETF | Tradr | -2x | NBIS | +0.5% | −75.9% | −1.0% | −74.9 pts |
| 5 | MRNX | Defiance Daily Target 2X Long MRNA ETF | Defiance | +2x | MRNA | +272.7% | +471.4% | +545.4% | −74.0 pts |
| 6 | CORD | T-REX 2X INVERSE CRWV DAILY TARGET ETF | T-REX | -2x | CRWV | −11.5% | −48.4% | +23.0% | −71.4 pts |
| 7 | AXTL | Leverage Shares 2X Long AXTI Daily ETF | Leverage Shares | +2x | AXTI | +36.2% | +4.7% | +72.4% | −67.7 pts |
| 8 | AXTX | Tradr 2X Long AXTI Daily ETF | Tradr | +2x | AXTI | +36.2% | +4.7% | +72.4% | −67.7 pts |
| 9 | AXTU | T-REX 2X LONG AXTI DAILY TARGET ETF | T-REX | +2x | AXTI | +36.2% | +4.8% | +72.4% | −67.6 pts |
| 10 | AXTC | Corgi AXTI 2x Daily ETF | Corgi | +2x | AXTI | +36.2% | +7.9% | +72.4% | −64.5 pts |
| 11 | CBRZ | Tradr 2X Short CBRS Daily ETF | Tradr | -2x | CBRS | −38.1% | +15.6% | +76.2% | −60.6 pts |
| 12 | APLZ | Tradr 2X Short APLD Daily ETF | Tradr | -2x | APLD | −26.7% | −3.5% | +53.4% | −56.9 pts |
| 13 | CRMX | Tradr 2X Long CRML Daily ETF | Tradr | +2x | CRML | +43.6% | +36.1% | +87.2% | −51.1 pts |
| 14 | QBTZ | Defiance Daily Target 2X Short QBTS ETF | Defiance | -2x | QBTS | −31.2% | +12.0% | +62.4% | −50.4 pts |
| 15 | ASTN | Defiance Daily Target 2X Short ASTS ETF | Defiance | -2x | ASTS | −25.8% | +1.6% | +51.6% | −50.0 pts |

### Method

A fund that says two times returns two times the underlying’s daily move, compounded. Over a quarter that is not two times the quarter’s move. The table gives what the underlying did, what the fund returned, and the difference, in percentage points. It is calculated from the fund and its underlying over the same days, not a judgment about either. The list sorts one published number, with no scoring or weighting. Every fund ETFIQ covers in this category is eligible, closed funds included.

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### Sources

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A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, Leveraged ETFs furthest below their multiple, ranked by the fund’s return minus its multiple of the underlying’s move, data as of Oct 27, 2026. https://etfiq.com/rankings/leverage-furthest-from-the-label
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
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